A report from Gartner estimates a total rise in spending of $3.7 trillion this year, 6.2% higher than last year.
Enterprises in the business of IT can rest assured they are likely to capitalise from this, as the report forecasts that application and infrastructure software will continue to rise beyond this year.
Both forms of software will be accommodated and pushed further by modernisation initiatives, while spending on data centre systems is predicted to grow 3.7% this year with worldwide spending for devices expected to rise by $706 billion.
While there is a forecast of users wanting to hold back from buying, the report believes those that will purchase products will do so at higher price points, meaning end-user spending will grow faster than units by 2022. That being said, total end-user spending and unit shipments are expected to decrease from previous predictions made.
John-David Lovelock, research vice president of Gartner, pinpointed the cause of strong global IT spending growth of 6.2% on currency tailwinds.
“This is the highest annual growth rate that Gartner has forecast since 2007 and would be a sign of a new cycle of IT growth. However, spending on IT around the world is growing at expected levels and is in line with expected global economic growth. Through 2018 and 2019, the U.S. dollar is expected to trend stronger while enduring tremendous volatility due to the uncertain political environment, the North American Free Trade Agreement renegotiation and the potential for trade wars,” said Lovelock.