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IT budget forecast still strong

Published on .

Framingham, Mass.--The CIO Magazine Tech Poll panel for February projected that information technology budgets will grow 7.2% over the next 12 months.

That's down slightly from January, when the panel projected that IT spending would grow 8.2% in the next 12 months.

Security software continues to be the strongest sector in the poll with 54.7% of respondents planning to increase spending. In January 59.7% of respondents said they would increase spending on security software.

However, in a development that may favor Web advertising over print advertising, panelists said they expected to purchase an average of 23.9% of their materials, supplies and parts via the Internet over the next 12 months. That figure in an increase from an estimated 19.8% over the past 12 months.

--Sean Callahan

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