The storm clouds are parting, according to global market intelligence and advisory company IDC. Its latest report indicates that relatively few organisations are planning to cut IT spending over the coming year and business confidence is comparatively high.
Entitled The Market Sentiment Monitor, the tri-annual report is a study of business confidence and IT spending in Australia.
Of the 250 senior business and IT leaders of mid to large-sized organisations interviewed by IDC, 70 per cent of respondents expect their business prospects to improve over the coming months, despite poor economic conditions.
The study found that almost 80 per cent of Australian-based companies planned to either increase their IT budgets or maintain their current level of spending. Yet the research indicated that IT spending patterns would change, primarily focusing on optimising existing IT investments.
According to IDC, areas such as security, storage and high-availability services will experience significant growth in the coming year.