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Whitepaper: Excellent Ways to Build A Cost-Efficient IT Organization

In 2020, the global IT domain took a small step back on the verge of overall revenue. As of August 2020, the research consultancy IDC projected global revenue of $4.8 trillion for the year, compared to their original estimate of $5.2 trillion. While the technology area fared better than many other industries during the COVID-19, it was not immune to cutbacks in spending patterns and deferment of major investments.

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Introduction

In 2020, the global IT domain took a small step back on the verge of overall revenue. As of August 2020, the research consultancy IDC projected global revenue of $4.8 trillion for the year, compared to their original estimate of $5.2 trillion. While the technology area fared better than many other industries during the COVID-19, it was not immune to cutbacks in spending patterns and deferment of major investments. Also, IDC projects that the technology industry is on pace to reach $5 trillion in 2021. If this number holds, it would represent 4.2% growth, signaling a return to the trend line that the industry was on prior to the pandemic. Looking even further into the future, IDC expects the pattern to continue, estimating a 5% compound annual growth rate (CAGR) for the industry through 2024. The United States is the largest tech market in the world, representing 33% of the total, or approximately $1.6 trillion for 2021. In the U.S., as well as in many other countries, the tech sector accounts for a majority of the proportion of economic activity. Information Technology pros see a bright future thanks to the high demand for skills, driven by the rise in importance of IT in business operations. Tactical IT will have a resurgence in 2021 as companies continue responding to needs highlighted during the pandemic. That said, businesses continue to struggle and rise by managing daily operations, while at the same time, boosting digital transformation with current resources and IT budget. Even as IT staff are knee-deep in day-to-day administration, end-user troubleshooting, and security management, they’re also involved in strategic migrations of core legacy systems and other complex IT infrastructure to new cloud-native environments—all while trying to meet expectations for perfect application performance, availability, and security.  

If your in-house IT team is swamped with the above-mentioned activities, then it is a no-brainer that you need to relook at your existing IT operations. It’s time to act now to digitally transform your business operations and prevent your IT infrastructure from getting all over the place.

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