According to Gartner, spending on cloud and IT services will drive EMEA IT spending to $1.3 trillion in 2023, offsetting a decline in demand for personal devices.
According to new Gartner research, IT spending in EMEA is expected to rise 3.7% year on year in 2023, reaching $1.3 trillion.
Whilst also businesses are quite often unwilling to enter into new contracts or commit to long-term spending measures during challenging times, enterprise IT budgets are not fundamental to this nervousness, and as a result, businesses in Financial services (Europe, Middle East, and Latin america and the caribbean) are set to increase their IT budgets in 2023, according to Gartner analyst and vice president John Hindle.
Gartner found that increased spending on cloud software is largely driving the spending growth, with EMEA CIOs using cloud-first technologies to drive new initiatives such as packaged business capabilities (PBCs) and data grids while maintaining current on-premises environments, according to research released Wednesday at the company’s IT Symposium 2022 in Barcelona.
Meanwhile, Gartner predicts that public cloud services spending in EMEA will rise from $111 billion in 2022 to $131 billion in 2023, an increase of 18.2% year on year. Cloud software spending will account for 34% of total enterprise software spending in EMEA.
Information systems service spend is expected to grow at the second-fastest rate, increasing by 6.6%, as CIOs continue to lose the battle for talent and are forced to rely on more IT managed services to fill the gaps, sometimes at great expense.
Retail sales are not recession-resistant.
Whereas the worldview for enterprises appears to be generally positive, the story is quite different when it comes to monitoring customer Information systems expenditure.
Lovelock noted ahead of the Gartner symposium that a country’s GDP (gross domestic product)—the value of goods and services produced during a given period—can be measured in two ways. There is “real GDP,” or GDP adjusted for inflation, and “nominal GDP,” or GDP unaffected by inflation.
As a result, Gartner forecasts that private consumption on personal devices will fall by 13% in 2022, the greatest twofold decline since 2009. This pattern is projected to persist into 2023, with private consumption on personal devices expected to fall 2.6%.
