Forrester Projects Surge in Global Tech Spending by 2025

Published 1 days agoFORR

Forrester Projects Surge in Global Tech Spending by 2025

Forrester Research has revealed substantial progress in artificial intelligence, projecting a growth in global technology spending of 5.6% in 2025. This increase is expected to bring the total to $4.9 trillion, up from $4.7 trillion in 2024, driven by the swift adoption of software, IT services, generative AI, and cloud technologies.

The AI software market, a significant contributor to this growth, is anticipated to double from $33 billion in 2021 to $64 billion by 2025, according to Forrester. This growth rate surpasses that of the broader software market, as investments in AI-enhanced software and applications expand. Despite these investments, Forrester notes a potential shift in how enterprises approach generative AI projects, with likely reductions in large-scale initiatives in favor of more focused efforts due to challenges in ROI.

Forrester's insights highlight how quickly AI technologies are evolving and influencing tech spending globally. Meanwhile, Forrester Research Inc.'s stock price stands at $9.72, with minimal change from the previous day, showcasing its stabilizing position in the market amidst these technological advancements, as reported by The Hindu Business Line.

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