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Global IT spending is expected to reach $4.8 trillion by the end of 2023

21 september 2022

According to the forecast of the research company International Data Corporation (IDC), global ICT costs will systematically increase by an average of 3.8% annually from 2019 to 2023. Thus, by 2023, the global cost in this area will be about $4.8 trillion.

At the same time, the largest demand for services in the field of information and communication technologies will be observed in the United States – according to experts, their costs will exceed a third of the world's figures to reach about $1.66 trillion. The countries of Western Europe in total will spend about $927 billion on ICT, and China - about $618 billion.

According to experts, the bulk of ICT transactions (more than 65%) will be made for commercial purchases. The leading areas in this regard are banking services and discrete production. In addition, IDC analysts expect significant growth in ICT spending in the media and services sectors.