In 2023, spending on IT services amounted to around *** trillion U.S. dollars worldwide. And in 2024 spending came up to **** trillion U.S. dollars. IT services market The IT services market encompasses a range of offerings that assist enterprises in implementing, managing, and operating a wide variety of systems, software, and equipment that are used in modern IT environments. Some of the market’s major sub-segments are managed services, which accounted for over *** billion U.S. dollars in 2020, and Software-as-a-service (SaaS), which was forecasted to account for over *** billion dollars in 2020. IT services are one of the fastest growing segments in the overarching IT industry, trailing only enterprise software in terms of year-over-year growth. Developments in the market Perhaps one of the most exciting developments in IT services in recent years has been the growth of cloud computing. Cloud computing describes the use of networks of remote servers - usually accessed over the Internet - to store, manage, and process data. As a segment of IT services, cloud computing generates billions of dollars in revenue annually and is showing few signs of slowing down.

In 2024, spending on devices amounted to around *** billion U.S. dollars globally, an increase of around *** percent from the previous year. Global IT spending is expected to reach approximately *** trillion U.S. dollars in 2025, increasing by about four percent compared to 2024. Around *** billion U.S. dollars are forecast to be spent on devices.

Research and development (R&D) spending was forecast to reach over **** trillion U.S. dollars globally in 2022 (once local currencies are converted for purchasing power parity). This compares to around one trillion U.S. dollars in 2005, and around *** billion U.S. dollars in 1996. Spending decreased somewhat in 2020 following the outbreak of COVID-19, but increased again in 2021 and was forecast to do so in 2022 too.

Globally, information technology (IT) spending has increased over recent years. In 2024, IT spending amounted to ***** billion U.S. dollars.

In 2023, around ** percent of the global spending made on market research was directed to market measurement surveys. In the same year, a further ** percent of this spending was absorbed by CRM systems/customer satisfaction.

Global spending on information security and risk management will amount to *** billion U.S. dollars in 2024. By 2028, information security and risk management spending is forecast to exceed *** billion U.S. dollars.

Nearly *** billion U.S. dollars were spent on electric cars across the globe in 2024. Consumers made up just over ** percent of this spending. In contrast, while governments had increased their electric car spending, their share of the total funding remained under ** percent, impacted by the rollback of electric vehicle subsidies in some countries.

In 2023, gross consumer mobile app spending amounted to *** billion U.S. dollars, up from the *** billion U.S. dollars in 2022. Consumer app store spending was strongly impacted by the COVID-19 pandemic in 2020 and 2021, but spending trends are slowly normalizing after after a two-years boost in app usage and engagement. Additionally, a possible recession in several key global markets could impact users' spending behavior further.

In 2025, global telecommunication services spending is expected to amount to around **** trillion U.S. dollars, an increase of nearly * percent on the previous year, despite the decrease seen from 2023 to 2024.

The source projected that advertising spending will continuously grow in almost all world regions between 2025 and 2026. In the United States and Canada, the figure will increase by around *** percent in that period, standing just below *** billion U.S. dollars by the latter year. Meanwhile, Latin America will experience an expansion of approximately *** percent, whereas ad spending in Central and Eastern Europe (CEE) was predicted to stale.

In 2018, the U.S. share of total global health expenditures was at 41 percent, and was forecasted to decrease to 35 percent during the coming decade until 2028. Indian and South Korean shares of global health expenditures were forecasted to grow to 3 and 2 percent, respectively.

In 2022, the highest share of research and development spending (R&D) was made within the hardware technology producing industry, accounting for a total of nearly ** percent of the global R&D spending. The health sector and software producers followed in second at nearly ** percent each. In total, global R&D spending reached *** trillion U.S. dollars in 2022. Health industry and COVID-19 The high share spent by the health industry must be seen in relation with the COVID-19 pandemic that started spreading in late 2019 and caused deaths, lockdowns, and restrictions throughout 2020 and onwards. As governments and pharmaceutical companies sought to find an efficient vaccine against the virus, investment in research continued to increase. However, regardless of the pandemic, R&D spending within health care is essential in order to combat a variety of diseases, from small pox via malaria to cancer. Information and communication technology As people around the world become more and more dependent on information and communication technology, research spending by companies producing hardware and software continues to increase as these seek to further develop. For instance, all the seven companies with the highest R&D spending in 2022 were either software or hardware producing companies. The largest single investor was the software giant ******.

The statistic depicts the business and government spending worldwide on technology products and services from 2016 to 2021. Global spending on technology goods and services is estimated to exceed 3.7 trillion U.S. dollars by 2021.

The majority of mobile apps include upgrade possibilities, with users being able to purchase subscriptions or make one-time payments. Between the first and the third quarter of 2023, around 97 percent of the consumer spending recorded on business apps worldwide came from subscriptions. Similarly, 96.5 percent of the consumer spending on health and fitness apps came from global users starting a mobile subscription. In comparison, 77 percent of consumer spending on books and reference apps on iOS came from one-time purchases.

Total IT spending worldwide is expected to increase by *** percent in 2025, with spending on data center systems forecast to increase by **** percent. Demand for data center capacity has surged amid the adoption of data intensive technologies such as artificial intelligence (AI) and the cloud.

Global bleisure travel spending, which involves trips combining business with leisure components, was expected to increase by *** percent between 2021 and 2027. In the forecast year, the expenditure of travelers taking blended trips – another term to refer to such trips – was expected to reach around *** billion U.S. dollars.

According to recent global forecasts for the entertainment and media market, cinema spending would grow by **** percent annually between 2022 and 2026. The highest growth is attributed to data consumption, which is set to grow by ** percent in the same period.

The estimated ad spending in Central and Eastern Europe is forecast to reach nearly 14.5 billion U.S. dollars in 2022. In comparison, the ad spending in Latin America in the same year is expected to amount to around 29.1 billion dollars.

Consumer spending on smart home products and services is forecast to grow to more than *** billion U.S. dollars by 2025. At that time the number of households with smart home systems is projected to exceed *** million globally. Smart Home Systems Smart home systems provide a variety of functions that can be managed remotely by a smartphone or computer. Many consumers are likely to purchase smart speakers and smart home entertainment systems. However, use of smart devices goes beyond simply entertainment, as smart home appliances such as security systems or automatic heating and lighting can help improve the safety and comfort of being at home. Smart speaker: a versatile favorite Smart speakers are an increasingly popular component of a smart home and will have shipped over ** million units by the end of 2019. These devices are more than simply music players, as many have smart assistant capabilities, and can respond to verbal prompts or command other smart home devices. Of these speakers, a majority are sold by Amazon, though in recent quarters, Google and Baidu have both grown to be close competitors in terms of unit shipments.

In 2021, small and medium businesses' (SMB) spending on IT services is forecast to amount to approximately 1,135 billion U.S. dollars. As businesses recover from the pandemic, this figure is forecast to increase to 1,200 billion U.S. dollars in 2022.