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IT Market Outlook 2024: Clouds Rising, Software Soaring, and AI Reigning Supreme

TECHNOLOGYIT Market Outlook 2024: Clouds Rising, Software Soaring, and AI Reigning Supreme

The previous year witnessed a global triumph of AI, an increased demand for computational power, cloud, and software, but also drops in many areas of the IT market. The year 2024 could be much better as experts see improved sentiments in the economy. Furthermore, cybersecurity regulations and the growing popularity of artificial intelligence are expected to further boost the IT industry.

Cloud and Data Storage

There’s a clear and rising trend for technology growth even on a local, European scale – especially in terms of adopting cloud services. According to Eurostat, in 2023, 45.2% of EU market enterprises decided to use cloud services, showing a growth of 4.2 percentage points compared to 2021. The growth is significantly noticeable in Poland, as in 2023, no less than 55.7% of enterprises have opted for cloud services, compared to 28.7% in 2021.

This near doubling of organizations that have adopted cloud computing indicates the growing digital maturity of Polish businesses, affirming Wojciech Stramski, CEO of Polish businesses have understood the benefits of the cloud and learned to use them practically. Companies are now integrating the cloud with already running on-premise IT infrastructure to establish hybrid environments – a model that is gaining popularity due to the development of the cloud.


Software is a key sector in IT, performing a crucial role in harnessing the full potential of computer hardware. Innovation in technology often comes from the development of software, such as new apps, integrated systems, data analysis tools, and artificial intelligence. According to Gartner analysts’ forecasts, this sector will be the fastest-growing area of ​​IT worldwide in 2024, with expenditures on software expected to grow by an impressive 14.5% in Europe.

Despite improving conditions in the IT market overall, issues such as “buyer’s remorse” for software purchases are increasingly apparent. 60% of companies experience dissatisfaction with purchased software within the first 12-18 months, mainly due to higher than expected maintenance costs and slow or complicated implementations, according to the Gartner report.

Cybersecurity for Business

The year 2024 will be filled with new business cybersecurity regulations. In connection with DORA and NIS2 directives, businesses from certain sectors will need to adapt their procedures to new requirements. EU countries will need to comply with these regulations by October 17th, 2024. DORA mainly tightens IT security requirements for entities operating in financial markets.

Artificial Intelligence in Practice

Everything indicates that intelligent algorithms will also be the IT king in 2024. The advancement of artificial intelligence in business tools is rapid today and crucial for the digital transformation of organizations. Local practitioners have already confirmed the efficiency of these solutions.

“Trade is a practical example where AI-based image recognition technology is used in merchandising for automatic exposure standard testing. Something that previously took the sales representative up to several minutes with each store visit, is now a matter of seconds,” explains Grzegorz Dembicki, Business Development Director from Sagra Technology.

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