Worldwide IT investment to reach £1.37 trillion

16th July 2013

In 2013, at total of £1.37 trillion is expected to be invested in software, hardware and IT services around the world, an increase of 3.3%.  One of the biggest drivers of this growth will come from software, accounting for around 26% of the total spend, driven largely by the increase in mobile apps and cloud technology.

A further 19% of this total will come from consultancies, which provide guidance on which software to use, how it can change a business and how to implement it.  3squared have 11 years’ experience of helping business to make the most of ever-changing technology and developing award-winning software.

Hardware will also experience growth, due to the major innovation of equipment such as tablets. This is expected to increase hardware spend by 2.5% from 2012 and 5.1% going into 2014.  The report, from global researchers and advisors Forrester, notes that big companies such as Apple will be focussing on software updates this year, rather than new hardware launches.

The US will see some of the biggest local growth as the economy begins to recover, expected to be around 5.9%.  However some Northern European countries, which spend the most on technology relative to the size of their economy, will see very minor growth and even slight decline in some cases.

The UK’s investment will be around £69.1 billion, an increase of just 0.5%, but which is anticipated to grow a further 4.6% the following year.  The report also broke down where UK firms spend their IT budget, with around 31% going on staff, 20% on software, 16% on hardware, 11% on telecommunications, 11% on third-party IT services and 8% on contractors.

Overall a very healthy growth considering the economic climate and one that is expected to continue to grow for some time, as mobile spending booms and more and more business realise the importance of investment in technology.