target audience: TECH SUPPLIER Publication date: Jun 2023 - Document type: IDC Survey - Doc Document number: # US49819623
Worldwide Monthly Technology Investment Monitor: May 2023
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Abstract
This IDC Survey examines the worldwide monthly technology investment monitor for May 2023. After a year of disruptions from a rise in general inflation to the outbreak of war to energy shocks to increased anticipation of recession in major countries, it's no surprise that IT leaders entered 2023 with a mission to restrain technology investments and pre-prepared plans to execute spending cuts if conditions worsened. For the first few months of 2023, IDC noted that economic and IT sending outlooks began to improve as IT supply chains loosened, China reopened, energy shocks failed to develop, and the recession continued to be a worry for the future, not a reality of today. In March, the Silicon Valley Bank failure and a series of banking problems in the United States and Europe canceled out much of the growing economic optimism in both regions — but not in Asia/Pacific countries. A more troubling, new concern that IDC heard from IT leaders starting in May was that the continued "waiting for recession" is starting to affect economic and IT investment assumptions for 2024, not just 2023.
IDC connected with IT leaders around the world in early April 2023 to gain insights into how they are navigating disruptions and prioritizing technology investments in the areas of cloud cost management and use of cloud marketplaces. We also delved into how access to real-time data is affecting business operations plans. In IDC's Future Enterprise Resiliency and Spending Survey, Wave 2, conducted in early April 2023, IDC asked 88 IT decisionmakers in North America, Asia/Pacific, and Western Europe to indicate how concerns about inflation, recession skills shortages, and other developments are affecting 2023 technology investments. We also asked IT leaders to identify which providers would be their most technology strategic partners for navigating the next year.