Summary
Global tech spending will see robust 5.6% growth in 2025 to hit $4.9 trillion, driven by cybersecurity, cloud, generative AI, and the digital economy; tech spending growth will be highest in North America and Asia Pacific. The financial services, government, and media verticals will account for 46% of global tech spending in 2024; by 2029, 70% of tech spending will be on software and IT services. Businesses and governments must balance the availability of technical talent, including for AI, with managing tech margins, growing technology revenue, and minimizing technical debt. This report forecasts global tech spending growth by category and country with a breakout of industry tech spending in 2024.
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