What They Say
Gartner issued a forecast for the IT market, which predicts that there will be overall growth of 9.5% in 2022 to $4.43 trillion and a further 5.5% in 2023 to $4.64 trillion. A positive aspect for the hardware side of the business is that the Devices market is expected to grow just 1.9% this year to $824 billion and just 1.6% in 2023 to $838 billion, after 16.1% growth in 2021.
The firm said that some spending was on hold in early 2022 but is expected to recover. It also doesn’t expect the Russian war on Ukraine to have a significant impact.
What We Think
A muted expectation for overall device spending seems correct given the weak numbers in the notebook segment at the moment. BR)
Table 1. Worldwide IT Spending Forecast (Millions of U.S. Dollars)
|
|
2021 |
2021 Growth (%) |
2022 Spending |
2022 Growth (%) |
2023 Spending |
2023 Growth (%) |
|
Data Center Systems |
207,306 |
6.7 |
218,634 |
5.5 |
230,385 |
5.4 |
|
Software |
614,494 |
15.9 |
674,889 |
9.8 |
754,808 |
11.8 |
|
Devices |
809,452 |
16.1 |
824,600 |
1.9 |
837,844 |
1.6 |
|
IT Services |
1,185,103 |
10.6 |
1,265,127 |
6.8 |
1,372,892 |
8.5 |
|
Communications Services |
1,443,419 |
3.4 |
1,448,396 |
0.3 |
1,477,798 |
2.0 |
|
Overall IT |
4,259,773 |
9.5 |
4,431,646 |
4.0 |
4,673,728 |
5.5 |
Source: Gartner (April 2022)
