* A look at some findings regarding IT spending by sector
Forrester’s initial glimpse at 2005 IT budgets shows a refreshing dose of optimism. A full 37% of enterprises expect to increase their IT investments next year, while only 15% expect to spend less.
The forecast is based on a survey of 1,377 IT and business decision-makers from North American and European firms with at least 1,000 employees. According to the results, the budget outlook is brightest for very large North American enterprises of at least 20,000 employees, as well as certain vertical industries.
In particular, more than half of finance and insurance firms surveyed anticipate spending more on IT in 2005 than during 2004. IT spending increases are more likely to occur in the public sector and in media, entertainment and leisure firms. But the chance of budget cuts is greatest in utilities and telecom.
Here are some of the findings regarding IT spending by sector, as shown by the percentage of enterprises anticipating higher, flat or lower spending as compared to 2004:
* Finance and insurance: 52% higher, 31% flat, 18% lower.
* Public sector: 39% higher, 50% flat, 11% lower.
* Media, entertainment and leisure: 38% higher, 49% flat, 13% lower.
* Business services: 37% higher, 49% flat, 14% lower.
* Retail and wholesale trade: 35% higher, 46% flat, 19% lower.
* Manufacturing: 33% higher, 53% flat, 14% lower.
* Utilities and telecom: 20% higher, 49% flat, 22% lower.
For more information on Forrester’s Business Technographics research, go to http://www.forrester.com. Network World’s Vertical Market Research Center at https://www.nwfusion.com/topics/vertical.html is another great resource on IT news specific to the education, healthcare, manufacturing and retail are investing in. And our Sector Spotlight series at https://www.nwfusion.com/news/2002/spotlightindex.html hones in on the technologies that are transforming a given vertical industry.
