World spent $895 billion on technology

honeypotA survey by IDC estimated that total spend on IT during 2014 amounted to a staggering $895 billipn.

The top three spenders were grocers Wal-Mart, the Bank of America Corporation, Citigroup, AT&T and JP Morgan Chase.

The survey said nine out of 10 spenders spent more in 2014 than 2013, with companies allocating as much of a third of their tech spending on internal IT, telecommunications, and telecoms staff and related benefits.

The research is based on a rolling analysis of over 2,600 business entities worldwide, and IDC’s definition of IT includes hardware, software, services, telecoms and internal IT spend.

Unfortunately, IDC did not supply the names of the IT vendors who serviced and supplied the top 10 honeypot spenders.