Tech Leaders Eye Bigger IT Budgets In 2025
TechStrong ITSM, Friday, August 23rd, 2024
More than 90% of tech leaders said they expect IT budgets to keep growing into next year, despite uncertainty in the market, according to a Forrester survey of 2,200 business and technology decision-makers.
The study indicated executives expect larger budgets for software and technical staff due to increased demand for AI and modernization, but the report noted that much of the projected 2024 tech spending growth will only offset inflation.
'As we edge closer to 2025, technology leaders find themselves at a crossroads, navigating through a mix of economic, technological and geopolitical uncertainties,' Matthew Guarini, vice president, research director for Forrester, noted in a blog post.
Michael Curry, president of data modernization at Rocket Software, said CIOs should focus on prioritizing investments that offer both immediate and long-term benefits.