Worldwide information and communications technology (ICT) spending is set to accelerate over the next five years, thanks to the growth of new technologies including the Internet of Things (IoT), robotics, augmented and virtual reality (AR/VR), and cognitive computing and artificial intelligence (AI).
The forecast is part of IDC’s latest Worldwide Black Book forecast. What this forecast shows is a tale of two ICT markets. The traditional IT and telecom spend will stagnate and move toward a handful of cloud computing giants. Traditional IT spending will grow 3 percent to 4 percent annually through the next 5 years. Telecom spending will grow 1 percent per year.
New growth opportunities have meanwhile emerged in the new technologies which IDC calls “Innovation Accelerators” (IoT, cognitive AI, robotics, AR/VR, 3D printing, and next-gen security). New ICT spending from these categories will grow by 17% in 2017, and will continue to accelerate over the next five years as adoption levels surge around the world, including in emerging markets. IoT, robotics, and AR/VR in particular will come to represent a significant proportion of the overall ICT market by 2021.
On the other side of the ICT spending equation are technologies such as IoT, AI, robotics, augmented and virtual reality, 3D printing, and next-gen security. Those new categories will see spending growth of 17 percent in 2017 and accelerate over the next five years.