HG Insights Forecasts $5 Trillion in Global IT Spend by 2025, Highlighting Growth in Software and Services

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 highlights the resilience of IT budgets amidst global economic challenges, with a particular focus on the growth within software and IT services sectors.

According to the report, global software spend is expected to reach $1.5 trillion, with enterprise applications leading the charge. IT services, the largest category, is projected to account for $2.1 trillion of the total spend, driven by cloud services and application-led outsourcing. Hardware and communications are also set to see substantial investments, with totals of $757.1 billion and $470.7 billion, respectively.

The regional breakdown shows the Americas leading in IT spend, with a projected $2.05 trillion, followed by Asia-Pacific at $1.59 trillion, and Europe, the Middle East, and Africa at $1.17 trillion. This distribution underscores the global nature of IT investment and the varying priorities across regions.

Rohini Kasturi, CEO of HG Insights, emphasized the importance of strategic decision-making in navigating the evolving IT landscape. The report serves as a crucial tool for businesses aiming to identify opportunities and adapt to changes in the market.

For more detailed insights, the full IT Spend Report is available, offering comprehensive data and analysis on the future of IT spending.