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The IT market is forecast to record a stable local currency growth rate year-on-year in 2025 and accelerate in US dollar terms due to foreign exchange trends. There will be a strong dynamic for server spending in 2025 due to the AI-optimised hardware investment cycle, which will be boosted by shipments of Nvidia's new Blackwell architecture solutions. Over the medium term, advances in AI will drive market development by enabling new products and deepening the reach of the IT market into new areas of economic activity. There is upside potential for AI to accelerate digital transformation by increasing capacity and reducing the cost of software projects. The strategic nature of IT investments means that the market is expected to be relatively resilient over the medium term to most downside scenarios.