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Global tech spend to rise despite difficult economic conditions

Much of this year’s projected spend will be focused on tech software and services

In 2022, the six largest cloud providers captured 4.7 per cent per of global tech spend, as well as 26.4 per cent of tech spend growth between 2018 and 2022

Spending on technology will grow 4.7 per cent to reach $4.4 trillion this year, although Europe will lag behind other regions in terms of investment, according to a new forecast from Forrester.

Much of this year’s projected spend will be focused on tech software and services, which is expected to grow twice as fast as other categories in 2023. Indeed, by 2027, spending on software and services, versus alternate categories such as communications equipment and ...