Driven by innovation, the information technology sector is constantly evolving. The IT industry grows at such a high pace that making correct predictions about its future is almost impossible. The most recent information technology stats can only confirm that the IT exceeded expectations yet again, particularly regarding employment trends in the industry.
As a result, today’s article will not attempt to make any future forecasts, but merely give you the current state of the IT sector both globally and in the US. Since information technology is a very broad topic, the focus will be on IT budgets, spending, and employment in these two markets.
Top 10 Information Technology Stats and Facts
The global IT spending for 2022 amounts to $5.3 trillion.
The average company allocates about one-third, or 34% of its IT budget, to growth.
80% of businesses in the USA and Canada planned on increasing their IT spending budgets in 2022.
Companies from the construction and trade services sector plan a 10% median IT budget increase.
83% of companies from all sectors plan on increasing their spending on cloud applications.
Organizations that create software allocate 18% of their revenues to IT spending.
The average company allocates 25% of its IT budget to people and services.
The estimated number of IT workers in the USA in 2022 is 8,679,198.
1,950,875 programmers, software, web, and QA developers are working in the USA in 2022.
The net employment growth rate of IT workers for 2022 is estimated at 2.4%.
General Information Technology Industry Stats
The global IT spending for 2022 amounts to $5.3 trillion.
The USA is the largest tech market in the world and as such, it is expected to account for 33%, or $1.8 trillion, of the global IT spending. Europe is the second-largest tech market, with 19%, while South East Asia is third, with 14%. The combined shares of these two markets are as big as the USA’s alone. The US market is solely responsible for 507,096 IT business establishments that collectively employ 5.8 million workers, which is 5.7% of the entire American workforce.
(CompTIA)
1,950,875 programmers, software, web, and QA developers are working in the USA in 2022.
IT statistics show that programmers and developers are the leading IT occupations in the American tech market. In addition to them, there are 756,067 IT support specialists and repair technicians, 736,417 cybersecurity specialists and system engineers, and 684,079 network support specialists, architects, and engineers.
Additionally, the stats show that the number of IT project managers and emerging tech specialists currently working in the US is 391,467, while another 230,621 Americans are employed as computer and data scientists.
(CompTIA)
The average company allocates 25% of its IT budget to people and services.
A recent information technology industry analysis reveals that companies spend the largest portion, or more precisely exactly one-quarter, of their total IT budgets on the people who provide IT services for them. The second biggest share of 20% of their budget goes to the software they have on their premises, while a slightly smaller share of 19% goes to SaaS (software as a service) expenses. Only 17% of their IT budget is spent on hardware, and an even smaller share of 14% is allocated to PaaS (platfrom as a service) expenditures.
(Flexera)
28% of the IT spending in the US IT industry is allocated to IT + business services.
Together with the 22% allocated to software, they account for half of the spending in the US IT market. The other half is split between telecom services with 19%, devices + infrastructure with 18%, and emerging technologies with the smallest share of 13%.
However, the stats show that the spending allocations in the global IT industry are vastly different from the ones in the US. Namely, the largest share of spending, of 25%, on the global market is allocated to telecom services, while 22% is allocated to devices + infrastructure. Moreover, only 20% is allocated to IT + business services, 19% to emerging technologies, and 14% to software spending.
(CompTIA)
74% of companies want to increase the use of external cybersecurity resources.
The information technology statistics from a recent survey reveal that organizations plan to increase the use of external resources across multiple areas of IT, not just cybersecurity. Namely, 63% of organizations want their external partners to play a bigger role in big data analytics, while 61% of companies say they could use extra outside help regarding the automation processes in their work.
Furthermore, 60% of companies say they need increased use of external resources regarding cloud operations, 59% need outside help with AI and machine learning, and 58% of companies need increased use of external resources with the cloud migration processes in their organizations.
(Flexera)
Information Technology Industry Growth Statistics
80% of businesses in the USA and Canada planned on increasing their IT spending budgets in 2022.
What’s more, the median increase in IT budgets is 5%, which is the highest growth in recent years. In comparison, the IT budget growth in 2021 was 3%, in 2020 it was 3%, in 2019 it was 3.1%, and in 2018 it was 2.8%. Moreover, the latest stats show that small businesses plan the highest median IT spending increase of 5.5%, while medium-sized and large businesses plan 5% and 4.3% increases, respectively.
