Global IT spending is projected to total $3.68 trillion (roughly Rs. 235 lakh crores) in 2018 - an increase of 4.5 percent from 2017's $3.52 trillion (roughly Rs. 224 lakh crores), market research firm Gartner said on Tuesday.
"Global IT spending growth began to turn around in 2017, with continued growth expected over the next few years. Uncertainty looms as organisations consider the potential impacts of Brexit, currency fluctuations and a possible global recession," John-David Lovelock, Research Vice President at Gartner, said in a statement.
"Despite this uncertainty, businesses will continue to invest in IT as they anticipate revenue growth, but their spending patterns will shift," Lovelock noted.
"Projects in digital business, blockchain, Internet of Things (IoT) and progression from big data to algorithms to Machine Learning (ML) to Artificial Intelligence (AI) will continue to be main drivers of growth," Lovelock added.
Worldwide software spending is projected to grow 9.5 percent in 2018 and it will grow another 8.4 percent in 2019 to total $421 billion (roughly Rs. 26.9 lakh crores).
Organisations are expected to increase spending on enterprise application software in 2018, with more of the budget shifting to software as a service (SaaS).
Driven by end-user spending on mobile phones, the devices segment is expected to grow 5.6 percent in 2018.
Witnessing an increase of 5.7 percent, the devices segment experienced growth for the first time in two years in 2017. It is expected to grow 5.6 percent in 2018 to reach $704 billion (roughly Rs. 45 lakh crores), and then grow 0.9 percent in 2019 to reach $710 billion (roughly Rs. 45.36 lakh crores) in 2019.
Meanwhile, PC growth is expected to be flat in 2018 even as continued migration to Windows 10 OS is expected to drive positive growth in the business market in China, Latin America, and Eastern Europe.
Written with inputs from IANS