HG Insights Projects $5 Trillion in Global IT Spend by 2025

HG Insights has released its latest IT Spend Report, projecting that external IT spending will approach $5 trillion by 2025, marking a significant milestone in the B2B market. The report emphasizes the resilience of IT budgets despite global economic volatility, with companies prioritizing investments in technology to navigate challenging market conditions. Key findings include a $1.5 trillion projection in global software spend, with ERP Applications and Security leading the growth, and a $2.1 trillion expectation in IT services, driven by Cloud Services and IT Consulting.

The report also details regional spending, with the Americas leading at $2.05 trillion, followed by Asia-Pacific at $1.59 trillion, and Europe, the Middle East, and Africa at $1.17 trillion. IT services remain the largest category, accounting for 43.9% of total spend, while software is the fastest-growing sector. Hardware and communications are also expected to see substantial investments, reaching $757.1 billion and $470.7 billion, respectively.

Rohini Kasturi, CEO of HG Insights, underscores the importance of strategic agility in leveraging these market opportunities. The report serves as a critical tool for businesses aiming to adapt to new regulations, economic policies, and shifts in public sentiment to maintain a competitive edge in the evolving IT landscape.