Market Research Appraisal Finds IT Budgets Expected to Be Flat in 2016

The online IT and technology news magazine ZDNet examined multiple research projections to estimate 2016 industry spending and performance.

SAN FRANCISCO – Looking to gauge the IT industry’s prospects in 2016, ZDNet examined a number of forecasts and budgetary projections from various research firms and concluded that CIOs will be hard pressed to figure out how to keep the business running while pursuing innovative projects.

The special feature delves into several facets of IT budgeting, plus examines how CIOs can get a helping hand with fiscal planning and procurement from specialist software-as-a-service (SaaS) providers and consultants.

As an example in the retail sector, Gartner sees high priority given to spending on technologies that help understand customers better, improve engagement through multi-channel experience and facilitate the buying process. As for the banking and utilities sectors, Gartner expects IT budgets to double in support of digital and other new technology initiatives through 2019, despite a 2.4% projected decline in the 2014-‘15 period.

The IT professional network Spiceworks finds that IT budgets remain flat, with planned spending expected to uptick just 0.7% overall (7.9% in North America, -0.3% in EMEA). This is despite the fact that more than half (56%) of IT pros expect their company revenues to increase next year.

Click here to read the full report.

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