Global IT spending is expected to reach $3.7 trillion (£2.8 trillion) in 2018, an increase of 4.3 per cent from this year’s estimated expenditure of $3.5 trillion, according to research firm Gartner.

The forecast revealed that enterprise software and IT services continue to show strong growth, with communications services continuing to drive the majority of spending. Software outgoings are projected to grow by 8.5 per cent in 2017, growing a further 9.4 per cent in 2018 to reach $387 billion.

IT services spending is on pace to grow by four per cent in 2017 to reach $931 billion, and increase by 5.3 per cent in 2018 to reach $980 billion.

Data centre systems will likely see a growth rate of 1.8 per cent next year, rising from spend of $173 billion this year to $176 billion in 2018.

“Looking at market opportunity – how profitable a market is, how big it is and how fast is it growing today and for the next five years – we have identified the top markets that companies should be looking to be part of in 2018,” said John-David Lovelock, research vice president at Gartner.

He added: “Global IT spending is showing little overall growth, as are traditional markets. These top ten markets will be the key to remaining relevant and achieving growth in the future.”

These ten markets – which include infrastructure as a service (IaaS), integrated platform as a service (iPaas) and communications platform as a service (cPaaS) – range from technologies that enhance the digital workplace, such as workstream collaboration, workforce analytics and video message-oriented middleware (MOM), to security (endpoint detection and response), analytics (smart data discovery) and storage (in-memory data grids).

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