IT Spending Expected to Drop in 2016

IT Spending Expected to Drop in 2016

The spending outlook does not translate to any halt in digital initiatives, but it does mean CIOs will need to revise spending models.

Overall IT spending totaled just more than $3.5 trillion in 2015, down 6% from the year before.

Overall IT spending is projected to decrease to about $3.49 trillion this year, down .5% compared to 2015.

Communications services spending declined to $1.47 trillion this past year, down 8.4% from 2014.

The communications services market is expected to fall to $1.44 trillion in 2016, down 1.2% this year.

IT services spending dropped to $910 billion in 2015, down 4.7% from the year before.

The IT services market is forecasted to grow to $929 billion this year, up 2.1% from 2015.

Device spending declined to $650 billion in 2015, a drop of 6.4% from the year before.

Device spending will further decline to $626 billion this year, down 3.7% from 2015.

Software spending declined to $308 billion last year, a drop of 1.9% from 2014.

Software spending is projected to increase to $321 billion this year, up 4.2% from 2015.

Spending on data center systems reached $171 billion last year, up 2.9% from 2014.

The data center systems market is expected to increase to $175 billion in 2016, up 2.1% from 2015.