Alongside delivering critical benefits for the companies undertaking it the Digital Transformation also deliver a major boost to IT spending around the world. The IDC released new data indicating that global spending on IT services and products will grow to $2.7 trillion in 2020 from a $2.4 trillion in 2016. Companies investing in Big Data, Mobility and cloud technologies as part of their digital transformation effort are going to be the big part of the growth. In manufacturing and financial services, these efforts are now predominantly prominent.
In 2015 nearly a quarter of all IT revenues is accounted from the purchases on the consumer side. This is due to the ongoing what IDC calls smartphone explosion. Consumer spending on smartphone, tablet, and PCs is what really declining. Stephen Minton, vice president of customer insights and analysis at IDC mentioned in a comment that stronger momentum in other key industries including manufacturing and financial services are been observed while public sector and consumers have dragged on overall IT spending so far in the year 2016. Including data analytics and collaborative application enterprise investments in new project based initiatives remain strong. In terms of IT, expenditure healthcare will continue to be the fastest growing industry.