Virtually any increase in 2004 will be an improvement over this year, in which IT spending is now expected to grow only 0.8% over 2002. The results of the survey were released at an SG Cowen conference in Boston this week. For the rest of this year, 30% of companies surveyed have recently revised IT spending plans downward, while 24% have increased their spending plans.
Security, disaster recovery, and application-integration projects top most companies' priority lists for 2004, the survey found. Forty-three percent of those surveyed say they need more storage capacity, while 36% need more network capacity. The backlog of new applications needed also appears to be growing at many companies.