As more and more business is done in the digital space, firms are spending more on IT than ever before. A Gartner-Forbes survey showed that 64 percent of all companies surveyed will increase their IT budget. Key experts agree that investing in business technology is key for a competitive advantage. “Board directors clearly have a top priority to invest in IT and leverage IT for competitive advantage,” said Jorge Lopez, vice president and analyst at Gartner. “These forward-looking and proactive attitudes are being made although more than half of the survey respondents replied that they are preparing for a market recession.”
Overall, global IT spending will reach a total of 3.6 trillion dollars a year. This money is spent on things like IT support and AWS and Azure consulting. The influence if informational and technological services are playing a major factor in this increase in spending. Ninety-percent of respondents claimed that IT is a, “strategic contribution” to company operations. Half said they agreed that IT can, “change the rules of competition” in their industries. The saying, those who fall behind are left behind comes to mind.