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If there was ever a sign to show how much the technology industry is booming, you might be stunned to know that the company International Data Corporation IDC estimates the world will spend $2.4 Trillion in U.S dollars on technology in 2017.

The IDC estimates that consumer technology like personal laptops, phones, etc will make up only 20% of the revenue in technology. The 80% will be bought by businesses looking to build p their technological capabilities. The majority will come from businesses with over 1,000 employees, and small businesses will make up 25% of all spending.

The industries expected to spend the most on technology are financial services and manufacturing industries. This is due to their efforts to reinvent themselves for the cloud/mobile age. Professional services and the healthcare industries are expected to accelerate their spending the fastest.

North America will be the world’s biggest IT hub, and the United States will be the world’s biggest spender. The U.S is expected to spend $920 billion alone. Europe will make up more than 20%, Asia-minus Japan will account for slightly less that 20%. Latin America is expected to see the largest growth in purchasing technology.

The firm also predicts that software will outsell hardware by 2020 due to the cloud. These are all predictions, but it will be interesting to see how this plays out of the year.
To read more about this, check out the article on The Register. Click Here

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