Spiceworks recently released their 2020 Spiceworks State of IT Report. They surveyed more than 1,000 technology buyers in companies across North America and Europe. The study focused on how organizations will be spending their technology budgets for next year.
According to their report, replacing outdated infrastructure will be the biggest IT spend next year. Most businesses are anticipating top-line revenue growth. As revenue grows, typically IT budgets increase as well.
What will be the key areas of focus in organizations’ 2020 IT Budget Forecast?
88% of businesses expect IT budgets to either grow or stay steady over the next 12 months. Compared to 2019, we’re seeing more upward acceleration.
44% of businesses plan to grow IT budgets in 2020. This is an increase from 38% in 2019. Organizations that expect IT budget growth next year anticipate an 18% increase on average. Only 8% of companies expect IT budgets to decline in 2020.
These categories represent more than half of the total IT Spend in businesses today.
Businesses are looking for technology vendors and service providers to be an additional tool in their arsenal. They need additional help to navigate through all the pain points out there.
These challenges include:
Small businesses need more guidance than large enterprises when it comes to security best practices and maintaining disaster recovery policies. Whereas, enterprises will need more help with implementing new tech into their environment.
As for new tech adoptions, there are a few categories that are expected to be adopted by 2021. Enterprises with 5000+ employees will be the ones adopting these tech solutions first.
To summarize, the results show a healthy global economy. Aging technology in the workplace and more sophisticated security threats has IT spending up year-over-year.
We at Zunesis, are prepared to assist you with your 2020 technology initiatives. From assessments to support and more, schedule a meeting with Zunesis to discuss how we can help you reach your technology goals.