1H24 CIO 调查 ： 2024 年前景持续

1H24 CIO Survey: 2024 OutlookSustained CORE The 100 responses to the Barclays 1H 2024 CIO survey weresubmitted during Spring 2024 and indicate sustained spendexpectations in 2024 at 3.1%, compared to an overall ITspending outlook in 2023 that ticked up from 2.2% to 2.4%. IT Hardware and CommunicationsEquipmentNEUTRAL U.S. InternetPOSITIVE Americas Payments, Processors & ITServicesPOSITIVE CIO expectations 2023 and 2024.Growth expectations for 2023 ended up moving higher to2.4% (up from 2.2% last survey), though the 2024 outlook has remained steady at 3.1%. Lookingat regions, EMEA is driving the strength with North America also strong. Large enterprises (ITbudgets >$1Bn) are partially driving the uptick in y/y expected spend with large enterprisesexpecting higher IT spend to 2.7% in 2024 from 2% in 2023. We see spending acceleration acrossmany industries, though uncertain macro could adjust expectations. IT Hardware and CommunicationsEquipmentTim Long+1 212 526 4043tim.long@barclays.comBCI, US Softwaretakeaways.Softwarespending expectations appear to be trending relatively positive,particularly on the Application and BI/analytics side, which reinforces the notion that Analyticsand CRMs are two of the top three spending priorities for CIOs over the next 12months. Databases additionally showed strength for the third consecutive quarter. Expectationsfor cloud spending once again looked positive, and the improving trends here echo thesentiment from our coverage that the period of heavy optimization is behind us, with manycompanies starting to reaccelerate from their lows. However, IT budget growth remainsrelatively muted, and as such, we continue to believe companies who can bundleofferingsstand to benefit over the coming quarters. In our view, this bodes well forMicrosoftandSalesforce, with both companies having a broad range ofofferingsthat they can sell tocustomers, as well as AI products that are integrated across the product suite and serve asvaluable ARPU drivers. Results for other vendors remain more mixed, though database trendsscreen positively for vendors includingMongoDBandCouchbase. U.S.SoftwareRaimo Lenschow, CFA+1 212 526 2712raimo.lenschow@barclays.comBCI, US Saket Kalia, CFA+1 212 526 8465saket.kalia@barclays.comBCI, US IT Services takeaways.As CIOs look to increase spend in FY24, we believe investment focus willre-calibrate towards digital transformation work.Aftera spike in interest for cost-cuttinginitiatives in FY23, respondents have seemingly begun toshiftfocus back to digitaltransformation, which we believe to be a by-product of the adoption of early-iterationGenerative AI solutions. While an uncertain macro backdrop will likely remain an overhang inthe short term, we are increasingly optimistic that clients will re-accelerate spend as weprogress through the year. We believeAccentureis the best positioned in our coverage to winshare due to its diverse capabilities and client base. U.S. InternetRoss Sandler+1 415 263 4470ross.sandler@barclays.comBCI, US Americas Payments, Processors & ITServicesRamsey El-Assal+1 212 526 7144ramsey.el-assal@barclays.comBCI, US IT Hardware takeaways.The overall outlook remained stable for 2024, though up from 2023.Communications and Storage were the only hardware verticals to see an uptick in spend Barclays Capital Inc. and/or one of itsaffiliatesdoes and seeks to do business with companiescovered in its research reports. As a result, investors should be aware that the firm may have aconflict of interest that couldaffectthe objectivity of this report. Investors should consider thisreport as only a single factor in making their investment decision. Please see analyst certifications and important disclosures beginning on page 41.Completed: 15-Apr-24, 20:44 GMTReleased: 16-Apr-24, 04:10 GMTRestricted - External expectations with PCs and Servers sliding, and Printing remaining the same. The high level ofrepatriation of workloads back to the private cloud continued, with public cloud spendingexpectations moving down slightly (down 3 points, though still strong). Storage andCommunications were again most favorable overall, which aligns with our positive stanceonPure StorageandArista. More granular detail herein.The survey responses have been presented in original form andhave not been altered. Survey results should not be attributed to Barclays. In this report,though, the Barclays Technology Equity Research teamoffersinterpretations of what thesesurvey results could imply for the IT spending environment and for specific segments such asSoftware,Security, IT Hardware/Networking, Internet, IT Services, and Information Services. Barclays 1H 2024 CIO Survey. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Survey Methodology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4CIO Survey Results. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .