The costs of IT infrastructure and operations are undergoing a dramatic change. Before, practically all IT costs revolved around hardware and software purchases, maintenance, and upgrades. Today, however, with the rise in cyber threats, the advent of cloud computing, and the emergence of new business-impacting factors (e.g. the current pandemic), companies are faced with additional costs which, if not managed properly, can seriously impact other areas of the business.

Gartner projects that IT spending will reach an astounding $4.5 trillion in 2022, the highest year-over-year jump in more than 10 years. Let’s have a look at the key areas where IT costs are expected to come from and what you can do to reduce them.