(Computer Economics)
Companies from the construction and trade services sector plan a 10% median IT budget increase.
According to the IT budget by industry statistics, this is the highest increase planned across all sectors, followed by government and nonprofit organizations that intend to increase their IT spending by 8.5%.
Moreover, retail and wholesale businesses plan a 5.2% increase, while the planned IT budget increase for companies from the financial, healthcare, and professional and technical services sectors is 5%. Only companies from the utilities and manufacturing industries plan below the median increases of 4% and 3.5%.
(Computer Economics)
83% of companies from all sectors plan on increasing their spending on cloud applications.
The cloud is undoubtedly one of the main drivers of the growth of information technology and there are stats that back this fact up. In addition to the 83% of companies who want to increase their cloud application budgets, 73% plan on increasing their spending on cloud infrastructures.
Furthermore, 65% of organizations plan on increasing their data analytics and business intelligence budgets, 54% want to invest more in digital transformation, and 49% in disaster recovery and business continuity. Another 42% plan on increasing their system and data integration spending, while a significantly lower portion of 13% want to invest more in legacy system modernization.
(Computer Economics)
Organizations that create software allocate 18% of their revenues to IT spending.
The most recent IT spend by industry stats show that companies that create software allocate the largest percentage of their revenues to IT spending, followed by tech hosting and cloud services, which allocate 11% each. Furthermore, financial services companies dedicate 10% of their revenues to IT spending, while retail and ecommerce businesses allocate 7%.
The stats also show that organizations from the healthcare sector, as well as companies that provide transportation and logistics services, allocate a similar percentage of 5% of their revenues to IT spending. Finally, companies from the consumer products and industrial products sectors, have the lowest IT spending by industry at 3% and 2%, respectively.
(Flexera)
The average company allocates about one-third, or 34% of its IT budget, to growth.
The remaining two-thirds, or 66% of the IT spending, is used to simply run the business and its IT operations. Furthermore, according to the most recent findings, three-quarters, or 75% of the IT budget, is controlled by the IT departments, while business units only manage the remaining 25% of the IT spending.
(Flexera)
Stats About IT Employees and Their Growth
2,763,328 IT employees in the USA, work in the IT and custom software services branch.
Information technology industry stats by segment reveal that the highest number of IT employees work in custom software development, followed by the research & development, testing, and engineering services branch which counts 1,968,103 employees. Furthermore, 1,398,645 IT workers work in telecom, data and internet services, 1,175,854 in tech manufacturing, and the lowest portion of 522,323 IT people work in the software products segment.
(CompTIA)
29% of IT employees work remotely full-time due to COVID.
A recent study on employees from the IT field shows that only 26% of IT workers work in the office full-time. According to the stats, 16% of IT workers work in a hybrid approach where they work remotely for 1-4 days a week, and another 16% permanently work remotely regardless of COVID.
Moreover, 5% are independent contractors, another 5% are outsourced, and 3% work part-time. Additionally, 75% of companies want to invest in upskilling their current IT workforce, while 72% want to invest in remote workers, 43% in independent contractors, 39% in outsourcing, and 31% in offshoring IT talent.
(Flexera)
The estimated number of IT workers in the USA in 2022 is 8,679,198.
Information technology employment statistics show that at the beginning of the previous decade, in 2010, there were 6.4 million Americans working in the IT industry. In the following ten years, the number increased to 8 million.
According to estimations, the number of IT workers in the USA should increase to 9 million by 2030, however, it already reached 8.6 million in 2022. Moreover, the stats show that less than half, or 41%, of all IT workers, actually work in companies from the tech sector, while 59% are hired by organizations from every other industry.
(CompTIA)
The net employment growth rate of IT workers for 2022 is estimated at 2.4%.
Moreover, information technology growth statistics reveal that the employment rate of IT workers in the tech sector will be higher, at 3.5%, than their employment rate in other industries, which is estimated at 1.4%. The IT occupation predicted to have the highest employment growth rate is data scientist, with 4.3%, followed up by cybersecurity specialist, with 4%.
Furthermore, the employment of software developers and QA specialists is expected to grow at a 3.9% rate, while research scientist jobs should grow at a 3.5% rate. IT industry growth statistics predict slower growth for web developer and interface designer jobs, at 2.6%, and the employment growth of IT project manager and emerging tech jobs should be even lower at 2.1%. Finally, the employment rate of IT support specialists is expected to grow at the slowest rate of 1.7%.
