Founder, Professor, and Managing Director of the Global Institute for IT Management
From 2015 to 2024, the global trend in IT budget allocation shows an increase in cloud spending, rising from 15.5% to 18.5%, accompanied by a corresponding decrease in employee spending, which has dropped from 38% to 33.6%.
Global IT spending is projected to rise 7.5 percent to 5.3 trillion U.S. dollars over 2024 🤯 Software spending, which includes the cloud, will register the highest year-on-year growth in 2024, at 12.6 percent, followed by IT services, at almost five percent. This suggests that businesses will spend more than ever on newer technologies that are driving business and digital transformation. To learn more insights like these download our latest report in partnership with Statista → https://lnkd.in/d5gr4WUp
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Do enterprises intend to shift their core connectivity business—from telcos to other vendors; cloud providers, channel partners or opt for private networks? A report from Mckinsey indicates that many do. Despite the rapid growth of beyond-the-core services, core connectivity remains the largest opportunity for #B2Bgrowth for CSPs in the coming years. 📈 While new services are growing at an impressive pace, the core connectivity continues to outshine. However, the challenge of a balanced GTM strategy remains. Telcos want to transform to more vertical digital offerings while maintaining revenues from legacy offerings. The need to innovate while maintaining core services creates a strategic tightrope, demanding agility and foresight. #Connectivity #B2BGrowth #Innovation #ICTTransformation
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✏️ The Future of IT Outsourcing: Trends and Predictions Emerging Trends in IT Outsourcing The IT outsourcing landscape is rapidly evolving, driven by advancements in technology, shifting business needs, and changing economic conditions. Key emerging trends include: Cloud Computing and Hybrid Solutions: Businesses are increasingly moving towards cloud-based solutions and hybrid models that combine on-premises and cloud services. This shift offers greater flexibility, scalability, and cost efficiency... For more detail: https://lnkd.in/gv9Sj9pk
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Worldwide IT spending is expected to reach $5.1 trillion in 2024, representing an increase of 8 percent compared with this year, according to Gartner. The largest tech markets in 2024 will be IT services at $1.55 trillion, communication services at nearly $1.5 trillion, followed by software spending at approximately $1 trillion. Spending on cloud computing, as well as cloud vendor price increases, will lead to the fastest area of spending growth in software and IT services, Gartner said. Stay in the know and get fresh insights from Tranter IT via our mailing list. Visit www.tranter-it.com #DidYouKnow #ITIndustry #Gartner #IndustryNews
As the rapid pace of change accelerates in the digital economy, organizations racing to remain competitive and enhance business value are facing significant new challenges to manage cloud spending. Explore more: https://lnkd.in/gGRGdXyj #KPMG #KPMGinCambodia #CostOptimization
According to the report "Telecom Cloud Market Size, Share & Industry Analysis" by Fortune Business Insights, the global telecom cloud market is booming: from $18.81 billion in 2023, it is projected to grow to $139.31 billion by 2032, with a CAGR of 24.9%. North America will lead this growth, driven by the demand for innovative and scalable cloud solutions for the telecom industry. Read all the details in the article: https://lnkd.in/dUy5BFU6
Stay Ahead of IT Market Trends Navigating the rapidly changing IT landscape can be challenging. Our IT Center of Excellence (COE) provides valuable insights into market trends, such as enhanced discipline around cloud governance and cost management, as well as rising challenges associated with SaaS overconsumption and inflationary pricing. Stay informed and ahead of the curve with our expert guidance. For more, read more in our Information Technology Market Q1 2024 report here. https://lnkd.in/e8GRfjWD #MarketTrends #ITExpertise #ProcurementValueCreation
