Cloud to lead record IT spending in 2022

A new report by Gartner predicted that worldwide IT spending is poised to reach $4.5 trillion in 2022, a 5.1% increase from last year, according to ZDNet. The cloud segment is expected to have the highest year-over-year spending gain at 11%, followed by the IT services market, with Gartner Research Vice President and Distinguished Analyst John-David Lovelock attributing this year‘s growth to the resumption of investments after companies spent last year on stabilizing IT changes done in 2020. “[N]ow we have companies going, alright, we know [where] we have been, we know what worked during the pandemic, we probably know where we want to be,“ said Lovelock. Organizations are also believed to increase cloud spending as they seek to bolster workforce flexibility. “[Chief information officers] and CEOs have many things on their mind, including inflation, growth, vacancies, and their war for talent. Applications that solve one or more of these problems are the ones that are going to get greater traction,“ Lovelock added.