IT Budget stories - Page 9

As economies recover from COVID-19, BDA spending has increased over 10% from 2020 and will continue to grow in next five years, according to IDC.

Global IT spending is expected to reach $4.2 trillion this year, an increase of 8.6% from 2020, according to Gartner.

Organizations in 2021 are projected to spend $656bn on future of work technologies, a 17.4% increase over 2020, according to IDC.

Businesseses needed to think on their feet if they were to survive. For many, it meant cutting costs any way they could.

Global spending on information security and risk management technology will reach $150.4 billion this year, according to research from Gartner.

Software spending in Australia and New Zealand reached $13 billion in 2020, a 7% rise, according to IDC's latest report.

Globally, 73% of CFOs noted that their digital transformation (DX) investments had increased since the pandemic (72% in ANZ).

Asia Pacific's ICT spending is projected to grow by 4.9% to reach $924bn this year, and is expected to exceed $1tn by 2024, according to IDC.

Cybersecurity budgets stagnant as cyber-attacks rise, new research says. Executives underestimate risk, hindered by skill shortages.

Australian organisations to spend over A$4.9bn on enterprise information security in 2021, an 8% increase from last year, says Gartner.

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.