Gartner analysts forecast worldwide IT spending to total $3.79tn in 2019, an increase of 1.1 per cent up from 2018.
CPI breaks down which market segments Gartner says are set for the most growth, and which will slump into declining IT spend.
1. Enterprise Software: +7.1 per cent
Gartner has revised down its 2019 IT spend forecast, in part, fuelled by "currency headwinds" generated by a strengthening dollar.
However, the runaway growth area for 2019's IT sector will be enterprise software.
In 2019, the market is forecast to reach $427bn.
Predicted to grow 7.1 per cent year on year, it is set to enjoy the highest growth rate of any segment.
"The shift of enterprise IT spending from traditional (non-cloud) offerings to new, cloud-based alternatives is continuing to drive growth in the enterprise software market," Gartner's report reads.
"The largest cloud shift has so far occurred in application software. However, Gartner expects increased growth for the infrastructure software segment in the near-term, particularly in integration platform as a service (iPaaS) and application platform as a service (aPaaS)."
2. IT Services: +3.5 per cent
The second highest growth segment is set to be in IT services, totalling $1.016tn in 2019.
Gartner's research VP John-David Lovelock, highlighted, in particular, the role of AI in "reshaping business models".
"Disruptive emerging technologies, such as artificial intelligence (AI), will reshape business models as well as the economics of public and private-sector enterprises," he said.
"AI is having a major effect on IT spending, although its role is often misunderstood.
"AI is not a product, it is really a set of techniques or a computer engineering discipline."
"Gartner's AI business value forecast predicts that organisations will receive $1.9tn worth of benefit from the use of AI this year alone."
1. Datacentres: -2. 8 per cent
The data center systems segment will experience the largest decline in 2019, with a decrease of 2.8 per cent, to $204bn.
"This is mainly due to expected lower average selling prices (ASPs) in the server market driven by adjustments in the pattern of expected component costs," Gartner's report read.
However, the datacentre market is currently predicted to grow marginally in 2020 to $207bn.
2. Devices: -1.9 per cent
Spending on devices is also set to trend downwards, by 1.9 per cent, to $655bn.
Likewise, spending on devices is forecast to recover in 2020, to an anticipated $677bn.
Gartner's research VP John-David Lovelock advised firms that they need to make strategic changes to their portfolio now, to reap the reward sin 2020.
"Product managers will have to get more strategic with their portfolio mix by balancing products and services that will post growth in 2019 with those larger markets that will trend flat to down," he said.
"Successful product managers in 2020 will have had a long-term view to the changes made in 2019."
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