ICT Spending to Reach $4.6 Trillion Globally by 2022, 'Trade War' a Challenge, Says IDC
Global enterprise and consumer spending on information and communication technologies will grow 4 percent yearly, reaching $4.6 trillion by 2022, IDC forecast Monday. Business ICT spending will get “caught in the crossfire of headwinds and tailwinds over the next five…
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years as a softening global economy puts pressure on the ability of organizations to increase technology budgets,” it said: Amid "the U.S.-China trade war," the many businesses "increasingly dependent on China" could "continue their pivot away from the U.S." while "the conflict opens up opportunities to increase exports to the U.S." Commercial and government customers will be about 64 percent of total ICT spending by 2022, consumers the rest, it said: “Increasing saturation” in smartphones and tablets will cause consumer spending growth to “lag behind” spending elsewhere.