Breaking Analysis 2024 IT spending outlook shows cautious start with optimistic finish
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12 minutes
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The content delves into the latest research findings on IT spending intentions, where over 1,700 IT decision makers shared their expectations regarding technology budgets in 2024. The data reveals a cautious start with an optimistic finish, with executives anticipating a 4.3% growth rate, which is higher than the previous expectation of 3.8%. This growth rate is up from around 3.5% in 2023. Furthermore, the analysis highlights that while some sectors like energy and regions such as APAC expect higher growth rates, many large companies and biggest spenders plan to grow below the mean. The report also notes that full-year 2023 spending did come in higher than anticipated, indicating a strong finish to the year. Notably, 40% of organizations report that generative AI funding is taking a toll on other budgets. The content suggests that for sustained growth and strong growth in IT spending, AI must deliver tangible returns on investment. Without an AI boost, macro spending may continue to be heavily dependent on various factors. learn more

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Predictive Modeling Specialist IT Manager Financial Analyst Enterprise Architect Digital Transformation Consultant Data Scientist Cloud Architect Chief Technology Officer (CTO) Chief Information Officer (CIO) Business Analyst

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