target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: IDC Survey - Doc Document number: # US49819823
Worldwide Monthly Technology Investment Monitor: July 2023
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Abstract
This IDC Survey examines the worldwide monthly technology investment monitor for July 2023. IT leaders entered 2023 with a mission to restrain technology investments and to develop preprepared plans for executing spending cuts if conditions worsened. IDC heard from IT leaders in June that the continued "waiting for recession" is starting to affect economic and IT investment assumptions for 2024, not just 2023. Despite the uncertainty, their teams were running full tilt, filling open positions and "catching up" with the business. The emergence of generative AI in late 2022 wasn't seen as an important new investment area in early 2023, but by June, it emerged as a major new investment priority that will affect allocation of IT budgets for the rest of the year.
IDC connected with IT leaders around the world in June 2023 to gain insights into how they are navigating disruptions and prioritizing technology investments. We also delved into how widely companies are approaching cloud strategies (primary, multi, hybrid, and open) as well as their AI investment plans and expectations. In IDC's Future Enterprise Resiliency and Spending Survey, Wave 5, conducted in June 2023, IDC asked 1,014 IT decision makers in North America, Asia/Pacific, and Western Europe to indicate how concerns about inflation, recession skills shortages, generative AI, and other developments are affecting technology investments for the next year.