Global spending on IT services is expected to reach $3.54 trillion (£2.49 trillion) over the course over the course of the next 12 months, new figures have suggested.
A recent report from Gartner suggests spending will increase by 0.6 per cent compared to last year, with growth largely hampered by the largest US dollar drop in spending since the company first began tracking.
Gartner’s research vice president John-David Lovelock claims that the rising value of the dollar has been the main obstacle for worldwide growth, but insisted things should begin to pick up over the next 12 months.
He added: "U.S. multinationals' revenue faced currency headwinds in 2015. However, in 2016 those headwinds go away and they can expect an additional five percent growth."
Despite the rising popularity of mobile working, Gartner predicts 2016 could see a slowdown in device market of 1.9 per cent, with economic conditions set to have a particularly negative impact in countries like Russia, Japan and Brazil.
Meanwhile, emerging markets are due to favour lower-cost phones amid weaker-than-expected growth in tablet adoption in certain regions.
Although worsening economic conditions are set to have a negative impact on certain sections of the market, it will, according to Gartner, have little effect global enterprise software spending, which could increase by 5.3 per cent to reach $326 billion.
Spending in the IT services market is expected to return to growth, bouncing back from a 4.5 per cent decline in 2015 to reach $940 billion in 2016
Researchers have credited the accelerated momentum in this part of the market with an increased level of cloud infrastructure adoption and greater acceptance of the cloud model among buyers.