Spending on technology at a global level is expected to total US$3.9 trillion in 2020. Software will be the fastest-growing major market in 2020, reaching double-digit growth at 10.5 per cent. Communications services spending will reach approximately $1.4 trillion. IT services will account for almost $1 trillion of investments at growth of five per cent while data centre systems will represent $208 billion in spending with growth of 1.9 per cent next year. Gartner: Cloud-based IT spending for cloud-based offerings will be faster than growth in traditional IT offerings through 2022.”]
Source: https://sg.channelasia.tech/article/670356/software-spending-set-skyrocket-2020/