In 2023, software and tech hosting/cloud services/MSP companies had a much higher spending share on IT than other industries, amounting to ** percent and ** percent of their revenues, respectively. By contrast, the consumer products and services industry invested only around **** percent of their revenue in IT. Overall, all industries increased their IT spending per revenue share in 2023 compared to the previous year. Cloud computing Cloud computing is an essential IT service that utilizes a network of distant servers hosted over the Internet to store, handle, and process data. This segment of IT services was projected to generate revenues exceeding *** billion U.S. dollars in 2024 and is expected to continue its rapid growth trajectory. Managed Services Providers (MSPs) provide companies with the expertise and technical support to manage their cloud infrastructure and products without the need for in-house specialists. Cloud computing is segmented into three main categories. Software as a Service (SaaS) delivers software applications over the Internet, on a subscription basis, freeing companies from software and hardware management. Infrastructure as a Service (IaaS) offers a virtualized computing infrastructure managed over the Internet, allowing businesses to avoid the costs and complexities of purchasing and managing physical servers and data center infrastructure. Platform as a Service (PaaS) provides a platform allowing customers to develop, run, and manage applications without the complexity of building and maintaining the infrastructure.

This statistic depicts the spending of the U.S. pharmaceutical industry on research and development at home and abroad from 1990 to 2024. Spending of the U.S. pharmaceutical industry (PhRMA members) on research and development abroad totaled approximately **** billion U.S. dollars in 1990. Until 2024, this amount increased to over ** billion U.S. dollars.

In 2023, roughly ** percent of the global spending made on market research services came from the manufacturing sector of non-durables. Furthermore, almost ** percent of the global spending on market research was from pharmaceutical manufacturing.

In 2023, the highest share of research and development spending (R&D) was made within the software and internet developing industry, accounting for a total of nearly **** percent of the global R&D spending. The health sector and hardware producers followed in second and third at around 18 and 26 percent respectively. 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 ******.

Pet industry expenditure in the United States reached over *** billion U.S. dollars in 2024. It should be noted that the source used a new research methodology from 2018, therefore, direct comparisons to previous years should be avoided. The increase in the household penetration rate for pet-ownership in the U.S. could partly explain the rise in pet industry expenditure over the years. In 2023, some ** percent of American households owned one or more pets, in comparison to a ** percent pet-ownership rate in 1988. Which product categories are most lucrative? In 2022, ******** was the highest selling pet market product category with sales of around ** billion U.S. dollars. Vet care and supplies/OTC medicine ranked in second and third places, with sales of around **** and **** billion dollars respectively. Within the pet food segment, dry dog food is by far the highest selling product type, followed by dog treats and wet cat food.

This forecast shows the financial services companies' IT spending share worldwide in 2021, broken down by industry. In 2021, it is forecast that the banking sector's IT spending will amount to ** percent of the overall IT spending in the financial services sector.

In 2021, the banking, finance and insurance industry in Italy is forecast to spend around ***** million U.S. dollars on software. By 2024, the industry's spend on software is projected to go down to ***** million U.S. dollars.

According to recent market calculations, the digital advertising spending of the entertainment industry in the United States reached close to *** billion U.S. dollars. The sector is projected to spend **** billion dollars in digital advertising in 2021.

In Italy, the magazine industry spent over *** billion euros. According to the forecast, this expenditure will decrease between 2020 and 2024. By the end of the period, it will amount to *** billion euros

The statistic shows the global forecast spending on artificial intelligence (AI) by industry group in 2020. Spending on artificial intelligence in the financials sector is forecast to reach ** billion U.S. dollars.

In 2021, utilities companies from Italy are forecast to spend around ** thousand U.S. dollars on software. By 2023, this number is projected to decrease to ** thousand U.S. dollars.

According to the source's projections, the political sector's advertising spending will increase by over *** percent worldwide in 2024 – the year of a presidential election in the United States, for instance. Non-profit organizations and financial services followed with forecast growth rates of almost ** and ** percent, respectively. The same source predicted South Asia will record the highest ad spend expansion among world regions in 2024.

Concerning the ** selected segments, the segment Social Networking has the largest ad spending with ****** billion U.S. dollars. Contrastingly, Medical is ranked last, with **** billion U.S. dollars. Their difference, compared to Social Networking, lies at ****** billion U.S. dollars. Find more statistics on other topics: a comparison of countries or regions regarding the social network reach and a comparison of the desktop & mobile ad spending share in Eastern Europe.The Statista Market Insights cover a broad range of additional markets.

Expenditure on artificial intelligence (AI) showed significant diversity among industries in 2023, with the banking and retail sectors leading in terms of the most substantial AI investments during that year. The banking sector's spending accounted for **** percent of all investments, followed by the retail sector with **** percent. Worldwide spending on AI was estimated at *** billion U.S. dollars in 2023.

In 2024, the spending in the information technology sector across India was around *** billion U.S. dollars. It was projected that in 2025, the IT spending of India would reach more than *** billion dollars. The IT-BPM industry contributed about seven percent to the GDP of the nation. The industry also generated a revenue close to *** billion dollars in the financial year 2024. Communication services and the devices have been the dominant segments of the IT industry. The IT and ITeS firms of the country have set up over a thousand global delivery centers in about ** countries globally. IT-BPM at a glance The industry has generated maximum employment in the private sector. It also made the country, the leading offshoring destination for global IT companies. Major IT firms in the country like Infosys, Wipro, TCS and Tech Mahindra have diversified options available in blockchain, artificial intelligence, robotics, financial services, cloud computing and much more. Banking and financial services had the largest share of annual contract value in the industry. Recent trends Public cloud services have picked up a lot of attention in recent years in the country. The market for cloud services was valued at over ******billion dollars in 2023. Artificial intelligence (AI) has also attracted many attentions. In 2023, the investment in AI has reached ************* billion dollars in the country. Emerging technologies in the sector could provide the nation with an opportunity to surf for a big growth, both in onshore and offshore services revenues.

In 2022, companies based in the United States and the EU stood behind the highest global spending on research and development (R&D) within aerospace and defense, accounting for more than ** percent of global spending. Moreover, China completely dominates R&D spending on construction, amounting to ** percent of worldwide spending. Looking at single companies, Amazon spent the highest amount on R&D in 2022.

In 2021, the mining and quarrying industry in the United Kingdom (UK) is forecast to spend around ****** million U.S. dollars on software. By 2024, the industry's spending on software is projected to increase to ****** million U.S. dollars.

In 2021, manufacturing companies from Italy are forecast to spend around ************ U.S. dollars on software. By 2023, this number is projected to surpass ************** U.S. dollars.

During September 2024 a survey among chief marketing officers (CMOs) from for-profit companies in the United States, respondents reported that the overall marketing spending of education corporations increased by an average of ***** percent throughout the preceding 12 months. The same sector raised its digital marketing spend by over ** percent. Meanwhile, the mining and construction segment reduced its overall and digital marketing expenditures by *** and **** percent, respectively.

In 2021, manufacturing companies from Germany are forecast to spend around ** thousand U.S. dollars on software. By 2023, this number is projected to surpass ** thousand U.S. dollars.