Leading Managed Technology Services Provider Shares Significant Findings About IT Growth
CHANDLER, AZ – Imagine Technology Group, a prominent managed technology services provider (MTSP), recently highlighted insights from IT research and consulting firm Gartner. They report that “Worldwide IT spending is projected to total $4.5 trillion in 2022, an increase of 5.5% from 2021. The three largest subcategories of that $4.5 trillion forecast are enterprise software, IT devices, and IT services, which will see increases of 13%, 15%, and 11%, respectively. To put these numbers into perspective, total IT spending will rise by approximately $230 billion—an amount equal to 100% of the federal corporate income taxes collected by the US government in 2019.” This remarkable growth can largely be attributed to employers adopting work-from-home (WFH) or hybrid work environments, heightened security concerns over cyberattacks, and the global push toward cloud technology. For small to mid-sized businesses (SMBs), this translates to increased access to enterprise-level technology solutions that can drive productivity and enhance profitability if they position themselves strategically.
Mark Lasinis, CIO/VP of Technology at Imagine Technology Group, stated, “IT spending has increased so dramatically because the pandemic forced decision-makers to make their organizations more flexible. They’re starting to understand the increased potential they have to become more efficient with the latest technology. Small to mid-sized businesses are following suit with larger companies in IT spend because they realize that the hybrid/remote workforce is here to stay and will require support from cybersecurity solutions and cloud computing services. The remote workforce, cybersecurity concerns, and the world’s migration to cloud computing are all driving IT spending to unprecedented levels. The opportunity that SMBs need to seize now is to become early adopters so they can establish technological advantages over their competitors. Those who embrace these trends are likely to amplify their successes, while those who ignore the future of work may find themselves irrelevant.”
With an increasing number of ransomware attacks featured prominently in the media, cybersecurity vulnerabilities have become glaringly obvious in major corporations. However, this surge in spending indicates that large organizations will invest even more to strengthen their defenses against hackers, which may unfortunately leave small to mid-sized businesses as prime targets. For many small businesses, their IT defense strategy often relies on hope—hoping they won’t be targeted. As larger enterprises boost their spending and fortify their defenses, unprepared SMBs will unfortunately become ideal targets. Fortunately, the rise in spending has also spurred innovation within the cybersecurity sector, leading to a variety of IT solutions available to mitigate or even eliminate these threats at cost-effective rates, allowing business owners to ensure their organizations are protected from cybersecurity issues.
SMBs will also experience a significant demand for cloud computing due to its inherent scalability, flexibility, and superior capacity to allocate resources based on short-term needs. Cloud computing allows small businesses to “temporarily replicate” the infrastructure of S&P 500 companies when necessary, and subsequently reduce their usage and expenses when it’s no longer required. This development has major implications for leveling the playing field, enabling SMBs to compete with larger companies in ways that were previously unattainable, provided they have the right technology at their disposal. Cloud computing has become foundational for the future of all organizations, which is why Microsoft Azure is emerging as an industry standard for cloud computing, especially among SMBs.
“All of this increased IT spending reflects a world that is accelerating its transition into a fully digital realm, even faster than we thought possible,” added Mr. Lasinis. For SMBs, participating in this transition is crucial to uncovering opportunities that can strengthen their offerings, increase market share, and drive higher profits—before they risk being left behind.
ABOUT IMAGINE TECHNOLOGY GROUP
Imagine Technology Group (ITG) is an Arizona-owned and operated company that provides a single point of contact for all office technology needs. ITG offers a wide array of document management solutions, workflow improvements, multi-function devices, VoIP phone systems, digital signage, managed network services, and IT solutions. Through our manufacturers’ national programs, we can deliver service and support anywhere in the world. Our goal is to be our customers’ “ONE SOURCE” for any office technology solution they may need. With top-notch customer service from well-trained employees, ITG manages your technology so you don’t have to. To learn more about our products, services, and support, please contact ITG at 602-454-0720 or submit an inquiry at itgarizona.com/contact-us/.
