As we enter the third quarter of the year, now is as good a time as ever to reevaluate how you are spending your IT budget. According to Gartner, your IT spending might actually be increasing, assuming it’s in line with what your organization wants and needs. Are you being intentional with your IT spending? Where are you investing it? Are you spending it on avenues for continued growth? Gartner’s study might yield some interesting ideas which you can call upon to inform your own spending practices.
Gartner has predicted that IT spending will increase globally by about 3 percent this year, bringing the number to a staggering $4.5 trillion. This growth is slower than what we saw in 2021, but it’s still enough to show that interest in IT spending is strong, despite the supply chain issues that many companies are experiencing as a result of the global pandemic and conflicts. Most of this spending is attributed to an increase in cloud expenditures and data centers, which when you consider the circumstances, makes a lot of sense.
Now, you might wonder why people are spending so much on IT when it can be challenging to acquire such goods in the first place. Well, the reason is precisely because it will be even harder to acquire in the future. At least, that’s what John-David Lovelock, research vice president at Gartner, believes. Prices will only grow higher and more expensive, so businesses want to get ahead while they can afford to do so. It’s like taking a preventative measure now to keep yourself from spending more on resolving an issue in the future.
Other notable numbers related to IT spending for the remainder of 2022 include the following:
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