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2020 IT Budgets Increase as Priorities Grow

By ZDNet

September 12, 2019

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A TechRepublic Premium survey found  information technology (IT) budget plans for fiscal 2020 continue to show year-over-year growth.

Twenty-six percent of respondents plan IT spending of $20 million or more in fiscal 2020, versus 9% of last year's survey respondents. In addition, 2% of 2020 respondents expect their organization's IT budgets to range from $250 million to $499.99 million.

Just 3% of survey respondents reported having an Internet-of-Things (IoT) application installed in 2017, compared to 9% of 2020 respondents who cited IoT deployment as a top IT budget priority.

Security also continues to be a focus for IT spending, with 53% and 63% of respondents respectively highlighting it in 2018 and 2019. For the 2020 survey, security was a key concern of 51% of respondents, while 45% of respondents identified the cloud as their top IT budget priority, 37%  said internal hardware and software procurement were most important, 31% said digitalization was a priority, and 29% said training current employees was their top priority.

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