In the face of continuing economic uncertainty and geopolitical conflict, spending on computer software continues at a staggering pace, forecast to grow 13.5 percent in 2023.
This is according to the latest figures from Gartner, which said growth would continue into next year: after hitting $912 billion globally in 2023, software spending is expected to increase another 14 percent in 2024 to top $1 trillion.
This is against a backdrop of increasing worldwide IT spending, projected to total $4.7 trillion in 2023, an increase of 4.3 percent from 2022. The estimate for the current year is up slightly on the $4.5 trillion figure projected by Gartner in January.
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