July 25, 2014, 3:56 PM — About half (47%) of CIOs surveyed in the most recent CIO Tech Poll: IT Economic Outlook say they expect their IT budgets to grow. Overall, they expect spending to increase by about 5%, which is comparable to last year's results.
A year ago, 52% of CIOs interviewed reported increased spending. While that number is slightly down this, survey results also indicate a higher percentage of CIOs holding budgets flat compared to last year. 41% report budgets consistent with the previous year, which is up from 31% in the June 2013 survey. In what's good news for the tech sector, only 12% of the IT executives surveyed anticipate a budget decrease -- the lowest level reported since the poll's inception in March 2008.
CIOs list applications as the area for highest growth with 54% planning IT budget increases in that category, up from 48% last year. Mobile, which was the highest area growth cited last year, drops to second place (see chart below):
Image credit: CIO.com
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