The numbers ring loud and clear: technology spending is quickly overtaking spending in traditional industries like banking, oil, and healthcare.
SAN LUIS OBISPO, Calif. (PRWEB) May 28, 2015
Experts Exchange, the world’s leading network for technology professionals, has released its latest study examining spending in the Information Technology industry.
It is no secret that the technology industry has been growing rapidly over the past decade, but this exclusive research reveals that IT spending is much larger than most people expect.
“Our research shows that global IT spending last year topped the $3.83 trillion mark,” says Experts Exchange CIO Gene Richardson. “To put this into perspective, that’s slightly larger than the entire GDP of Germany. And considering how quickly technology is evolving, we expect IT budgets will continue to rise at this elevated rate at least for the near future.”
To visualize these high spending rates, Experts Exchange created a dynamic breakdown showing how IT budgets compare to the budgets of various global industries. Using the filters provided, data can be filtered for one month, one day, or current activity.
“Through our methodology, we’re able to see how IT spending compares to that of other top global industries in real-time,” continues Richardson. “And looking at the data, the numbers ring loud and clear: technology spending is quickly overtaking spending in traditional industries like banking, oil, and healthcare. This is due to the fact that IT functions as a backbone for companies in every industry. You cannot run a company today without a functioning IT department.”
And while strong IT departments bolstered with ever-increasing budgets should, in theory, keep their companies secure, major high-profile cyberattacks have dominated headlines in the past year. Companies like Sony, Target, Home Depot, and Blue Shield all suffered major losses from these attacks. Security plays a large part in the increase of technology spending, as visualized in an additional Experts Exchange study.
“The costs of security threats contribute significantly to the growth of technology budgets,” concluded Richardson. “And as the cost of successful intrusions continue to increase, so do the budgets necessary to protect against them. At Experts Exchange, we see security as one of our most discussed topics, and an area where we help companies work together to keep those budgets down.”
For the full interactive report on IT spending and additional data on the true financial costs of cyberattacks, visit http://pages.experts-exchange.com/it-spending
Experts Exchange is the network for technology professionals. With unparalleled access to technical experts, verified real-world solutions, and diverse educational content, we enable technology professionals to solve difficult problems, make better decisions, and build expertise on their own terms. For more information visit Experts-Exchange.com.