Gartner has released preliminary results of its 2024 global IT market study, along with a forecast for 2025. The report indicates steady industry growth despite ongoing macroeconomic challenges and geopolitical uncertainties.
The study covers expenditures across data centers, enterprise software, IT services, telecommunications, and electronic devices. Total spending in 2024 is projected at $5.26 trillion, reflecting a 7.2% increase compared to 2023.
Segment Analysis: 2024 Spending Overview
- Data Centers: Expenditures in this segment are expected to reach $318.01 billion, representing a 34.7% rise from last year.
- Enterprise Software: The software market is forecast to generate $1.09 trillion, growing 11.7% year-on-year.
- IT and Telecom Services: Spending on IT services will total $1.59 trillion (+5.6%), while telecommunications will bring in $1.53 trillion (+2.0%).
- Electronics: Revenues from electronic devices are projected to hit $735.76 billion, marking a 6.2% increase over 2023.
2025 Forecast and AI’s Influence
According to Gartner, one of the primary drivers of IT market growth is the adoption of generative AI. These technologies enhance the need for robust data center infrastructure and the development of supporting software ecosystems.
In 2025, Gartner forecasts that total IT expenditures will grow by 9.3%, reaching $5.75 trillion. The data center sector will see the highest growth, with a 15.5% increase to $367.17 billion. Enterprise software will expand by 14.0% to $1.24 trillion.
The IT services sector is projected to generate $1.74 trillion (+9.4%), while telecommunications services are expected to grow 4.4%, reaching $1.60 trillion. Electronics will bring in $805.72 billion, up 9.5% year-on-year.
We’ll keep you updated on further developments as the IT landscape evolves into 2025.