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Gartner: Global Tech Spending To Rise 4.3% In 2018

Gartner’s latest research has revealed that worldwide spending on technology is likely to grow by 4.3% in 2018 – a jump from 3.3% this year.

For the first time in two years, the ‘devices’ sector of the IT market is expected to show growth, forecasting an increase of 5.3% in 2017 and 5% in 2018.

Gartner states higher selling prices for premium phones in mature markets – influenced by the launch of the iPhone 8 & X – plus an increased commercial demand to replace PCs with Windows 10, has driven growth in this sector.

According to Garner’s latest research, ‘software’ shows the strongest growth in the information technology category. Software spending is forecast to climb 8.5 percent in 2017, and will likely grow another 9.4% in 2018, notching $387 billion

The ‘communications services’ sector continues to be the largest component of global IT spending, growing 1.9% in 2017 and forecasting a 2.2% increase in 2018.

Local analysts are set to provide their forecast updates for Australia and New Zealand later this month.