2024 Global IT and Device Spending Forecast

According to Gartner's latest IT spending forecast, the global market for information technology and devices is expected to reach $5 trillion in 2024. This represents a significant increase from the estimated $4.6 trillion in 2023.

Increased investments in IT Services, software, and devices will primarily drive the growth. In particular, cloud-based solutions and digital transformation initiatives are expected to contribute significantly to this growth.

In this blog, we'll unpack these projections and how your organisation can be prepared to capitalise on this growth.

Forecast for Worldwide IT Spending in 2024

Gartner anticipates a robust 6.8% surge in global IT spending in 2024, bringing the total to a staggering $5 trillion. This significant growth is largely powered by the escalating adoption of digital technologies, such as cloud computing, artificial intelligence (AI), and automation across various industries.

As organizations increasingly rely on these advancements to maintain their competitive edge, the importance of a sturdy IT infrastructure cannot be overstated. This includes a reliable internet connection, secure software solutions, and a considerable device investment.

The Rollercoaster Trend in Device Spending

After a -8.7% dip in 2023 due to supply chain-related disruptions, device spending is set to rise by 4.6% in 2024. This rollercoaster trend highlights the impact of supply chain challenges and evolving consumer behaviors on IT investments.

However, with the shift towards remote and hybrid working models, organizations are expected to continue investing in laptops, tablets, and smartphones to support their employees. The demand for cloud-based collaboration tools is also expected to drive device spending.

The Role of Device Refresh in the Spending Surge

The device refresh cycle, an essential aspect of IT strategy, contributes significantly to this increase. Organisations must stay ahead of this curve to ensure optimal functionality, security, and efficiency in their operations.

With the rise of new technologies and innovations, older devices can become outdated quickly, putting organizations at a disadvantage. By investing in regular device refreshes, businesses can stay on top of the latest advancements while also reducing maintenance costs in the long run.

Navigating Device Refresh Strategies with VoicePlus

By employing VoicePlus's device refresh capabilities, businesses can effectively manage this cycle, ensuring they are equipped with the latest and most efficient devices. This optimises operations and aligns with the overall growth trend in global IT spending, allowing businesses to stay competitive in the constantly evolving digital landscape.

Our comprehensive device lifecycle management solutions ensure seamless device deployment, management, and retirement. From initial provisioning to ongoing support and eventual decommissioning, our tailored approach optimises device performance, reduces costs, and enhances security throughout the device lifecycle.

Businesses can accelerate deployment timelines, minimise errors, and improve user experiences by leveraging automation, standardisation, and centralised management tools.

Navigating Growth in 2024

By staying informed about industry trends, leveraging cutting-edge technologies, and partnering with trusted independent providers like VoicePlus, businesses can confidently navigate the 2024 IT spending surge.

Get in touch to learn how VoicePlus can help keep your mobile device fleet in top condition and optimise spend for 2024 and beyond.