IT Spending Forecast: Modest Rebound in 2014

By Dennis McCafferty
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    Steady Growth

    Steady Growth

    Worldwide IT spending will total $3.8 trillion this year, up from $3.7 trillion in 2013.

After a fairly flat 2013, global IT spending is expected to increase slightly this year, according to a recent forecast from Gartner. The overall technology market will grow more than 3 percent in 2014, after muddling through an unimpressive 0.4 percent boost last year—when three out of the five most significant tech niches actually declined in overall sales. So what's accounting for the encouraging news? A surge of demand for customer relationship management (CRM) and supply chain management (SCM) tools is fueling a major uptick of enterprise-software sales, which is expected to be the fastest-growing niche. "Investment is coming from exploiting analytics to make B2C processes more efficient and improve customer marketing efforts," says Richard Gordon, managing vice president at Gartner. "Investment will also be aligned to B2B analytics, particularly in the SCM space, where annual spending is expected to grow 10.6 percent in 2014." The market that appears to have hit a plateau is telecom services, thanks to the rapid growth of wireless-only households and declining voice rates in regions such as China.

This article was originally published on 2014-01-17
Dennis McCafferty is a freelance writer for Baseline Magazine.
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