IT Budget stories - Page 11

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.

Australia and New Zealand are set to outpace global growth in IT spending according to Gartner, with notable increases in both countries forecasted for 2020.

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

Australian small businesses that increase their investment in technology grow their revenue and create jobs faster than other businesses.

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.

The deal accelerates transformation opportunity, invests in public sector skills, drives inclusion and leverages local investment.

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.

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.