Technology Spending Steadies With 2024 IT Budgets Flat Or Up
Search CIO, Monday, March 25th, 2024
Cybersecurity and cloud top the list of 2024's tech investment drivers, according to an Enterprise Strategy Group survey. But upstart GenAI also now influences spending.
Enterprise technology spending is stabilizing in 2024, with survey data showing that most business and technology leaders are forecasting flat or increased IT budgets and relatively few expect funding declines.
A report published in February by TechTarget's Enterprise Strategy Group depicts a market poised between the lingering economic uncertainty of the present and a future that could see an AI-fueled expansion. The "2024 Technology Spending Intentions Survey" found 49% of the 938 global IT and business decision-makers polled late last year expect to keep technology budgets even with 2023 levels, while 47% said spending would increase.