Projects overall global growth of 4.4% to $3.25 trillion; cloud-based technologies remain a bright spot
5G phones will account for just over half of smartphones shipped worldwide in 2022, rising to 80% by 2026, IDC is predicting
The IDC is predicting 5.7% growth this year and 5.2% growth in 2023 for the worldwide IT and business services market
The public cloud services market grew by a hefty 29% last year with the top 5 cloud providers capturing nearly 40% of the market according to IDC
IDC believes that the market will continue to expand throughout the next few years at a rate of 4% to 5%, with cloud technologies being an important driver
The IDC is forecasting that U.S. spending on artificial intelligence solutions will hit $120B by 2025 and that media is one of the fastest growing sectors
New IDC forecast estimates that global spending on software, hardware and services for artificial intelligence will top $500 billion in 2023
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