IT Budget stories
Despite organisations cutting spending in many areas during 2020 due to the impact of COVID-19, security remains a consistent area of increased investment.
The core processes of budgeting, planning, and forecasting have come under pressure due to remote working, prompting a need for new approaches.
Worldwide government IT spending is forecast to total $483 billion in 2021, an increase of 5.1% from 2020, according to the latest forecast by Gartner.
Increased budgets and cloud migration are top priorities for UK IT decision makers in 2021, says Next Pathway research.
Global IT spending set to reach $3.9tn in 2021, growing by 6.2% YoY, a significant improvement after last year's decline due to COVID-19, says Gartner.
IDC's survey found that, while cost optimisation remains a priority for these organisations, an appetite for continued investment into technology is common.
The report further states that 74% of enterprises intend to maintain or increase investments in BDA solutions in 2021.
The revenue growth is driven by the rise in enterprises' need to organise, categorise and structure content in a meaningful manner.
IT spending in Australia to grow 3.6% in 2021, with utilities, government, education and healthcare sectors leading the way, says Gartner.
Over half of Australian and New Zealand CIOs have seen increased funding for digital innovation as a result of the COVID-19 pandemic.
Investment in cybersecurity remains a priority for SMBs and enterprises despite overall IT budget cuts, according to a report by Kaspersky.
COVID-19 is causing a decline in worldwide banking and securities IT spending in 2020, but a rebound is expected in 2021, says Gartner.
Global government IT spending is predicted to reach $438bn in 2020, down 0.6% from last year, according to Gartner.
Cloud infrastructure spending reached $34.6bn in Q2 2020, as cloud-based services played a crucial role during lockdown, according to Canalys.
Australia's ICT spending is set to drop 5.9% in 2020 due to COVID-19, reversing initial growth forecasts. Hardware purchases see a notable decline.
Almost all products/solutions categories are expected to witness reduced demand in 2020, as compared to the high growth projections before the outbreak.
Global IT spending is projected to decline by 7.3% in 2020 to reach $3.5 trillion, but will recover faster than the economy, says Gartner.
Cloud IT infrastructure sales increase 2.2% in Q1 2020, while non-cloud infrastructure investments plummet 16.3%, says IDC.
Business confidence on IT spending is continuing to decline despite moves to ease economic lockdown, according to new research from IDC.
Australia's IT spending is projected to decline by 6% in 2020 due to COVID-19, equating to a reduction of approximately AUD $8.8 billion, per Gartner.
