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IT services spending signals major role change for CIOs ahead

January 23, 2024

Via: CIO

Category:

Analyst firm Gartner has released its 2024 worldwide IT spending forecast, and the topline is eyepopping: Overall IT expenditures are projected to grow 6.8% this year to a hair under $5 trillion.

That growth more than doubles what the firm pegs as 2023’s growth rate (3.3%), doldrums Gartner attributes not to macroeconomic forces but largely to what it calls “change fatigue among CIOs” — that is, IT leaders’ hesitance to sign new contracts or commit to long-term initiatives.

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