Global spending on technology will continue to grow in 2015, with Gartner predicting more than US$3.8 trillion will be invested in hardware, software, IT and telecom services over the next 12 months.
That amounts to a 2.4 per cent increase over 2014 – a figure that is actually slightly down on the 3.8 per cent originally predicted by the research firm.
Gartner Research Vice-President John-David Lovelock was quick to note this revised forecast is "less dramatic than it might at first seem". He has attributed the new figure to a strengthened US dollar.
"Stripping out the impact of exchange rate movements, the corresponding constant-currency growth figure is 3.7 per cent, which compares with 3.8 per cent in the previous quarter's forecast," said Mr Lovelock.
Regardless, Gartner's predictions highlight the continued growth in importance businesses and consumers alike are placing on new technology.
Of that $3.8 trillion, approximately $732 billion is expected to be spent on devices. That marks a 5.1 per cent increase over 2014, driven largely by continued spending on both low-end, entry level mobile phones and more premium smartphone options.
The bulk of technology spending – $1.63 trillion – will be spent on telecom services, while a further $981 billion will be spent on IT services.
However, enterprise software is expected to be the big mover in 2015, with spending on solutions such as customer relationship management software rising by 5.5 per cent year-over-year to reach $335 billion.
This is unsurprising when you consider the increased prominence many organisations are placing on investing in business management strategy software.
Businesses that invest in technology which is designed to improve their productivity and performance – be it new devices, innovative software solutions, or IT services – will always be at a significant advantage over competing organisations.
As that trend continues, expect to see global IT spending rise further over the coming years