Companies will spend $3.5 trillion on tech this year — the price it would cost to buy Apple 4.5 times

pulse

July 13, 2017 6:24 PM

Enterprise software in particular is expected to grow by 7.6% globally this year

It's money, money, money for the information technologists of the world.

Not all of this has to do with currency though. Enterprise software in particular is expected to grow by 7.6% globally this year, compared to 5.3% growth last year. Gartner attributes this to software's increasing role in digital businesses. Companies increasingly rely on digital applications to make money.

Device spending is expected to grow 3.8% in 2017, making it a $654 billion market — a bump from last quarter's projection of a 1.7% increase. Devices include PCs, tablets, mobile phones and "ultramobiles," which are basically just devices somewhere between a phone and a tablet in size.

Mobile phone spending is driven primarily by an increase in phone prices. Tablet spending, though, is in decline because people don't replace them as often.

pulse