"Global IT spending has grown at the fastest rate in nearly 30 years, according to IDC, largely thanks to the boom in AI and cloud services and PC refresh cycles. Figures from IDC's latest show that spending on hardware, software, and IT services is on course to rise by 14%. That's the fastest year of growth since 1996, when the launch of Windows 95, expanding PC usage, and internet adoption were the primary drivers of IT spending. Now it's all about the massive AI infrastructure investment wave driving another 'supercycle' of tech spending, IDC noted, with the figure set to reach $4.25 trillion."
"The report marks seven consecutive months in which spending has risen - reflecting continued over-performance and aggressive investments by service providers in AI infrastructure. This month's figures were also boosted by strong enterprise software spending, with many organizations continuing with digital transformation and cloud migration projects. IDC said it now expects software spending to increase by 14% in the year ahead, with AI deployments adding to investments in security, optimization and analytics."
Global IT spending is rising rapidly, driven by large-scale AI infrastructure investment, cloud services, and PC refresh cycles. Spending on hardware, software, and IT services is projected to increase by 14%, marking the fastest annual growth since 1996. Total IT spending is expected to reach $4.25 trillion, while broader ICT spending, including telecom and business services, will approach $7 trillion. The increase follows seven consecutive months of rising expenditures and reflects heavy investments by service providers in AI infrastructure. Enterprise software demand and ongoing digital transformation and cloud migration projects are further supporting sustained software and security, optimization, and analytics investments.
Read at IT Pro
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