(CompTIA)
California was the state with the largest number of emerging IT job postings in 2021, with 167,759.
The state with the second-highest number of emerging IT job postings in 2021 was Texas, with 101,016. Information technology stats also show that Texas was also the state with the highest growth in employer job postings that year, with 53,123 new IT openings.
On the other hand, Florida had the largest number of new IT business establishments opened in 2021, with 2,715, followed by Texas, with 1,807, and California, with 1,199. Finally, the stats reveal that the IT sector generates more than $10 billion of economic impact in 27 US states. California tops this list as well, with $516 billion of economic impact generated by the IT sector statewide. According to this figure, the IT sector accounts for 18% of the state’s economy.
(CompTIA)
Fun Information Technology Facts
The median yearly wage of all IT occupations in the US is estimated at $94,058.
Compared to the median annual salary of all occupations, from all industries in the US, IT workers get a 125% higher median pay. The official data from the US Bureau of Labor reveals that research scientists received the largest annual median pay of $131,490 among all IT workers. Computer network architects were the second-best paid, with a median pay of $120,520, followed by software developers and QA analysts whose median annual salary was $109,020.
Furthermore, information technology statistics show that cybersecurity specialists had a median annual pay of $102,600, while data architects and administrators made $101,000 per year. The median yearly salary of computer systems analysts was $99,270, programmers made $93,000, and network and system administrators made $80,600 per year. Finally, web developers and interface designers had an annual median wage of $78,300, and computer support specialists had the lowest median at $57,910.
(CompTIA, BLS)
The total number of information technology major degrees awarded in 2020 in the USA was 28,174.
Information technology graduation rate statistics further reveal that the number of students who graduated with an IT major has increased by 6.45% compared to the year before. The largest number of degrees in 2020 were awarded by the University of Phoenix - Arizona. This university awarded 1,557 degrees or 5.62% of the total awards awarded that year. The IGlobal University, on the other hand, had the highest percentage, with 59.2% of the degrees awarded being IT majors. The stats also show that the median out-of-state private tuition for IT majors was $31,247 in 2020.
(Data USA)
21.1% of IT majors start working as software developers after graduating.
While the largest percentage of IT majors kick off their careers as software developers, information technology employment statistics also show that 5.16% of IT majors get employed as programmers, and 4.88% as computer and information system managers.
Additionally, 3.94% find work as computer support specialists, 3.36% as computer system analysts, and 1.32 as cybersecurity analysts. Only 1.85% get hired as network and computer system administrators, while the percentages of graduates who find work as software QA analysts and data architects are even lower at 1.15% and 1.11%, respectively. Finally, the stats show that just 0.79% of IT graduates find work as web developers.
(Data USA)
Female IT workers represent 26% of the IT workforce in the USA.
One of the more unfortunate facts about information technology employees is that the IT workforce is not ideally diversified. Even though its Diversity Index measure is currently at 58 and two points above the national average, female employees represent 49% of the total US workforce, which indicates a 23% gap.
Additionally, such gaps exist when looking at the racial and ethnic demographics as well. Namely, Black Americans represent 12% of the overall US workforce, but only 8% of the IT workforce in the US. Similarly, Hispanic Americans represent 16% of the entire workforce in the US, but only 8% of the total number of IT employees in the country.
(CompTIA)
1,411,447 American IT workers are currently located in California.
The latest IT statistics show that California is the state with the largest number of IT workers in the USA, followed by Texas with 790,981, and New York with 506,529. When it comes to growth, Texas had the highest gains in IT employment between 2020 and 2021, with 10,851 new IT jobs, while Florida is a close second with 10,522. Lastly, the stats also show that 9.4% of the entire workforce of Washington is comprised of IT workers, making it the state with the highest percentage of IT employees in the country.
(CompTIA)
Information Technology FAQ
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Conclusion
As the data illustrated, the IT industry growth can be noticed across the board. Not only IT organizations, but companies from almost every other sector increase their IT spending to keep up with the competition that’s already using the latest tech. Everyone tries to implement cloud technologies, big data analytics, AI, and machine learning to gain better business intelligence.
This creates loads of new IT job opportunities so the number of IT employees grows at an incredible pace. We have been hearing that IT is the place to be a lot in recent years. It turns out that not only this statement is still the truth, but it is more relevant than ever.
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