New Technologies Will Drive ICT Spending Back to Double the Rate of GDP Growth, According to IDC | Business Wire

The changing workforce and the thirst for technology, smarter devices, better customer service and the desire for instant transactions, the desire for companies to become more agile and responsive is becoming more of a focus now than ever before.

Total worldwide ICT spending will grow from $4.3 trillion in 2016 to $5.6 trillion by 2021, according to a new IDC Worldwide Black Book forecast.

A large proportion of this spending will come from the fast-growing IoT market, which is forecast to reach almost $1.3 trillion in annual revenue by 2020, of which more than $1 trillion represents new opportunity outside of traditional technology market categories (devices, infrastructure, software, services, and telecom)