Cloud News
Gartner: Top 5 Markets In $4.6 Trillion Tech Industry For 2023, 2024
Mark Haranas
Here are the top five market segments that will reap the most sales in 2023 and 2024, according to new data from Gartner, as global IT spending is projected to reach $4.6 trillion this year.
No. 5: Data Center Systems
2022: $216 billion
2023: $224 billion
2024: $238 billion
Once front and center in the global technology landscape, data center systems have taken a back seat to technology services and software.
The data center systems market ranks No. 5 on Gartner’s list of IT spending markets, expected to increase 3.7 percent in 2023 compared with 2022. Data center systems sales this year will reach $224 billion, according to Gartner data.
In 2024, the data center systems market is expected to increase by 6.1 percent year over year to $238 billion.
As enterprises navigate continued economic turbulence, the split of technologies being maintained versus those driving the business is apparent in their position relative to overall average IT spending growth, according to Gartner. “For example, there is sufficient spending within data center markets to maintain existing on-premises data centers, but new spending has shifted to cloud options, as reflected in the growth in IT services [versus data center systems],” said Gartner’s Lovelock.
