Research and advisory firm Gartner predicts that worldwide IT spending will total $3.5 trillion in 2017, up from 2.4 per cent last year.
"Digital business is having a profound effect on the way business is done and how it is supported," says John-David Lovelock, research vice president at Gartner.
"The impact of digital business is giving rise to new categories, for example, the convergence of software plus services plus intellectual property. These next-generation offerings are fuelled by business and technology platforms that will be the driver for new categories of spending."
The boost is attributed to the decline of the US dollar against various foreign currencies. The forecast in dollar values was revised downwards by 1.3 per cent, to 1.4 per cent. Though Brexit shocked currency markets and led to the British pound's decline, this did not carry over into a disruption in the global IT market.
According to Gartner, the global enterprise software market is set to grow 7.6 per cent, an increase from 5.3 per cent growth in 2016. More companies are collecting revenue via digital avenues, which Lovelock warns will necessitate greater automation and a steady stream of new applications and functionality.
"If the I&O [infrastructure and operations] team does not monitor and track the rapidly changing environment, it risks infrastructure and application service degradation, which ultimately impacts the end-user experience and can have financial as well as brand repercussions."
The growth rate for data centre systems has decreased, largely due to a reduction in servers. The device market is forecast to increase 1.6 per cent in dollars, while the IT services market is set to grow 4.6 per cent in constant currency.
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