Skip to main content

Strategic IT Foresight in the Global Networked Economy

Leaders of large corporations appreciate the significance of thoughtful investment in the future of their business. Most CEOs agree, the competitive advantages of tomorrow hinge on the strategic application of open source software-defined technologies -- such as enterprise mobility, cloud computing and big data.

International Data Corporation (IDC) estimates that, including internal IT spending, the world's largest companies spent $895 billion on business technology during 2014.

All the leading IT vendors should now have a better understanding of the key business imperatives that are driving investments in these large global companies -- clearly, they set the pace of new technology adoption across their industries.

Moreover, the activities of the largest IT spenders provide a glimpse into how these industry leaders are taking steps to use targeted investment to transform their businesses for 2015 and beyond.

As we enter the Innovation Stage of Digital Business Transformation projects, IDC expects to see the leading companies focusing more on business value creation -- not merely building the IT and telecom infrastructure foundation for their global operations.

Key findings of the global market study include:
  • Wal-Mart was the largest IT spender worldwide in 2014. Bank of America placed second, followed by Citigroup, AT&T, and JPMorgan Chase.
  • Nine out of ten spenders increased their IT spending from 2013 to 2014.
  • On average, these companies allocate about one-third of their technology spending to internal IT and telecommunications staff salaries and benefits.

This significant investment in technical staff is important, because tapping the skills and ideas of superior talent is a key component of strategic IT leadership in the Global Networked Economy.

Among the top ten spenders, IDC notes a combination of customer-facing initiatives, enterprise focused projects and forward-looking technology adoption and advancement. While varied, these companies have one characteristic in common: the expectation for high levels of service to internal and external IT customers.

"When it comes to IT innovation, the world's largest companies are often criticized as being risk averse, sluggish and siloed," said Jessica Goepfert, program director at IDC. "However there is no denying that the IT budgets of larger companies are, well, larger."

The data and analysis driving this market study is from the IDC "Worldwide IT Wallet" quantitative research program that analyzes the budget and spending priorities of the world's largest multinational companies.

The research covers more than 2,600 business entities. The IT budget and spending for each company are estimated with spending segmented into five technology categories -- hardware, software, IT services, telecom services, and internal IT spend.

Popular posts from this blog

Wireless Solutions Advance Work from Home Trends

Despite a challenging backdrop from the ongoing effects of the global COVID-19 pandemic, the negative impact on fifth-generation (5G) wireless supply chains has been minimal compared to the wider mobile smartphone market. This led to 5G mobile devices becoming more diverse, brought to market quickly at a variety of price points, thereby accelerating affordability and adoption. The mobile market is transitioning to 5G and many leading vendors are now exploring the low-priced 5G smartphone segment. According to the latest worldwide market study by ABI Research, 681 million 5G handsets will be shipped in 2022. Therefore, the race is on for OEMs to find that all-important level of differentiation in their flagship portfolios to help boost margins and improve market share. 5G Wireless Market Development Vendors continue to drive the adoption of new product designs, screen technology, chipsets, and camera setups -- notably within the flagship smartphone segment. Meanwhile, the leaders seek a

Software-Defined Infrastructure: The Platform of Choice

As more organizations adapt to a hybrid working model for their distributed workforce, enterprise CIOs and CTOs are tasked with delivering new productivity-enabling applications, while also seeking ways to effectively reduce IT cost, complexity, and risk. Traditional IT hardware infrastructure is evolving to more software-based solutions. The worldwide software-defined infrastructure (SDI) combined software market reached $12.17 billion during 2020 -- that's an increase of 5 percent over 2019, according to the latest market study by International Data Corporation (IDC). The market grew faster than other core IT technologies. The three technology pillars within the SDI market are: software-defined compute (53 percent of market value), software-defined storage controller (36 percent), and software-defined networking (11 percent). "Software-defined infrastructure solutions have long been popular for companies looking to eliminate cost, complexity, and risk within their data cente

Digital Identity Verification Market to Reach $16.7B

As more enterprise organizations embrace the ongoing transition to digital business transformation, CIOs and CTOs are adopting new technologies that enable the secure identification of individuals within their key stakeholder communities. A "digital identity" is a unique representation of a person. It enables individuals to prove their physical identity during transactions. Moreover, a digital identity is a set of validated digital attributes and credentials for online interactions -- similar to a person's identity within the physical world. Individuals can use a 'digital ID' to be verified through an authorized digital channel. Usually issued or regulated by a national ID scheme, a digital identity serves to identify a unique person online or offline. Digital Identity Systems Market Development Complementary to more traditional forms of identification, digital identity verification systems can enhance the authenticity, security, confidentiality, and efficiency of