IT Budget stories
Despite global uncertainty and trade wars, IDC forecasts ICT spending to hit USD $4.8 trillion by 2023, led by the commercial sector with a 5.1% CAGR.
Australia will see a 3.1% increase in IT spending, while NZ should expect 2.3%. This is compared to global growth of just 0.6%.
2019 IT spending is expected to grow 2.2% in New Zealand, and 3% in Australia, far exceeding the 1.1% global average.
Cisco, Palo Alto Networks and Fortinet, all with a strong focus on network security products, outperformed the market, recording strong double-digit growth.
Despite soaring to USD $37 billion in 2018, cybersecurity spend only constitutes 2% of total IT investments, Canalys reports.
A recent study by Zinnov shows that IoT spend reached US$201 billion in 2018 while outsourcing service providers generated $40 billion in revenue.
Global security spending is set to hit USD $103.1 billion in 2019, up 9.4% from 2017, driven by industries like banking and government, says IDC.
New IDC forecast expects the Internet of Things spending in Asia/Pacific excluding Japan to reach US$381.8 Billion by 2022.
Service providers account for a growing share of ICT spending, led by a surge of cloud infrastructure spending, according to IDC.
The trade war, among other factors, is set to negatively impact global ICT spending but the market will still experience positive growth.
Security professionals feel like they are perceived as 'policemen', and 13% say they experience negativity from colleagues all the time.
Global spending on smart cities will soar to USD $95.8 billion in 2019, with major investments from Singapore, New York City, Tokyo, and London.
IDC has shared its forecast for digital transformation spending in Europe, which looks to be a very profitable industry.
EMEA's IT spending stymied by Brexit uncertainty, with data centre and device investments flatlining as security and cloud services gain traction.
The role of the CIO will remain crucial in the era of digital business, according to Gartner's annual survey of CIOs.
Gartner's data reveals total global IT spending will continue to grow in 2019, with some sectors doing better than others.
With digital transformation rife, IT departments around the globe are being forced to do more with the same resources.
Growth in enterprise IT spending on cloud-based offerings will be faster than growth in traditional, non-cloud IT offerings.
The deal accelerates transformation opportunity, invests in public sector skills, drives inclusion and leverages local investment.
A GCSB report reveals that over 80% of major NZ firms lack a CISO, with significant gaps in human investment affecting overall cyber resilience.
