Forrester's analysis indicates that European organizations will increase IT spending by 5% in 2025, reaching $4.9 trillion. Key growth areas include artificial intelligence (AI), cybersecurity, and cloud infrastructure. While Europe lags behind the US and Asia Pacific in tech spending relative to GDP, the Asia Pacific region is expected to grow significantly, especially with India leading at 9.6% growth. Software and IT services will make up a substantial portion of the global tech expenditure, with software alone projected to grow rapidly, capturing a significant share of tech spending by 2029.
"Over the next five years, technology investments will reshape industries at an unprecedented pace," said Michael O'Grady, principal forecast analyst at Forrester.
Europe is set to spend less than the US and Asia Pacific as a proportion of gross domestic product (GDP).
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