Omdia: 62% of IT executives plan to increase IT spending in 2023

Trend is driven by the accelerated pace of creating digital capability, a side effect of the pandemic  

LONDON, 13 March, 2023 – Despite global economic uncertainty, the outlook for enterprise IT vendors continues to look positive in 2023. According to Omdia’s annual IT Enterprise Insights research, nearly two-thirds (62%) of respondents are expecting an increase in IT spending this year. 
 
“The research is not surprising when one looks at the bigger picture. Generally speaking, there’s a marked shift from ICT being seen predominantly as an engine that keeps the business running into becoming a key source of both creating additional value and attracting/keeping talent. Therefore, businesses have shifted strategic focus and are allocating increased funding and resources to the ICT budget line – this in turn is welcome news for IT vendors and services organizations,” said Cem Nurkan, Research Director, Enterprise Technology, Omdia. “Our report provides suppliers with the data they need to understand their customers’ needs and ensure their go-to-market strategies align with their customers’ priorities.” 
 
Key takeaways from the IT Enterprise Insights report: 

• The top priorities for enterprises: Create Digital Capability; Manage Security, Identity and Privacy; Build the Modern Workplace; Modernize Legacy Systems; and Adopt Cloud Services 
• The key strategic business enabling areas: Increasing revenue/budget growth, increasing operating efficiency and Improving customer/citizen experience 
• Reducing ICT operating expenditure 
• The digital enabling technologies that are the most important: Technology Platforms; Business Platforms; 5G/Edge; Enterprise IoT; and Artificial Intelligence/Machine Learning

The annual IT Enterprise Insights report surveyed more than 6,400 senior IT executives across 56 countries, 16 major industries, and 80 technologies and asked about technology investments and priorities. 
 
The annual IT Enterprise Insights Intelligence Service is available via subscription here.