Global IT spending to reach $3.5T next year: 5 things to know

Global IT spending is expected to increase in the coming year, according to a Gartner report.

Here's what you need to know:

1. In 2016, global IT spending is expected to reach $3.4 trillion.

2. Global IT spending is expected to increase by 2.9 percent in 2017, reaching $3.5 trillion.

3. This growth is driven by revenue from software and IT services; software spending is expected to increase by 7.2 percent in 2017 and IT services spending is expected to increase by 4.8 percent in 2017.

4. Neither the U.S. presidential election nor its winning candidate is expected to impact these IT spending trends.

5. The report suggests that Brexit has negatively impacted IT spending; however, software and IT services spending in Germany, France and other European countries have increased, even as spending in the United Kingdom stagnates.

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