Gartner forecasts worldwide IT spending to grow 2.4 % in 2023 spending on digital business initiatives despite the world economic slowdown .
“ A turbulent economy has changed the context of business decisions and can cause CIOs to become more hesitant , delay decisions or reorder priorities . We ’ ve seen this in action with the reshuffling taking place among some B2B companies , especially those that overinvested in growth . However , IT budgets are not driving these shifts and IT spending remains recession-proof .”
Worldwide IT spending is projected to total US $ 4.5 trillion in 2023 , an increase of 2.4 % from 2022 , according to the latest forecast by Gartner .
This is down from the previous quarter ’ s forecast of 5.1 % growth . While inflation continues to erode consumer purchasing power and drive device spending down , overall enterprise IT spending is expected to remain strong .
“ Consumers and enterprises are facing very different economic realities ,” said John-David Lovelock , Distinguished VP Analyst at Gartner . “ While inflation is devastating consumer markets , contributing to layoffs at B2C companies , enterprises continue to increase
The software and IT services segments are projected to grow 9.3 % and 5.5 % in 2023 . The devices segment is forecast to decline 5.1 %.
“ During the height of the pandemic , employees and consumers had technology refreshes of tablets , laptops and mobile phones due to remote work and education ,” said Lovelock . “ Without a compelling reason for an upgrade , device assets are being used longer and the market is suffering .”
Report reveals evolving virtual spaces serving more ‘ inspirational and uplifting ’ activities
T he Future 100:2023 report from Wunderman Thompson says the digital world is changing to suit more of our needs including access to ‘ emotional uplift ’ and new ways to entertain .
The report offers 100 bitesize predictions across 10 sectors exploring prevailing trends , stand out technologies and how the metaverse is making an impact . The year ahead shows that even while consumers are facing economic and environmental challenges , they are determined to seek inspiration and optimism .
Highlights of the report include :
• Techcessibility : Redesigning digital environments
• Digital Identities : Bringing more of ourselves to virtual spaces
• Ritualistic Apps : Turning engagement into a savoured experience
• Metaverse for Good : Supporting humanitarian causes in virtual ways
• Augmented Entertainment : AR rewriting the formula of ‘ fun ’
• Feel Good Feeds : Social media supplies of emotional uplift
Overall , the need to approach digital experiences in more positive ways reflects the general tone of The Future 100 : 2023 which shows that even while consumers are facing economic and environmental challenges , they are determined to seek inspiration and optimism .
Emma Chiu , Global Director of Wunderman Thompson Intelligence , said : “ The established tone and engagement with digital spaces can no longer be a grind as people look for more optimistic and enjoyable ways to spend their time . While these demands change the way we connect with technologies , infrastructures are shifting to keep up and support these new experiences .”
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