According to IDC, 59 of CEOs believe a recession. While budgets are tightening and business leaders are finding way to reduce or streamline costs, there's one area that may actually see budgets increase. There is a lot of buzz around emerging technology being a tool to combat a recession. Spending on defence leapt 282% in January-February alone, data showed in May, the last time it was published. Why the C-Suite Plans To Increase Tech Budgets in 2023. Download our eBook and learn how to refocus your business priorities and improve your digital readiness. Build your 'Digital Dream Team' in the era of Digital Business. Reprioritize your technology initiatives. Russia stopped publishing up-to-date sector-specific budget expenditure data in recent months, cutting access to one of the few remaining tools for gaining detailed insight into the country's fiscal health. Optimize a growing budget in a shrinking economy. Unprotected spending excludes items that are deemed direct spending orders made by the president and government, which include social spending on veterans and families with children. Russia's draft budget for next year envisages total expenditure at 29.43 trillion roubles ($327 billion). Vedomosti reported that Finance Minister Anton Siluanov proposed cutting so-called 'unprotected' spending by 10% for 2024 at a June 29 meeting. While some longer-term cloud-based business transformation projects may be put on hold, Gartner sees businesses heading for the cloud in a big way over the next two years, with 2022 cloud spending reaching levels analysts hadn’t previously expected would be attained until 2023 or 2024.July 4 (Reuters) - Russia's finance ministry has proposed expenditure cuts to its 2024 budget, the Vedomosti daily reported on Tuesday, citing two sources close to the government, a step that would free up funds to spend on areas such as the military and national security.įaced with a January-May budget hole of $42 billion Russian officials have acknowledged the need to rein in the deficit, agreeing at an economic forum last month that some spending cuts would be inevitable, while viewing increased domestic borrowing or higher taxes as less appealing alternatives.Īs sanctions shrink energy revenues and spending soars to fund fighting in Ukraine, the budget deficit is already 17% above the plan for the whole of 2023. Shifting IT prioritiesįor IT organizations facing budget cuts, Gartner advises minimizing investments and prioritizing on operations that keep businesses running, at least through the rest of this year. This will give you an idea of how revenue and outgoings vary across months, quarters and years. IDC sees follow-on growth for infrastructure hardware as well, as it expects service providers to up their own spending to build out physical infrastructure to meet demand.Ĭloud-based telephony and messaging and cloud-based conferencing in particular will see big gains in 2020, with Gartner projecting 8.9 percent and 24.3 percent boosts in sales, respectively. New IDC Spending Guide Forecasts Double-Digit Growth for Investments in Edge Computing For more information, contact: NEEDHAM, Mass., Janu Worldwide spending on edge computing is expected to be 176 billion in 2022, an increase of 14.8 over 2021. including planning, budgeting, project and cost tracking, and ongoing maintenance plus. Look to the past to plan the future A good starting point if you want to create an IT budget is to look back at those from previous years so you have a baseline from which to work. Gartner spreads sales of public cloud services, which it expects to grow 19 percent this year, across several categories.īoth firms see growth for the cloud, with businesses expected to further adopt cloud services to offset reduced capital spending. The difference may be partly a question of definition: IDC’s infrastructure category includes servers, storage and networking hardware, as well as infrastructure as a service. Gartner, however, sees spending on data center systems plunging 9.7 percent this year, after a near-flat 0.7 percent growth in 2019. IDC sees this category as the lone bright spot, forecasting 3.8 percent growth in 2020, down from 8.8 percent last year. The prospects for infrastructure sales, however, are less clear.
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