Tech investments are expected to increase this year as organizations realize the need for tech advancements to ensure industry relevance and are diving into emerging technologies or fast-tracking digital transformation projects. “CEOs know they must accelerate the adoption of digital business and are seeking more direct digital routes to connect with their customers,” says David Groombridge, VP Analyst, Gartner. Tech budgets are expected to increase in 2022, some to the heftier pre-pandemic levels of 2019 or beyond.
Studies show “born tech” companies have contributed 52% of total market value growth since 2015, while an additional 20% of market value growth has come from companies with a tech-led strategy. In addition, according to the International Data Corporation (IDC), the technology industry is on pace to exceed $5.30 trillion in 2022.
