0
Technologies related to the Internet of things, robotics, artificial intelligence and virtual and augmented reality will juice global information and communications technology spending, according to IDC.
Information and communication technology (ICT) spending includes traditional IT as well as telecom services. IDC is forecasting traditional ICT spending to lag gross domestic product (GDP) through 2020, but new technology investment will boost overall spending.
According to IDC, ICT spending will jump from $4.3 trillion in 2016 to $5.6 trillion by 2021. That growth equates to a 6 percent compound annual growth rate. Spending on new technologies will accelerate.
The forecast is part of IDC’s latest Worldwide Black Book forecast. What this forecast shows is a tale of two ICT markets. The traditional IT and telecom spend will stagnate and move toward a handful of cloud computing giants. Traditional IT spending will grow 3 percent to 4 percent annually through the next 5 years. Telecom spending will grow 1 percent per year.
On the other side of the ICT spending equation are technologies such as IoT, AI, robotics, augmented and virtual reality, 3D printing and next-gen security. Those new categories will see spending growth of 17 percent in 2017 and accelerate over the next five years.
Robotics in business: Everything humans need to know
These new technologies will ultimately represent 75 percent of ICT spending by 2021.
Related:
Here’s a look at the top 2018 strategic IT budget priorities: AI, IoT, conversational systems, security everywhere
How digital transformation is reshaping the IT budget: The journey of 3 CIOsInfographic: 2018 IT budgets are up slightly; spending focus is on security, hardware, and cloudFree PDF download: Tech Budgets 2018, a CXO’s GuideAI? Blockchain? Cloud computing? What technologies are CIOs really investing in right now?
AI:
Inside the black box: Understanding AI decision-makingInfographic: 50 percent of companies plan to use AI soon, but haven’t worked out the details yetFive ways your company can get started implementing AI and MLWhy AI and machine learning need to be part of your digital transformation plansShould Amazon be your AI and machine learning platform?Should Google be your AI and machine learning platform?Should Microsoft be your AI and machine learning platform?Should IBM be your AI and machine learning platform
Big data:
Turning big data into business insights: The state of playInfographic: Most companies are collecting data, but aren’t using big data solutionsFree PDF download: Turning Big Data into Business InsightsFive organizations that are using big data to power digital transformationChoosing the best big data partners: Eight questions to askSeven pitfalls to avoid when using big data to power digital transformationTech’s war on drugs: How big data is being used to fight the US opioid epidemicBooktopia uses big data to test assumptions before implementing changes
IoT:
Enterprise IoT in 2017: The state of playInfographic: Companies are using IoT to monitor environments and improve productsInternet of Things: CIOs are getting ready for the next big revolutionThe Internet of Things: 10 types of enterprise deployments16 questions CXOs should ask before starting an IoT projectHow to calculate TCO and ROI for enterprise IoT implementationsHow to secure your IoT deployment in 10 stepsThe five industries leading the IoT revolution
AR/VR:
AR and VR: The future of work and play?Research: 67 percent considering adoption of augmented reality in the enterpriseExecutive’s guide to the business value of VR and AR (free ebook)Ten industries using augmented reality and virtual realityFive tips for creating virtual reality product demosFive ways augmented reality will transform your business
Robotics:
Why it’s time to prepare for a world where machines can do your jobWhen robots eliminate jobs, humans will find better things to doExecutive’s guide to AI and the future of IT jobs (free ebook)Research: Automation crucial for 60 percent of organizationsNo, AI won’t eat your job, say tech chiefs, and here’s whyBusiness process automation: Where it works, and where it doesn’tThe first 10 jobs that will be automated by AI and robotsTen jobs that automation won’t kill off
0