“By 2021, based on lessons learned, over 80% of your competitors will put a mechanism in place to shift to cloud-centric digital infrastructure twice as fast as before the pandemic. By 2023, you will depend upon digital infrastructure as the underlying platform for all of your IT and business automation initiatives, everywhere.”
A quest for digital transformation will continue. “Among the businesses increasing IT spend in 2021, the following factors will influence budget growth next year: Increased priority on IT projects (45%), changes to business operations during COVID-19 (38%), and the need to support a remote workforce (36%).”
“The market for data center hardware is soft, and not just because of COVID-19. Like so many other trends, the pandemic didn’t yield anything new, but it did significantly accelerate almost every trend. Spending on teleconferencing exploded, while data center spending slowed considerably.”
As business leaders champion growth initiatives in COVID-19 recovery, CFOs can create more value by focusing the business — and resource allocation — on competitive differentiation. However, according to Gartner’s assessment, most CFOs don’t do that.
While less than half of global enterprises surveyed by GlobalData indicated plans to cut cloud and application development IT spending budgets, ops teams will seek more consolidation and automation to achieve a DevOps model.
Data and analytics technology will help to accelerate renewal, drive innovation and rebuild society over the next three to five years. Savvy digital business leaders will leverage their ongoing IT investment that enables recovery and reinvention.
“88 percent of CEOs at companies with more than $1 billion in annual revenues say they are more involved in major investment decisions than they were before — 63 percent of whom qualify their involvement as “far more” than in previous years.”
via Chief Executive
“CIO departments have been losing clout in technology purchase over the past decade. Line of business (LoB) leaders such as the head of marketing, the chief financial officer or the human capital leader takes on increasingly large amounts of investment on their own.”
Some technology sector M&A activity is relatively immune to market disruptions. The robotics industry received significant investment in 2019, reaching $46 billion. A total of $17.8 billion went to acquisitions and a further $29 billion went into investments, according to ABI Research.