Gartner has released a fresh outlook for the global information technology (IT) market: the industry will return to growth after last year’s recession, driven by the pandemic and economic difficulties in various regions around the world.

Analysts account for the costs of all sorts of electronic devices, enterprise-class software, data center systems, IT services, and communications services.

At the end of 2020, the volume of this industry in monetary terms amounted to $ 3,76 trillion. This is 2,2% less than in the previous year. The most significant drop was recorded in the segment of electronic devices: here the revenue of suppliers decreased by 6,9%.

However, this year the global IT industry will return to growth. Gartner experts believe that its volume will reach $ 4,07 trillion, an increase of 8,4% in relation to 2020. Moreover, an increase in costs will be observed in all categories without exception (see the table below).

Next year the market will continue to demonstrate positive dynamics, but the growth rate will decrease to 5,5%. As a result, by the end of 2022, global costs will amount to about $ 4,30 trillion.

Against the background of distance learning and remote work, the demand for corporate-level software and computer technology will grow.