CIOs cite applications and mobile as top areas for IT budget increases

Nearly 90 percent of IT executives expect tech spending to either increase or hold steady. And only 12 percent report budget decreases.

By Dan Muse, CIO |  Enterprise Software, insider, IT spending

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.

Growth Areas

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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Originally published on CIO |  Click here to read the original story.
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