United States IT Spending Market Report and Forecast 2023-2028

United States IT Spending Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the United States IT spending market attained a value of USD 1247.70 billion in 2022. Aided by the growing adoption of cloud computing, the market is projected to further grow at a CAGR of 3.83% between 2023 and 2028.

IT services are the applications and data services that businesses use to manage and optimise data and communication throughout the whole organisation. With the establishment, management, and troubleshooting of various services like network, software, cloud computing, and more, IT services enable the smooth flow of work in businesses.

The United States IT spending market is expected to expand as a result of the increasing popularity of cloud computing spurred on by advances in cloud solutions and data management. The numerous advantages supported by cloud services enable businesses to increase their profitability. This is a significant market driver for IT spending in the United States. However, there are potential drawbacks since if third party management is used, data and privacy may be at risk. Deploying appropriate IT services to examine the execution of processes, storage of data in apps, and network connections helps address potential risks.

As the volume of data available for analysis is growing at an astounding rate, the implementation of database management systems (DBMS) is increasing. Digital services are being used with greater frequency and accordingly, the expansion of the United States IT spending market will likely be aided by the increasing need for data services. The adoption of flexible payment options that allow businesses to pay for cloud services in accordance with their needs is predicted to dramatically increase IT spending.

To increase their market, established tech companies are working with developing nations. The United States has started numerous joint efforts with developing nations like India. The growing use of machine learning and artificial intelligence in businesses for data management makes it easier for businesses to outsource data in line with their interests, thus aiding the United States IT spending market.

Additionally, companies can deploy their own systems to aid in specific duties which will likely help accelerate the growth of the IT spending market. The introduction of 5G technology has led to networks improvements by organisations as high data transfer rates are supported by 5G. As businesses invest in data centres and modernise their technology, this may open up new prospects for the growth of the United States IT spending market.

Market Segmentation

The market can be divided on the basis of types and region.

Market Breakup by Types

• Data Centre Systems

Breakup by Company Size

Total Spending by Company Having Less Than 300 Employees

Total Spending by Company Having 300-2000 Employees

Total Spending by Company Having More Than 2000 Employees

• Enterprise Software

Breakup by Type

Business Intelligence Software

Content Management Software

Customer Relationship Management Software

Enterprise Resource Planning Software

Supply Chain Management Software

Breakup by Company Size

Total Spending by Company Having Less Than 300 Employees

Total Spending by Company Having 300-2000 Employees

Total Spending by Company Having More Than 2000 Employees

• Enterprise IT Services

Breakup by Type

Customised Software and App Development

Services Including IT consulting

Others

Breakup by Company Size

Total Spending by Company Having Less Than 300 Employees

Total Spending by Company Having 300-2000 Employees

Total Spending by Company Having More Than 2000 Employees

• Devices

Breakup by Company Size

Total Spending by Company Having Less Than 300 Employees

Total Spending by Company Having 300-2000 Employees

Total Spending by Company Having More Than 2000 Employees

• Communications Services

Breakup by Company Size

Total Spending by Company Having Less Than 300 Employees

Total Spending by Company Having 300-2000 Employees

Total Spending by Company Having More Than 2000 Employees

Market Breakup by Region

• West
• Mid West
• Southwest
• Southeast
• Northeast

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the United States IT spending market companies.

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.