Gartner Forecasts Worldwide IT Spending to Reach $4 Trillion in 2021
Gartner, Inc. (IT)
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Source: Business Wire
Funding for New Digital Business Initiatives to Come From Outside of IT STAMFORD, Conn.--(BUSINESS WIRE)--Worldwide IT spending is projected to total $4.1 trillion in 2021, an increase of 8.4% from 2020, according to the latest forecast by Gartner, Inc. The source of funds for new digital business initiatives will more frequently come from business departments outside IT and charged as a cost of revenue or cost of goods sold (COGS).“IT no longer just supports corporate operations as it traditionally has, but is fully participating in business value delivery,” said John-David Lovelock, distinguished research vice president at Gartner. “Not only does this shift IT from a back-office role to the front of business, but it also changes the source of funding from an overhead expense that is maintained, monitored and sometimes cut, to the thing that drives revenue.”All IT spending segments are forecast to have positive growth through 2022 (see Table 1). The highest growth will come from d
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