Worldwide IT spending is forecast to reach $3.5 trillion in 2017, up 2.9 percent from 2016 estimated spending of $3.4 trillion, driven by growth in software and IT services revenue, according to the latest forecast by Gartner Inc.
The bright spot for the IT industry has been the software and IT services segments. Software spending is projected to grow 6 percent in 2016, and it will grow another 7.2 percent in 2017 to total $357 billion.
IT services spending is on pace to grow 3.9 percent in 2016 to reach $597 billion, and increase 4.8 percent in 2017 to reach $943 billion.
With the U.S. presidential election three weeks away, Gartner analysts do not believe the pending election, or the winning candidate, will effect IT spending trends. Trends have shown that IT spending in the U.S. is not dependent on presidential leadership, so neither candidate should have a significant impact on IT spending in the near-term, Gartner says.
The most recent IT spending forecast research is available at Gartner Worldwide Spending Forecast
