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IT budgets expected to grow 5.5% over next 12 months

Published on .

Framingham, Mass.--International Data Group’s CIO Magazine July Tech Poll, which queries CIOs and information technology managers about their budget outlook, indicates that IT budgets will grow 5.5% in the next 12 months. That figure is down from June’s poll, which anticipated 5.9% growth.

The poll found that IT budgets grew by an average of 0.5% in the previous 12 months, a modest increase over the 0.2% growth reported in the June poll.

Security software continued to be the strongest sector in the poll, with nearly 56% of respondents expecting to increase spending in that area, while only 6% planned to decrease spending.

Nearly 35% of respondents cited "tight financial conditions" as the primary adverse factor affecting IT spending plans.

--Sean Callahan

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