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Global Tech Spend To Grow 5.3% In 2024, Reaching $4.7 Trillion — Forrester Reports

As economic conditions continue to improve, tech spend will grow 5.3% in 2024 — up from 3.5% in 2023. Two factors will primarily contribute to this growth: Increased spending on software and IT services, including genAI, cloud, security, and digital, and economic growth in Asia Pacific. By 2027, software and IT services will capture 69% of global tech spend, with investments in genAI software predicted to reach $227 billion by 2030.

TechnologyStaff ReportsJanuary 31, 2024Forrester, Tech Spend, Technology Leaders