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Omdia: IT Opportunity to Reach $8.2 Trillion by 2031 Amid Rising Budgets

1. Global IT budgets to reach $12 trillion by 2031; investment opportunities expand. 2. Applications spending to increase by $1.3 trillion; corporate IT ratios grow modestly.

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Why Bullish?

Rising IT investments indicate a broader market expansion that could benefit TTGT's digital service offerings. Similar tech companies have historically gained as digital transformation accelerated.

How important is it?

While the data is macro-level and not TTGT-specific, it outlines trends that TTGT can leverage, making it moderately important.

Why Long Term?

The forecast through 2031 signals enduring market trends; TTGT may capture growth as IT budgets progressively increase over the coming years.

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LONDON--(BUSINESS WIRE)--Recent research from Omdia reveals that global IT budgets are projected to reach $12 trillion by 2031, with $8.2 trillion representing IT investment opportunities. The remaining $3.8 trillion will be allocated to staff costs and other operational expenses. Omdia forecasts that IT budgets will continue to grow as a proportion of corporate revenue, rising from 4.2% in 2024 to 4.5% by 2031. Applications will remain the largest IT budget category increasing by $1.3 trillion.

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