Towards an increase in spending on the IT market in 2023

As part of its Gartner IT Symposium/Xpo 2020 event, from October 17 to 20, 2022 in Orlando, Florida, the American consulting firm presented its estimates for the evolution of the IT market in 2023. Analysts consider that demand in this sector will increase by 5.1% next year, despite inflation and various geopolitical tensions.

Inflation and the current geopolitical context are not holding back IT spending

While in 2020, the health crisis induced by the arrival of Covid-19 affected the IT market with nearly $300 billion less in spending, current challenges like inflation or the war in Ukraine don’t seem to be holding businesses back. For Gartnerglobal IT spending is expected to hit the $4.6 trillion mark on rising demand from companies looking to complete their digital transformation.

According to John-David Lovelock, research vice president at Gartner, enterprise IT spending is recession proof as CEOs and CFOs, rather than cutting IT budgets, are increasing spending on their digital business initiatives “. 200 CFOs were contacted by the firm to better understand their IT spend. 69% of them planned to increase them in the coming months.

Migration to the cloud and digital transformation drives the IT market

However, companies seem to have certain preferences. ” Consumer purchasing power has been reduced to the point that many consumers are now deferring device purchases from 2022 to 2023, resulting in device spending falling 8.4% in 2022 and 0.6% in 2023 adds the analyst. For their part, companies are prioritizing their investments in certain key areas: data center, cloud computing, SaaS software, etc. They do not necessarily seek to acquire computer equipment which they generally already possess.

Graph highlighting companies' spending in the IT market according to their needs.

If in 2022, companies spent more to strengthen their data center systems, they should invest more in software and IT services, especially in the cloud, in 2023. Chart: Worldwide IT Spending Forecast / Gartner.

Digitization has multiple challenges that are of particular interest SMEs : improvement of their communication, their productivity, the management of their data, optimization of the customer experience, etc. ” Businesses will use digital technology primarily to reshape their revenue stream, adding new products and services while changing the cash flow and value proposition of existing products and services. concludes John-David Lovelock.

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Towards an increase in spending on the IT market in 2023

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