"They spend money based on their feeling of prosperity. You know what they spend on changes, but tech providers build new software tools and develop things including the cloud,"
"Enterprises [and] consumers buy mobile phones and IT services, particularly communication services, based on how prosperous they're feeling. There's a certain cadence to all of it."
"It's come in such a foundational way, because it is a foundational technology. It's not like the cloud, it's not like the internet, it's like electricity,"
IT spending in Europe is projected to rise 11.1% in 2026, exceeding $1.4 trillion overall. Growth will be broad-based across data centers, devices, software, and IT services. Software spending will contribute the largest share of growth as enterprises race to adopt new AI features. Technology and service providers are investing heavily to capitalize on generative AI, agentic AI, and related capabilities. Historically, consumer, IT company, and enterprise spending moved in conjunction with macroeconomic prosperity, but generative AI has disrupted that cadence and intensified competitive provider spending to drive adoption.
Read at IT Pro
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