Global IT Spending to Hit $2.98 Trillion by 2032 on Cloud, AI and Cybersecurity

Global information technology spending will reach **$2.98 trillion** in 2032, up from **$1.92 trillion** in 2025, driven by cloud, artificial intelligence and cybersecurity. Software accounts for **38%** of spending in 2026 and North America concentrates **42%**.

The world's technology bill keeps growing. A study by **Markntel Advisor** puts global IT spending at **$1.92 trillion in 2025**, and projects the figure to rise to **$2.11 trillion in 2026** and **$2.98 trillion in 2032**. That represents a compound annual growth rate of **5.92%** between 2026 and 2032. Behind these figures lie software, devices, data centre systems, communication services and everything that keeps banking, healthcare, industry, commerce and public services running.

## North America accounts for 42% of global spending

North America contributes around **42%** of global IT spending in 2026. It does so through large-scale investment in cloud infrastructure, software, artificial intelligence, semiconductors and federal digital modernisation. The region starts with an advantage: advanced infrastructure, high technology adoption among businesses and the presence of the major hyperscale cloud providers serving customers worldwide. To this are added public digitalisation programmes that renew systems and citizen services.

The counterpoint is China, the fastest-growing country: around **11.19%** annually between 2026 and 2032. Its server spending is expected to advance at **19.21%** over the same period. That pace reflects rising investment in data centres and artificial intelligence workloads, which is changing where new computing capacity is built and how quickly it is expanded.

## Software takes 38% of the corporate budget

By component, close to **38%** of total spending in 2026 goes to the software segment. Demand for enterprise applications, infrastructure software and generative AI models is driving it. Organisations are directing ever more money towards scalable software solutions rather than isolated hardware purchases, as they accelerate digital transformation and automate core business processes.

Data centre systems are the fastest-growing segment, at an approximate rate of **15.18%** between 2026 and 2032, pushed by investment in hyperscale data centres and AI workloads. Those workloads need high-performance computing, fast storage and reliable networks, which adds further pressure on data centre demand. Cloud services, cybersecurity platforms, AI tools and hybrid working technologies continue to dominate sector spending.

## Banking contributes 22% and spends on defending itself

By end user, around **22%** of total spending in 2026 comes from the banking and financial services segment, whose core operations are technology- and transaction-intensive. Banks keep investing in digital banking platforms, mobile applications, fraud detection systems and data analytics tools to improve customer experience, regulatory compliance and operational efficiency.

Second-tier banks' spending will grow at an approximate rate of **11.19%** between 2026 and 2032, as they modernise core systems and strengthen their cyber resilience. High-frequency digital payments, real-time settlement systems, anti-money-laundering monitoring and evolving cybersecurity threats relentlessly expand the infrastructure needs of financial institutions, whatever their size.

## Cybersecurity takes $260 billion

Digital transformation and cloud migration accelerate spending because organisations reallocate budgets to modernise systems, adopt cloud platforms and sustain AI workloads. Corporate budgets are shifting towards generative AI and sovereign cloud infrastructure, leaving behind traditional hardware and legacy systems. **Eurostat** records that most companies buying cloud services use them for email, office software and file storage, and its press release notes that paid cloud use has risen noticeably since 2014.

Cybersecurity and data privacy risk is a major challenge alongside that rapid transformation. Distributed operations and cloud migration widen the attack surface for ransomware, embeleco digital and large-scale data breaches. Cybersecurity investment is expected to reach some **$260 billion** worldwide in 2026. A ransomware attack on a healthcare payments subsidiary disrupted pharmacy claims and payment systems in the United States, with an estimated financial impact of more than **$1.6 billion**. Incidents like this slow down cloud and AI deployment timelines and force companies to weigh estimulante ilegal against resilience, credential protection and the cost of securing a highly digitalised infrastructure.