While the COVID-19 pandemic has trimmed overall tech spending, there may be some bright spots on the horizon.
As some areas of technology are being cut, others look like they’ll continue to be funded, based on a new global survey by the International Data Corporation (IDC).
Cuts in spending are expected for traditional technologies, such as PCs and mobile devices, but new technologies including artificial intelligence and the Internet of Things are projected to continue to be funded.
The IDC COVID-19 Tech Index, based on survey of business tech buyers globally, shows “buyer intent” spending still to be on the increase, though lower than the previous two weeks.
"There are individual examples of organizations increasing their spend on technologies such as laptops in order to support employees working from home, but the overall survey results support our view that total spending on those products will decline as many companies revert to contingency plans and cuts in capital spending," stated Stephen Minton, vice president in IDC's customer insights and analysis group. "Cloud seems to be resilient with some firms continuing to increase their spending even while others focus on ways to cut costs in the short term."
Various studies show at least a short-term dip in some technologies while others show an increase.
For example, in-home tech usage was found to be strong in a survey of 5,000 consumers in early March conducted by Hub Entertainment Research.
That study found smart speaker ownership increased, reaching 42% of all households, up from 37%, and smart home devices increased from 33% to 39% of all homes.
The technology rolls on.