Even as the world faces macroeconomic challenges, demand for IT services is expected to remain strong. Global IT spending is projected to touch $4.6 trillion globally in 2023, according to a Gartner report. Technology has fast moved from being a discretionary spend to an essential function for businesses. Though IT spending is expected to grow by 5.1 percent between 2022 and 2023, it is significantly lower than the 10.2 percent growth witnessed between 2021 and 2022. Analysts at Gartner also added that consumer purchasing power has reduced significantly, leading to many consumers deferring 2022 device purchases to 2023, driving spending on devices down 8.4% in 2022 and 0.6% in 2023.