Study: Global IT Spending to Reach $5.1trn in 2024

Worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of eight per cent from 2023, according to the latest forecast by Gartner, Inc. While generative AI (GenAI) has not yet had a material impact on IT spending, investment in AI more broadly is supporting overall IT spending growth.

“In 2023 and 2024, very little IT spending will be tied to GenAI,” said John-David Lovelock, Distinguished VP Analyst at Gartner.

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