Worldwide revenues for IT products and services are set to surpass $2.7tn (£2tn) by 2020, driven by healthcare, manufacturing and financial services, according to IDC.
The increase represents a jump of 3.3 per cent from just under $2.4tn in 2016.
IDC claims that while consumer purchases accounted for nearly a quarter of IT revenue in 2015, consumer spending on PCs, tablets and smartphones has weakened, "dampening" the overall IT market.
It added that the digital transformation of companies in large industries has led to greater investment in third-party cloud and mobility platforms, which has in turn kept the overall market growing.
"While the consumer and public sectors have dragged on overall IT spending so far in 2016, we see stronger momentum in other key industries including financial services and manufacturing," said Stephen Minton, vice president of customer insights and analysis at IDC.
"Enterprise investment in new project-based initiatives, including data analytics and collaborative applications, remains strong and mid-sized companies have been especially nimble when it comes to rapidly adopting third-platform technologies and solutions.
"Assuming the economy remains stable in 2017, smaller businesses will also begin to climb aboard the third platform in greater numbers."
IDC predicts that the healthcare sector will outgrow other industries, with its IT spending set to rise 5.7 per cent by 2020.
Banking, media and professional services follow, with predicted IT spending growth of 4.9 per cent each and combined revenues of over $475bn.
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