Barclays-Technology 1H24 O Survey 2024 Outlook Sustaed

Industry and Company Overview * Industry: Technology * Focus: IT spending trends, including hardware, software, services, and cloud computing. * Key Companies: Microsoft, Salesforce, Amazon Web Services (AWS), Google Cloud Platform (GCP), Cisco Systems, Palo Alto Networks, Dell/EMC, Pure Storage, HPE, IBM, Oracle, Snowflake, Elastic, MongoDB, Couchbase, Nutanix, F5, and many others. Key Points IT Spending Outlook * Overall IT Spending: Expected to grow by 3.1% in 2024, up from 2.4% in 2023. * Software Spending: Expected to grow by 3.1% in 2024, driven by Application and Analytics spending. * Hardware Spending: Expected to grow by 3.1% in 2024, with Communications and Storage seeing the most growth. * Cloud Spending: Expected to grow, with Public Cloud spending remaining strong. Software Trends * Top Spending Priorities: BI/Analytics, ERP, and CRM. * Emerging Trends: Databases, Observability, and RPA. * Vendor Performance: Positive for Microsoft, Salesforce, Snowflake, Elastic, and MongoDB; mixed for Snowflake, Elastic, and MongoDB; negative for HCM and legacy solutions. Hardware Trends * Top Spending Priorities: Communications and Storage. * Emerging Trends: Repatriation of workloads to private cloud/on-premise from public cloud. * Vendor Performance: Positive for Pure Storage and Arista Networks; mixed for HPE, CSCO, and DELL; negative for HPQ. Cloud Trends * Public Cloud: Expected to grow, with AWS and Azure leading the market. * Private Cloud: Expected to remain stable. * Hybrid Cloud: Gaining traction. * Vendor Performance: Positive for AWS, Azure, and GCP; mixed for Oracle, IBM, and Rackspace; negative for Dell/EMC and HPE. Security Trends * Top Spending Priorities: Endpoint Security, Cloud Security, and IAM. * Emerging Trends: SASE and Vulnerability Management. * Vendor Performance: Positive for CrowdStrike, Palo Alto Networks, Fortinet, Zscaler, and Varonis; mixed for Rapid7 and Tenable; negative for Check Point. IT Services Trends * Overall Outlook: More optimistic in 2024, with a shift back towards digital transformation. * Key Areas: Security Expertise, Digital Transformation, and ERP/Software Implementation. * Vendor Performance: Positive for Accenture, Cognizant, and EPAM; mixed for IBM and RXT; negative for CTSH. Additional Notes * The survey was conducted in Spring 2024 and included 100 CIO responses. * The survey results are based on the opinions of CIOs and may not reflect the views of all IT professionals. * The survey results are subject to change as the IT industry evolves.