target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: Market Forecast - Doc Document number: # AP50294223
Australia and New Zealand IT Spending Forecast by Vertical Segment and Company Employee Size, 2021–2026
This IDC Market Forecast discusses the ANZ's IT spending in 2021 and forecasts expenditure through 2026. It is based on IDC's Worldwide ICT Spending Guide: Enterprise and SMB by Industry, which was updated in February 2023. The report contains market size and distribution for 120 technology markets grouped by devices, infrastructure, services, and applications and software, and further segmented by 19 industries and 5 company size bands. It also highlights growth drivers and inhibitors and presents key points for technology suppliers to consider.
"IT spending in ANZ is expected to reach US$56.9 billion in 2023, up by 5.9% from 2022 with a CAGR of 6.8% between 2021 to 2026. It is forecast to reach US$68.7 billion by 2026. Despite macro uncertainties and inflation, ANZ organisations are increasing IT spending, driven by digital business acceleration and an increased need for efficiency through AI and automation," says Linus Lai, VP of research and chief analyst and digital business research lead for ANZ, IDC Asia/Pacific.