IT spending at a high-will hit $3.7 trillion in 2018 FEATURE
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Gartner releases its forecast on IT spending, saying the industry will experience highest growth level.

Gartner released its latest forecast on Monday, reporting that worldwide IT spending will reach $3.7 trillion this year. This is the highest annual growth rate Gartner has forecasted since 2007. Spending on devices like smartphones and tablets will grow in 2018 to a market value of $706 billion—this is a 6.6 percent increase from last year.

TechRepublic reports that organization's digital transformation will be a big reason for the increase in IT spending. Leading the growth is IT services and enterprise software. In fact, software is expected to see a growth of 11.1 percent, and data center a growth of 3.7 percent.

At the heart of Cisco's focus on software and subscriptions is intent-based networking. This new era of networking can monitor, identify, and react in real time to issues within a network. For businesses, this means automating at scale to get better insights, quicker.

Cisco also works with businesses and organizations to help them digitally transform, and the company's Country Digital Acceleration program enables transformation in countries as well. Cisco works with national leadership, industry, and academia to achieve digital innovation across public and private sectors.  

See also: 2021's global traffic data will be sky-high

With IT spending reaching the trillions in 2018, organizations will need a better, more efficient way to buy. That's why a startup named Hopper was created—to create a simplified way to buy tech online. Hopper was born out of Cisco's Hyperinnovation Living Lab–a 48-hour brainstorm with customers and partners that was focused around supply chain.

Through this two-day lab, CEO Jonathan Taylor worked with Cisco and DB Schenker to create a better tech product ecosystem. Hopper is a B2B online marketplace where customers can buy products and where Hopper can recommend services and real-time insights. This Amazon-for-tech offers complete solutions for its customers and provides vendors a new channel for delivering products.

The IT industry is set to rise high in 2018. Learn more about IT marketplace Hopper here

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About Stephanie Chan

Stephanie Ellen Chan is the Editorial and Video Producer at Cisco. She has a passion for writing about the intersection of culture, media, art, and technology.