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Global information technology spending will grow 8.4% to $4.1 trillion in 2021, driven in part by enterprises accelerating their digital transformation plans, Gartner said in its latest IT spending forecast.
IT spending will be driven by digital business plans that will be refined and completed in 2021, Gartner said. More digital initiatives are originating from business departments outside of IT, making IT a full participant in business value delivery, said John-David Lovelock, a distinguished research vice-president at Gartner. As a result, Gartner expects to see the source of funding to be charged as a cost of revenue or cost of goods sold (COGS).
The source of funding changes “from an overhead expense that is maintained, monitored and sometimes cut, to the thing that drives revenue,” Lovelock said in the press release.