Digital transformation is giving IT spending a big boost

Digital transformation may promise critical benefits for the companies undertaking it, but it’s also delivering a major boost to IT spending around the world.

That’s according to market researcher IDC, which on Monday released new data indicating that global spending on IT products and services will grow from nearly $2.4 trillion in 2016 to more than $2.7 trillion in 2020. A big part of that growth, it says, will come from companies investing in cloud, mobility, and big data technologies as part of their digital transformation efforts. Such efforts are now particularly prominent in financial services and manufacturing.

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