Global investment in technology will grow 70% by 2023, according to report

Global investment in technology will grow 70% by 2023, according to report

Despite the tense relations between the US and China, as well as the shortage of chips, investment in technology remains in the interest of companies.

The high expectations of prosperity due to the digital market drive investments in technology despite external issues such as political tensions, high inflation, macroeconomic expectations, among others.

According to a report by, investment in technology in 2022 will grow by 5.1% worldwide in 2022, but this data could be much more in accordance with projections made by the technology firm Bain & Company.

Global IT spending is projected to rise to US$4.5 trillion in 2022, a high budget but reflecting the economic impacts of issues such as the Omicron variant of Covid-19 or fears of a global economic downturn.

High-growth tech companies have borne the brunt of recent market changes, yet 70% of companies are expected to increase their tech budgets by 2023 or stay the same, according to new research from Bain. & Company.

And it is that despite the global uncertainty due to an economic recession, technology will continue to be an important investment and a central source of productivity in all companies.

Innovation and digital tools, main drivers

“Executive leaders today see investing in innovation and digital tools as a way to drive productivity, speed and competitiveness, even in tough budget environments. In that order of ideas, although there have been financial impacts that have been caused by the behavior of the markets and international crises, the injection of resources in this area continues to occupy a primary line in the accounting of companies”, said Diego Santamaría , partner of Bain & Company.

This critical scenario, according to the consultant, has been accentuated due to several factors. The first of these is the constant tension in relations between China and the US, which has led to both commercial and regulatory conflicts; and the second, the shortage of chips, which has made it difficult for companies to access these inputs, generating difficulties in the production chains.

Despite the bleak outlook, Bain & Company highlights the importance of how reselling and recycling products can work not only to benefit the environment, but also benefit businesses by giving them a competitive advantage in technology. Even more so as companies in this industry continue to face pressure from investors, customers and regulators alike to reduce their carbon footprint.

Link: Global investment in technology will grow 70% by 2023, according to a report published in Valora Analitik – Economic, political, stock market and financial news. All rights reserved.

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