IT spend as share of revenue worldwide 2022-2023, by industry
In 2023, software and tech hosting/cloud services/MSP companies had a much higher spending share on IT than other industries, amounting to 19 percent and 16 percent of their revenues, respectively. By contrast, the consumer products and services industry invested only around five percent of their revenue on IT. Overall, all industries increased their IT spending per revenue share in 2023 compared to the previous year.
