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SMBs to Reach $1.4T in IT Spending — Analysys Mason predicts that IT spending by small and medium-sized businesses (SMBs) will increase to $1.4 trillion in 2022, a 5.9% increase over last year. That growth is expected to accelerate to 8% year over year by 2027.

The current growth rate will fall short of previous forecasts due to economic limitations and political uncertainty, the firm said, despite an optimistic view from SMBs following the pandemic.

“Although SMBs find the macroeconomic events concerning, they did not deviate drastically from their IT spending plans over the past 12 months,” Bob Takacs, research director and SMB IT practice leader at Analysys Mason, noted in the report.

SMBs are prioritizing three areas — managed services, infrastructure, and cybersecurity, which makeup 45% of SMB spending in 2022, according to the firm. 

“We see increased investments in categories driving resiliency and efficiency," Takacs continued. "This includes categories such as managed services, infrastructure, and cybersecurity. This is an important release because we accounted for the impact of three critical drivers including SMB’s changing behaviors post-pandemic, macroeconomic headwinds, and the global political unrest.”

Cloud services will drive overall IT spending growth “because they support a distributed workforce, improve efficiency, and provide business resiliency,” according to the firm. On cloud-based services alone, SMB spending will grow from $600 billion to $1 trillion by 2027.

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