According to a survey by GlobalData*, 86% of US enterprises have increased their ICT budget in 2022, compared with 2021. The leading data and analytics company highlights that such investment was enabled by strong economic rebound in 2021, and will help these companies continue and develop the digitalization measures they used to overcome the COVID-19 crisis. The survey suggests that cybersecurity and disruptive technology are seeing the most investment, as well as technologies that support hybrid and remote working.
Digitalization spurs 39% of US companies to significantly increase ICT budget
According to GlobalData’s survey, which was published as part of its ‘US Enterprise ICT Investment Market Trends’ report, 39% of US businesses have increased their ICT budget significantly in 2022, seeing a more than 6% rise, while 47% have slightly increased their budget (between 1% and 6% rise).
Saurabh Daga, Technology Analyst at GlobalData, says: “The strong growth of the US economy, combined with support from government initiatives such as the ‘America COMPETES Act of 2022’, has paved the way for growth in ICT spend. US enterprises are spending increasing amounts on their technology as digitalization measures such as cloud migration and contactless systems to run operations and customer transactions, which saw increased investment during COVID-19 lockdowns, are continued and built upon.”
Every four in five US companies investing in disruptive technology
GlobalData’s survey reveals that more than 80% of US companies are investing in disruptive technology, indicating that this is an integral part of the US’s digital transformation strategy. The survey identifies disruptive technology such as artificial intelligence (AI) and edge computing as popular choices for US companies.
Daga continues: “The emergence of AI as a key digitalization tool can simply be observed by the large number of enterprises in the US using AI-powered chatbots to handle their customer interactions with respect to product queries and complains, similarly edge computing-based platforms are being increasingly used for tasks such as predictive maintenance and real-time remote monitoring.”
Cybersecurity a key concern for both US business and critical infrastructure
IT security is one of the top investment areas for 2022, with 70% of survey responders claiming that their companies have increased funding for security solutions within the hardware, software and services budget. Further, the safety of critical infrastructure and industries against potential state-sponsored cyberattacks and cyberterrorism is also a key factor in increased focus on cybersecurity.
Daga explains: “Cybersecurity has been a key concern for US enterprises, especially amid recent ransomware attacks on companies such as Cisco and Nvidia. The US government recently launched public-private action plans to boost the cybersecurity of several sectors, including gas, water, and electricity. The government has urged companies to use multi-factor authentication on their systems, deploy advanced security tools on their devices and computers, train employees on cybersecurity and encrypt their data in view of rising threats from state-sponsored actors.”
More than 70% of US companies investing in mobility services
The continuing popularity of flexible and remote working conditions in the US will see major investment in communication & collaboration tools, mobility, and security systems in the next two years. More than 70% of respondents from the US in GlobalData’s survey have claimed that their enterprises are considering investment in managed mobility services in the next two years.
Daga adds: “The enterprises looking to effectively monitor and manage devices and systems being used by employees working in a remote/flexible working often turn towards a third-party managed service provider owing to the fact that it offers them a cost-effective unified, and round the clock device and endpoint management without being entangled in the complexities of working with multiple device OEMs or mobility platform vendors.”
