2015 IT Industry Forecast: Budget Increases Expected to Drop in 2015

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The number of IT leaders who expect budget increases in 2015 has decreased by 17 percent, according to a new report released by TEKsystems earlier this month.

The 2015 Annual IT Forecast revealed that only 45 percent of IT leaders expect their budgets to increase in 2015, down from 62 percent who expected budget increases in 2014. With this decrease, the percentage of leaders who expect increases in 2015 has returned to levels similar to the 2013 forecast, at 48 percent. The percentage of IT leaders that expect budgets to stay the same increased by 13 percent, from 26 percent in 2014 to 39 percent in 2015.

Despite fewer IT leaders expecting budget increases, 71 percent are confident in their ability to satisfy business demands in 2015, an increase of 5 percent over last year. In 2014 and 2013, confidence sat at 66 percent and 54 percent, respectively. Increased confidence is attributed to stronger IT and business relationships, increased clarity of expectations between business and IT, and “improved alignment between the projects and technologies that IT is in charge of and which projects and technologies they support”.

Overall, IT leaders’ top business priority for 2015 is to improve the existing IT applications and infrastructure implemented over the previous year. Last year’s top objective of implementing new applications and infrastructure fell to number 6 in 2015. This drop can also explain the decrease in number of IT leaders who anticipate a budget increase. Improving efficiency and increasing growth in revenue and/or profits rank number 2 and 3, respectively.

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