Global IT spending to top $2.7T by 2020 — Financial services, manufacturing & healthcare account for the highest spending

Worldwide revenues for information technology products and services will grow significantly over the next few years, with the financial services, manufacturing and healthcare sectors leading the spending, according to new research from International Data Corporation.

Here are five trends in global IT spending:

1. Global spending on IT will grow from nearly $2.4 trillion in 2016 to more than $2.7 trillion in 2020.

2. The spending will represent a compound annual growth rate of 3.3 percent from 2015 to 2020.

3. Healthcare will remain the fastest growing segment with a five-year CAGR of 5.7 percent.

4. Banking, media and professional services will also experience strong growth in the forecast period with CAGRs of 4.9 percent.

5. Consumer purchases accounted for nearly a quarter of all IT revenues in 2015.

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