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The Recovery of IT Spending in 2021
In a remarkable bounce back from the onset of the worldwide pandemic, three quarters of companies this year are poised to increase their IT operational budgets, a record in the cloud era. Organizations across nearly every sector and company size are planning IT budget increases in line with pre-COVID-19 economic conditions. Are happy days here again? Mostly, with some caveats.
How Does IT Spending Vary by Industry and Company Size?
Some IT benchmarking metrics are more influenced by the size of the company than by the industry sector. On the other hand, there are some IT spending ratios that are more dependent on the industry sector than the size of the company. This Research Byte aids in understanding the differences in IT budget metrics and how they correlate to industry sector and organization size. We review these factors for IT spending metrics, IT budget ratios, and IT staffing ratios.