European companies are forecast to spend $399 billion on IT in 2019. More than half of that spending (58.9%) will come from the IT budget, while the remainder (41.1%) will come from the budgets of technology buyers outside of the IT organization.
In a recent survey, 90% of C-suite executives said they paid attention to employee needs when introducing new business technology. Yet only about half of their workers agreed. This scenario typically translates into lost productivity.
“Once they’ve laid the business objectives and building blocks groundwork, enterprises can develop their digital transformation analytics roadmap. In order to achieve the desired business outcomes from the analytics process, they need to embrace a structured, five-step iterative approach.”
via Everest Group
According to the ‘Global Capital Confidence Barometer’, the use of technology, automation and AI for some routine processes is increasing as labor becomes scarcer and the battle for talent intensifies. This could enable companies to free up valuable resources to focus on broader strategic issues.
The top IT initiatives for 2019 were Cloud or Hybrid Computing (46%), Modernizing Infrastructure (38%), Data Governance (32%), Advanced or Predictive Analytics (25%). IT professions were split on top challenges, with 38% selecting the Skills and Staff Shortage.
Worldwide ICT spending on hardware, software, services and telecommunications will reach $4.6 trillion by 2022, representing average growth of 4 percent per year. Commercial customers will represent around 63.5 percent of total spending by 2022 ($2.9 trillion), while consumers will account for 36.5 percent ($1.7 trillion), according to IDC.