Global IT, telecom spending to hit $4 trillion, but economic concerns loom
Video: Top IT jobs and hiring trends for 2018
Featured
Global IT and telecom spending will grow 3.7 percent to $4 trillion in 2018, but economic concerns could derail growth in 2019, according to IDC.
In 2017, IT and telecom spending grew at a 4.2 percent clip.
IDC said economic issues like tariffs, rising interest rates and growth in China could cut IT spending to less than 3 percent. Indeed, Daimler issued a profit warning based on tariffs on its U.S. made cars.
Read also: Five tech jobs that AI and automation will make radically more efficient
By 2022, annual IT spending should hit $4.5 trillion with software and services, cloud, and digital transformation seeing the most demand. Infrastructure spending has stabilized largely due to cloud spending.
IDC said there's a likelihood for a mild U.S. recession by 2020, but spending on cost saving software and cloud should provide a buffer for IT spending.
These 12 laptops deliver the best battery life
Related stories: