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Report

Global IT Spending Market Report and Forecast 2023-2028

Market Report I 2023-10-06 I 194 Pages I EMR Inc.

Global IT Spending Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global IT spending market reached a value of USD 3.75 trillion in 2022. Aided by the digital transformation trends across industries and the surge in demand for advanced technology solutions amidst the evolving business landscape, the market is projected to further grow at a CAGR of 3.5% between 2023 and 2028 to reach a value of USD 4.61 trillion by 2028.
IT spending refers to the total expenditure on technology and related services by organisations. These expenditures cover hardware (servers, computers, networking equipment), software (CRM systems, ERP systems, cybersecurity tools), services (cloud computing, consulting, support services), and telecommunications (network infrastructure, wireless solutions).
A major driving force behind the surge in global IT spending market growth is the widespread adoption of digital transformation across various industries. As companies look to become more efficient, agile, and competitive in the market, they increasingly invest in new technologies.
The growing need for advanced cybersecurity solutions, propelled by an increase in cyber threats and attacks, is another significant factor contributing to the IT spending market size. Additionally, the COVID-19 pandemic has played a significant role, forcing many businesses to invest in remote working solutions and digital capabilities to continue their operations seamlessly.
IT spending is a critical aspect of business operations across all industries. In healthcare, IT investments are going towards electronic health records, telehealth platforms, and data analytics. In the finance sector, IT spending is often aimed at improving security, compliance tools, and customer-service technologies. Retailers are investing in e-commerce solutions, customer relationship management (CRM) software, and point-of-sale (POS) systems.
North America, being a technologically advanced region with a strong focus on innovation, accounts for a significant portion of the IT spending market share. However, Asia-Pacific is catching up fast, with countries like China and India becoming notable hotspots due to rapid industrialisation and digital transformation initiatives. Europe, led by countries such as the UK, Germany, and France, is also a significant player due to its strong financial sector and advanced manufacturing industries.
One of the most notable IT spending market trends is the shift towards cloud computing. Companies are increasingly moving their operations to the cloud to improve scalability, flexibility, and cost-efficiency. This shift is expected to continue, as the benefits of cloud computing align closely with the goals of digital transformation.
Market Segmentation
The market can be divided based on type and region.
Market Breakup by Type
- Data Centre Systems
- Enterprise Software
o Business Intelligence Software
o Content Management Software
o Customer Relationship Management Software
o Enterprise Resource Planning Software
o Supply Chain Management Software
o Others
- Enterprise IT Services
o Customized Software and App development
o Services Including IT consulting
o Others
- Devices
- Communications Services
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IT Spending Market Analysis
8.1 Key Industry Highlights
8.2 Global IT Spending Historical Market (2018-2022)
8.3 Global IT Spending Market Forecast (2023-2028)
8.4 Global IT Spending Market by Type
8.4.1 Data Centre Systems
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Enterprise Software
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 Breakup by Type
8.4.2.3.1 Business Intelligence Software
8.4.2.3.2 Content Management Software
8.4.2.3.3 Customer Relationship Management Software
8.4.2.3.4 Enterprise Resource Planning Software
8.4.2.3.5 Supply Chain Management Software
8.4.2.3.6 Others
8.4.3 Enterprise IT Services
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.3.3 Breakup by Type
8.4.3.3.1 Customized Software and App development
8.4.3.3.2 Services Including IT consulting
8.4.3.3.3 Others
8.4.4 Devices
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Communications Services
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.5 Global IT Spending Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
9 North America IT Spending Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe IT Spending Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific IT Spending Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America IT Spending Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa IT Spending Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Key Indicators for Demand
14.3 Key Indicators for Price

List of Key Figures and Tables
1. Global IT Spending Market: Key Industry Highlights, 2018 and 2028
2. Global IT Spending Historical Market: Breakup by Type (USD Trillion), 2018-2022
3. Global IT Spending Market Forecast: Breakup by Type (USD Trillion), 2023-2028
4. Global IT Spending Historical Market: Breakup by Region (USD Trillion), 2018-2022
5. Global IT Spending Market Forecast: Breakup by Region (USD Trillion), 2023-2028
6. North America IT Spending Historical Market: Breakup by Country (USD Trillion), 2018-2022
7. North America IT Spending Market Forecast: Breakup by Country (USD Trillion), 2023-2028
8. Europe IT Spending Historical Market: Breakup by Country (USD Trillion), 2018-2022
9. Europe IT Spending Market Forecast: Breakup by Country (USD Trillion), 2023-2028
10. Asia Pacific IT Spending Historical Market: Breakup by Country (USD Trillion), 2018-2022
11. Asia Pacific IT Spending Market Forecast: Breakup by Country (USD Trillion), 2023-2028
12. Latin America IT Spending Historical Market: Breakup by Country (USD Trillion), 2018-2022
13. Latin America IT Spending Market Forecast: Breakup by Country (USD Trillion), 2023-2028
14. Middle East and Africa IT Spending Historical Market: Breakup by Country (USD Trillion), 2018-2022
15. Middle East and Africa IT Spending Market Forecast: Breakup by Country (USD Trillion), 2023-2028

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