Experts predict worldwide IT spend to grow despite a turbulent economy

Gartner forecast IT spending to grow 2.4% in 2023, and the segment IT services are estimated to grow 5.5%. IT investments rely on highly skilled experts, and companies need to re-think their strategies for attracting and recruiting talents.

Despite a turbulent economy and while inflation continues to affect consumer purchasing power, Gartner concludes that IT budgets are not affected by these shifts, and that IT spending remains recession-proof. For Sweden, Radar predicts that the total IT-budget will grow by 0.7% in 2023, while Enterprise IT is projected to grow 7.6%. 

High competition for talent drives cost for IT professionals 

According to Gartner’s forecast, there is a high competition to hire skilled IT staff, and its limiting companies growth due to difficulties in scaling when lacking necessary talent. Skilled IT workers are moving towards technology and service providers who can keep up with increased wage requirements, development opportunities and career prospects. As a by-product, Gartner predicts that spending on consulting is expected to reach $264.9 billion in 2023, a 6.7% increase from 2022. 

The changes in the labor market are pushing companies to alter their way of working. From having the expertise in-house, companies are now forced to identify, attract, match and engage talents in a global market. The shift in the competitive arena entails new challenges for the majority of companies and Ework plays an important and complex role in the ecosystem. By understanding the client’s needs and providing them with the right skills, we take on the role of a bridge and not a broker. We work hand in hand with clients, partners and professionals.

You can read Gartner’s forecast here