IT Budget stories - Page 8

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.

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.

US IT buyer confidence plunges amid COVID-19, but the Asia Pacific region shows faint signs of recovery, according to IDC's latest update.

IT spending to decline 5.1% to $2.25tn this year due to COVID-19 impact, but IT infrastructure spending to grow 4%, says IDC.

CIOs must take action to protect their IT organizations' cash flow during the COVID-19 crisis, according to Gartner. Survival will be the priority.

Global IT spending is set to drop 2.7% in 2020 due to COVID-19, with industries reliant on physical presence facing the steepest declines, reports IDC.

Despite declines in tech spending due to COVID-19, IDC notes potential for increased short-term investments in cloud, AI, and IoT as firms adapt.

IT spending across the globe will decline 2.7% this year as COVID-19 continues to take its hold on the world's economy, says IDC.

The COVID-19 pandemic has hit the IT economy hard and IDC says that pessimistic scenarios are now playing out – and may get worse.

Depending on how the economic factors around COVID-19 play out, a pessimistic scenario would see spending growth nowhere near the 4.3% expected.

IT spending to increase in 2020, but PC sales and Coronavirus disruption will impact overall growth, says IDC Black Books.

ANZ's spending on security services is set to surge, with the Asia-Pacific MSS market projected to hit USD $20.2 billion by year-end, says GlobalData.

Global spending on security products and services is predicted to hit $151.2bn by 2023, growing by 57% since 2018, according to a report by PreciseSecurity.com.

Australian banking and securities IT spending is set to grow 5.2% in 2020, driven by investments in BI, analytics, and RPA, says Gartner.