Global IT spending to total $2.7T+ by 2020; healthcare sector to dominate: 6 key takeaways

Written by Mary Rechtoris | August 29, 2016 | Print  |

Worldwide information technology revenues are projected to grow substantially through 2020, according to a Worldwide Semiannual IT Spending Guide: Vertical and Company Size report.

Here are six key takeaways:

 

1. By 2020, the market is expected to hit more than $2.7 trillion.

 

2. The market was valued at almost $2.4 trillion this year.

 

3. Of IT markets, healthcare is the fastest growing industry with a compound annual growth rate of 5.7 percent from 2015 to 2020.

 

4. From 2015 to 2020, the IT market is expected to increase at a CAGR of 3.3 percent.

 

5. Banking, discrete manufacturing, process manufacturing and telecommunication will account for 33 percent of IT revenues in the aforementioned time frame.

 

6. In 2015, consumer purchases generated 25 percent of IT revenues.

 

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