About half (47 percent) 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 percent, which is comparable to last year's results.
A year ago, 52 percent of CIOs interviewed reported increased spending. While that number is slightly down this year, survey results also indicate a higher percentage of CIOs holding budgets flat compared to last year. 41 percent report budgets consistent with the previous year, which is up from 31 percent in the June 2013 survey. In what's good news for the tech sector, only 12 percent 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 percent planning IT budget increases in that category, up from 48 percent last year. Mobile, which was the highest area growth cited last year, drops to second place (see chart below):