Top IT spending priorities for 2020

From data analytics to cybersecurity to customer experience, here’s where CIOs will direct their IT budgets this year.

Top IT spending priorities for 2018
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The CIO role has become a transformational one. Forty-six percent of IT leaders say their work is primarily focused on transforming the business, according to our 2020 State of the CIO survey.

But the new decade also sees CIOs taking on strategic responsibilities in a wide range of endeavors, requiring them to strike a difficult balance between business innovation and operational excellence. In fact, 58 percent of IT leaders surveyed for the 2020 State of the CIO see their CIO role becoming a business strategist position in the next three to five years.

How they expect to advance the business and keep IT assets humming can be gleaned in part by where they spend their budget, and this year, IT budgets are increasing, says John McKnight, executive vice president of research and analyst services at Enterprise Strategy Group.

“CIOs tell us that 56 percent of enterprises expect to increase IT spending in 2020,” McKnight says. “[Around] 40 percent will keep their budgets flat and [around] 5 percent plan to cut spending. Overall, we see enterprises expecting modest YoY budget growth from 2019 to 2020 with an estimated mean annual spending change of plus 3.2 percent.”

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