Businesses will be allocating more funds to their IT sector next year, with most of their budgets going to cyber security measures. This is according to a new report, released by Tech Pro Research (opens in new tab).
According to their poll, more than half of organisations will be dedicating more funding to IT. According to almost two thirds of respondents (63 per cent) cyber security is their biggest concern, followed by cloud services (48 per cent) and internal employee training – 44 per cent.
New technologies that can transform the organisation and improve business results are exciting workers and managers alike. That is one of the main motivations behind spending more on IT, it was said.
However, businesses expect faster and higher ROI for their purchases, it was added.
Going global, IT spending this year is expected to hit $3.7 trillion. Gartner says that most of these funds will go to buying new devices, like computers, tablets and mobile phones.
"The device market continues to see dual dynamics. Some users are holding back from buying, and those that are buying are doing so, on average, at higher price points," said Gartner analyst John-David Lovelock.
"As a result, end-user spending will increase faster than units through 2022. However, total end-user spending and unit shipments are expected to be lower compared with previous forecasts, as demand for ultramobile premium devices, ultramobile utility devices and basic phones is expected to be slow."
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