Global information technology spending is set to grow by 3 per cent annually to $4.5 trillion in 2022 as chief information officers go ahead with investment plans despite rising inflation and currency volatility challenges, a Gartner study shows.
The latest forecast — which is higher than the research company's April prediction of $4.4tn — comes at a time when chief information officers continue to boost infrastructure investment despite price increases and supply chain uncertainty, which has been exacerbated by the Russia's military offensive in Ukraine, Gartner said.
“Inflation is top of mind for everyone. However, the current levels of volatility being seen in both inflation and currency exchange rates is not expected to deter CIOs’ investment plans for 2022,” said John-David Lovelock, research vice president at Gartner.
Inflation in the US and Europe is at a four-decade high and is surging around the world as energy and commodity prices remain high.
While the 3 per cent growth in 2022 is much slower when compared with last year's 10 per cent, spending is expected to pick up again next year.
Gartner predicts that IT spending will grow 6 per cent to about $4.8tn in 2023.
Investment in IT infrastructure is critical for companies, and “those that do not invest in the short term will likely fall behind in the medium term and risk not being around in the long term”, Mr Lovelock said.
Companies are focusing on improving their IT services as they compete to cater to societies that have become more heavily reliant on digital services.
The Gartner study showed that spending on data centres will record the strongest growth of all segments in 2022, increasing by about 11 per cent to $212 billion from $191bn last year.
Meanwhile, IT services spending is projected to grow 6.2 per cent this year, largely driven by a 17 per cent jump in cloud consulting, implementation and managed services.
Public cloud services spending will rise more than 20 per cent annually to $495bn this year, Garner predicted in May.
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
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The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
Results:
6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).
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Winner: Syncopation, George Buckell, Doug Watson.
7.40pm: Maiden Dh 165,000 1,400m.
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8.50pm: Handicap (85-105) Dh 210,000 2,000m.
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9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.
Killing of Qassem Suleimani
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
'Morbius'
Director: Daniel Espinosa
Stars: Jared Leto, Matt Smith, Adria Arjona
Rating: 2/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Fixtures and results:
Wed, Aug 29:
- Malaysia bt Hong Kong by 3 wickets
- Oman bt Nepal by 7 wickets
- UAE bt Singapore by 215 runs
Thu, Aug 30: UAE v Nepal; Hong Kong v Singapore; Malaysia v Oman
Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal
Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore
Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong
Thu, Sep 6: Final
CHINESE GRAND PRIX STARTING GRID
1st row
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)
2nd row
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)
3rd row
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)
4th row
Nico Hulkenberg (Renault)
Sergio Perez (Force India)
5th row
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)
6th row
Kevin Magnussen (Haas)
Esteban Ocon (Force India)
7th row
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)
8th row
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)
9th row
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)
10th row
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)
