Security, Cloud Computing Remain CIO Budget Priorities: Report

IT budget growth is being revised downward by CIOs, but at the same time cloud computing has increased as a driver of IT spending, according to a CIO Survey released this week by Nomura. CIOs expect IT spending to increase 1.2 percent in 2016, after predicting a 3.1 percent increase in the fall.

Nomura surveyed 50 CIOs in the US in March, mostly at small and medium-sized business, about their expected IT spending, following a similar survey in October. It found that while security remains the top driver of IT spending, 62 percent said cloud computing is driving IT spending, up 10 percent from October, surpassing big data analytics (60 percent) for second most common driver.

Data sprawl was named a spending driver by 18 percent of those surveyed, an increase of 12 percent, making it the one factor increasing IT spending more than cloud computing.;