Why the IT Industry Will See Robust Spending Growth in 2015

 
 
By Don Reisinger  |  Posted 2015-02-02
 
 
 
 
 
 
 
 
 
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    Why the IT Industry Will See Robust Spending Growth in 2015
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    Why the IT Industry Will See Robust Spending Growth in 2015

    By Don Reisinger
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    The Worldwide IT Industry Will Grow Robustly in 2015
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    The Worldwide IT Industry Will Grow Robustly in 2015

    The IT industry is set for rapid growth in 2015, research from CompTIA shows. The company predicts that the IT industry’s revenue will grow 5 percent in 2015. In the U.S. only, revenue growth will be about the same at 5.1 percent. To put those figures into perspective, worldwide year-over-year revenue growth over the last few years was around 3 percent, so 2015 looks like it will be a good year for IT.
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    Software and IT Services to Outgrow Hardware
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    Software and IT Services to Outgrow Hardware

    While the entire IT industry is expected to grow in 2015, much of that success will be realized in software and services. CompTIA found that hardware revenue growth will reach 3.8 percent in 2015, compared with 4.9 percent for software revenue and 5.3 percent for IT services. Telecom revenue is slated to rise by 4 percent.
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    IT Industry Confidence Is at an Historic High
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    IT Industry Confidence Is at an Historic High

    Confidence in the IT industry and where it’s headed is at an all-time high. According to CompTIA, over two-thirds of IT professionals say they are confident in the future of IT, topping the 65 percent who echoed the sentiment last year. In 2009, confidence was at a low of 49 percent. Things are looking up.
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    Negative Market Trends Seen in Prior Years Are Easing
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    Negative Market Trends Seen in Prior Years Are Easing

    As anyone who has been working in the IT industry knows, there have been some “growth inhibitors” affecting the space over the last couple of years. However, according to CompTIA, some of those inhibitors have subsided. For instance, just 40 percent of people say that they are seeing price sensitivity in the marketplace, compared with 45 percent last year. The percentage of respondents sensing “paralysis” in the IT industry has shrunk from 32 percent in 2014 to 27 percent this year.
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    More Companies Report They Are Increasing IT Spending
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    More Companies Report They Are Increasing IT Spending

    In 2015, increases in IT spending across the enterprise are surprisingly widespread, with 47 percent of companies saying they will increase spending on technology this year. In 2014, that figure stood at 40 percent. Whether the company is small or large, CompTIA says the writing is on the wall: Higher investment in IT is a guarantee in 2015.
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    Total IT Employment Will Rise in 2015
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    Total IT Employment Will Rise in 2015

    The IT space is set for a rapid expansion of workers in 2015, according to CompTIA. The company says that the majority of respondents to its survey are looking to hire more people, and by year’s end well over 100,000 new employees will enter the IT workforce. Last year, 4.9 million people worked in core IT occupations. That number will likely exceed 5 million in 2015.
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    IT Hiring Priorities Have Changed Only Slightly
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    IT Hiring Priorities Have Changed Only Slightly

    What are companies looking for in IT professionals? According to CompTIA’s study, which analyzed job postings, there appears to be a strong need for technicians, network engineers, application developers, security experts and computer programmers. The number of job postings for Web developers and telecom engineers has slumped in the past year.
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    It’s Always Hard to Fill Technical Positions
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    It’s Always Hard to Fill Technical Positions

    For companies seeking qualified IT candidates for jobs, troubles abound. A whopping 68 percent of IT executives say they expect to face “a challenging or very challenging hiring environment for technical positions” in 2015. One in five companies say they can’t find qualified people and have resigned themselves to understaffing.
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    How Do IT Companies Cope With Understaffing?
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    How Do IT Companies Cope With Understaffing?

    What do companies do when they’re understaffed? The CompTIA study found that 43 percent of companies simply force their employees to work more, while another 31 percent say that they hire contract workers. About a third of respondent re-deploy staff from lower-priority IT projects, and 20 percent of companies are automating tasks.
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    Trends to Watch
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    Trends to Watch

    Looking ahead, CompTIA says that there are several IT trends for us all to watch. The company says we should all expect IT to attempt to simplify complexity in the office, improve security, acknowledge the Internet of things and enhance marketing to reduce the IT skills gap. One other important finding is that data handling will become a “core competency” in 2015, CompTIA says.
 

The IT industry has changed dramatically over the last decade. IT decision-makers have been faced with an ever-increasing number of tough decisions as they have to support a wider range of mobile and desktop devices, operating systems and cloud application services. It’s against that backdrop that CompTIA released the results of a study of nearly 650 IT companies that highlight the important trends shaping corporate IT in 2015. The wide-ranging study, which examines everything from IT spending expectations to workforce changes, provides important insights that could help IT executives make more informed decisions. So, in the following slides, eWEEK will examine the IT industry to see exactly what we should all expect in 2015. CompTIA’s findings indicate that while IT continues to play an increasingly important role in enabling enterprises to achieve business goals, there are factors, such as difficulty finding qualified people for technical positions, that put the brakes on how fast companies can grow and implement new technologies.  This slide show highlights some areas where IT companies intend to invest more money and areas where they are encountering some difficulties.

 
 
 
 
 
Don Reisinger is a freelance technology columnist. He started writing about technology for Ziff-Davis' Gearlog.com. Since then, he has written extremely popular columns for CNET.com, Computerworld, InformationWeek, and others. He has appeared numerous times on national television to share his expertise with viewers. You can follow his every move at http://twitter.com/donreisinger.
 
 
 
 
 
 

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