Spiceworks recently published a report discussing the driving factors behind IT budgets this year. They surveyed over 700 business technology buyers across multiple continents, and uncovered that in general, budgets are expected to grow.
Tops Areas of IT Budget Investment IT
In fact, 89% of companies expect their budgets to increase or stay the same in 2019. One interesting trend around these upgrades is the difference between how small business and enterprises are allocating these funds. Small businesses are generally focused on increasing their hardware budgets, while large enterprises are making more significant investments in the cloud.
So how will 2018 budgets compare with 2019 budgets?
- 89% of companies expect their IT budgets to grow or stay the same over the next 12 months
- 56% of companies with 5,000+ employees expect their IT budgets to increase
- 43% of those large enterprises expect their IT budgets to remain stagnant
With enterprise investments into Big Data software expected to grow significantly, these budget increases are a great sign for this industry. But IT is a broad topic. Where are these investments actually going? And what are the business cases that are contributing to this movement?
Here are the top factors leading to IT budget increases in 2019:
- 64% – Need to upgrade outdated IT infrastructure
- 56% – Increased priority on IT projects
- 56% – Increased security concerns
- 43% – Employee growth
- 37% – Changes to regulations
- 30% – Business revenue increases
- 12% – Corporate tax cuts
- 11% – Recent security incident
- 9% – Currency fluctuations
It’s no surprise that security concerns are on this list twice. Given the number of data breaches that occurred last year, it’s never been more important to protect the data your customers willingly provide to you. As a company, it’s your responsibility to keep it protected.
Planning your 2019 IT Budget
As you move forward with your 2019 budget planning, IT, and Big Data investments, Attunity can help. We’ve saved companies like eTix, iN DEMAND, The American Cancer Society, and Generali move their data to a modern data platform saving them time, resources and budget.