IT Spending gets 5.5 per cent bump

Server, storage and software investments will drive an overall jump in IT spending of about 5.5 percent in Canada this year, according to a recently released projection from London, Ont.-based Info-Tech Research. This will lead to an overall boost in IT spending from $82.97 billion to $86.56 billion, with longer-term growth of more than $100 billion expected by the end of the decade.

Michael O’Neil, the firm’s managing director, said financial and other industry-specific applications were fuelling the surge in software spending, rather than horizontal segments such as customer relationship management or enterprise resource planning. Many enterprises that initially deployed software to automate tasks or bring together diverse pockets of information are also preparing to see the “next generation of payback,” O’Neil added, as turnover in management brings in more technology-savvy users.

The forecast is tempered by what it calls the “sophistication/adoption gap,” or SAG, in the SMB sector. These firms won’t necessarily embrace the same level of IT adoption as their larger peers, O’Neil said.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

Shane Schick
Shane Schickhttp://shaneschick.com
Your guide to the ongoing story of how technology is changing the world

Featured Articles

Empowering the hybrid workforce: how technology can build a better employee experience

Across the country, employees from organizations of all sizes expect flexibility...

What’s behind the best customer experience: How to make it real for your business

The best customer experience – the kind that builds businesses and...

Overcoming the obstacles to optimized operations

Network-driven optimization is a top priority for many Canadian business leaders...

Thriving amid Canada’s tech talent shortage

With today’s tight labour market, rising customer demands, fast-evolving cyber threats...

Staying protected and compliant in an evolving IT landscape

Canadian businesses have changed remarkably and quickly over the last few...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now