Forrester predicts that US business and government tech spending will surpass $1,5-trillion in 2018, up nearly 6% from 2017.
In its newly published 2018 outlook for US industry tech budgets, Forrester reveals industries with the fastest-growing tech budgets as well as the technologies they’re choosing to invest in.
Key findings from the research include:
* * The 5,8% increase in US tech spending is concentrated in tech staff salaries and benefits, tech outsourcing purchases, software and tech consulting, and systems integration services.
* * The US tech budget will grow faster than nominal GDP in 2018 due to the rising adoption of cloud solutions and an increased use of business technology.
* * Although US industries vary widely in terms of growth, half will have growth rates that exceed the overall US tech growth rate (5,8%). Ten industries will see growth of 7% or more in their 2018 tech budgets.
* * The chemicals and insurance industries will see the biggest tech budget growth in 2018, with an increase of approximately 11% and 10%, respectively.
* * Although the retail industry will experience lower growth in its tech budgets, it is expected to dedicate 45% of that budget to business technology.