Tech spending news stories

ServiceNow has partnered with Dr Catriona Wallace to publish a report looking at the tech trends and cultural shifts expected to change working life in Australia over the next decade.

Gartner has projected a total Australian IT spend of AU$117.2 billion in 2022 in its latest forecast, increasing by 13.1% from 2021.

The largest area of investment in 2021 will be hardware, where companies are expected to purchase $228 billion in endpoint devices, enterprise hardware, infrastructure as a service (IaaS), and robotics and drones.

“Looking ahead, we’re seeing early market signals of growing automation and further adoption of machine learning technologies in support of AI security." 

This is a marked improvement from last year, where IT spending declined by 3.2% in the wake of the COVID-19 pandemic, which forced IT teams to prioritise mission-critical infrastructure over IT spending.

Global spending on cloud infrastructure services reached $34.6 billion in Q220

While spending on some technologies, like cloud and remote platforms, has seen an uptick, IDC says a ‘significant’ overall contraction will be felt in the next few months.

Recent forecasts may point towards declines in overall tech spending in 2020, but there also opportunities where business may be looking to increase short-term investments as part of their response to the COVID-19 crisis.

Australia and New Zealand are estimated to witness the highest compound annual growth rates (CAGR).

"Considering there have been many attempts for hackers to acquire funds from banks, the banking industry is expected to spend the most on security solutions."

“The banking and securities industry continues to spend in pursuit of digitalisation, whether through digital business optimisation or transformation."

Australian small businesses that increase their investment in technology grow their revenue and create jobs faster than other businesses.

2019 IT spending is expected to grow 2.2% in New Zealand, and 3% in Australia, far exceeding the 1.1% global average.

New IDC forecast expects the Internet of Things spending in Asia/Pacific excluding Japan to reach US$381.8 Billion by 2022.

The IDC spending guide has expanded the scope of its spending guide to over 100 cities and 30 use cases.

Growth in enterprise IT spending on cloud-based offerings will be faster than growth in traditional, non-cloud IT offerings. 

IDC forecasts worldwide spending to exceed $14 billion in 2019, an increase of 23.2% over 2018.

“Manufacturing and agriculture are taking the lead… with the view to continue implementing industry 4.0 technologies.”