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Global IT Spending Predictions for 2014

by: Sarah Joson

Tuesday, January 7, 2014 | Outsourcing News |

The latest report from Forrester Research indicates that this year, the global spending on information technology will grow 6.2 percent, which is US$2.22 trillion. Factors that would cause the improvement are the growing interest over cloud technology and mobility, as well as the recovering economy.

According to Andrew Bartels, an analyst at Forrester, if the projections happen, it will be a leap from 2013 since IT spending only increased 1.6 percent that year. Bartels added that spending will grow 8.1 percent in 2015, but will be below average compared to the double-digit growth rates posted during the 1990s and 2000.

It is also predicted that the US dollar will be weaker than most currencies next year and growth will only be at 5.5 percent.

Bartels noted that even with the continuous economic and political problems in the US, it will still be the key market in terms of IT spending. It was noted that Brazil, India, China, and Russia are experiencing uneven economic growth while Western Europe is believed to be gaining speed to recovery.  
Software will post the most IT spending activity in 2014 with $568 billion. Outsourcing followed with $442 billion, integration and IT consulting services valued at $421 billion, then computer hardware with $416 billion, and communications hardware with $373 billion.


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