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2021 is likely to see a 6.2 percent growth in global spending in the Information Technology sector

Research agency, Gartner has recently provided some estimates about the total expected IT spending around the world, and the figures are a little astounding, if not completely unexpected.

The 2020 coronavirus pandemic brought on some changes in the way the world functions. Owing to the necessary social distancing and lockdown measures to control the spread of the virus, businesses had to shrink down and find ways to survive the pandemic somehow. This resulted in a lack of investments and spending in newer technology throughout 2020.

However, due to the pandemic, the trends of remote working, distance learning, and education also saw a major surge. Now, the pandemic is still there and these trends of working from home, new ways to expand the horizons of remote education, and global business transformations are expected to take place in 2021. And this is what going to take spending in the IT sector all over the world to almost around $3.9 trillion!

The research agency has estimated that the growth of the IT sector will be around 6.2 percent in 2021, whereas it had gone down to 3.2 percent in 2020.

The researchers believe that 2021 will not see a sudden boom as the countries are still recovering from the major economic shock of the pandemic, and they will need some time to show a complete rebound. So, it should not be expected that the IT spending would be as much as it used to be in 2019 before the pandemic had hit the world. But it will certainly see a rise in 2021 owing to the newer trends that businesses need to adapt if they want to continue to survive and flourish. Similarly, the education sector also needs newer technology to make distance learning easier for the students.

As per some recent surveys, many small and medium-sized companies are not on a Cloud model, and this affects their remote business operations. Now, after seeing the consequences of this lacking in their corporal infrastructure, a majority of these companies are trying to make the shift towards digitalization. So, this kind of business transformation will also require newer software and advanced tech, and this will inadvertently increase the spending in the IT sector, software, new devices, and everything else during this entire year 2021.

The enterprise software is likely to see growth by around 8.8 percent, and new devices to facilitate remote education is expected to grow by 8%.

Some of the most used technologies this year are going to be related to facial recognition, behavioral event analysis, customer-employee-user experience improving tech, privacy facilitating tech, cloud computing, and distribution, improvements in the software related to cybersecurity and business solutions, etc.

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