Improvements and stability in business confidence across a range of industries will drive stronger IT spending growth this year, led by financial and professional services firms, retailers, and healthcare providers, according to a new study by International Data Corp.

Professional services firms, including cloud service providers, will increase their IT spending by 6 percent in 2017, while IT budgets in the financial services sector will rise by more than 5 percent. By 2021, IT spending will reach $2.7 trillion, with the largest contributions coming from consumers, banks, manufacturers, and telecommunications providers.

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