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Expenditure in information technology sector will increase this year

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Expenditure in information technology sector will increase this year

Spending in the global information technology sector will increase this year. The amount of expenditure in this sector will increase by 6.2 percent to exceed 4.94 trillion dollars. Recently, this information has emerged in a report by market research firm Canalys.

Currently, more than 45 percent of the world’s population is going through issues such as climate change and natural disasters, geopolitical crises, energy security, cyber attacks and political elections. Along with this, the possibility of recession starting from inflation is affecting the global economy. However, market analysts said that various organizations are now becoming more aware of the use of information technology to increase the scope and productivity of their operations and create stable conditions.

According to Canalys, spending in the information technology sector in North America will increase by 6.6 percent this year. Through this, 38.8 percent of the total global expenditure will be under the control of the region. Many tech giants and startups have flourished in the region. Besides, various projects have been taken up at the government level as well.

In the Asia Pacific region, information technology spending will increase by 7.4 percent. According to Canalys, the rapid growth of the technology sector in China and India will act as a major influence in increasing this spending. In Europe, the Middle East and Africa, spending will increase by 4.2 percent.



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