1H24 CIO 调查 ： 2024 年前景持续

EquityResearch 16April2024 Technology 1H24CIOSurvey:2024OutlookSustained The100responsestotheBarclays1H2024CIOsurveyweresubmittedduringSpring2024andindicatesustainedspendexpectationsin2024at3.1%,comparedtoanoverallITspendingoutlookin2023thattickedupfrom2.2%to2.4%. CIOexpectations2023and2024.Growthexpectationsfor2023endedupmovinghigherto2.4%(upfrom2.2%lastsurvey),thoughthe2024outlookhasremainedsteadyat3.1%.Lookingatregions,EMEAisdrivingthestrengthwithNorthAmericaalsostrong.Largeenterprises(ITbudgets>$1Bn)arepartiallydrivingtheuptickiny/yexpectedspendwithlargeenterprisesexpectinghigherITspendto2.7%in2024from2%in2023.Weseespendingaccelerationacrossmanyindustries,thoughuncertainmacrocouldadjustexpectations. Softwaretakeaways.Softwarespendingexpectationsappeartobetrendingrelativelypositive,particularlyontheApplicationandBI/analyticsside,whichreinforcesthenotionthatAnalyticsandCRMsaretwoofthetopthreespendingprioritiesforCIOsoverthenext12 months.Databasesadditionallyshowedstrengthforthethirdconsecutivequarter.Expectationsforcloudspendingonceagainlookedpositive,andtheimprovingtrendshereechothesentimentfromourcoveragethattheperiodofheavyoptimizationisbehindus,withmanycompaniesstartingtoreacceleratefromtheirlows.However,ITbudgetgrowthremainsrelativelymuted,andassuch,wecontinuetobelievecompanieswhocanbundleofferingsstandtobenefitoverthecomingquarters.Inourview,thisbodeswellforMicrosoftandSalesforce,withbothcompanieshavingabroadrangeofofferingsthattheycanselltocustomers,aswellasAIproductsthatareintegratedacrosstheproductsuiteandserveasvaluableARPUdrivers.Resultsforothervendorsremainmoremixed,thoughdatabasetrendsscreenpositivelyforvendorsincludingMongoDBandCouchbase. ITServicestakeaways.AsCIOslooktoincreasespendinFY24,webelieveinvestmentfocuswillre-calibratetowardsdigitaltransformationwork.Afteraspikeininterestforcost-cuttinginitiativesinFY23,respondentshaveseeminglybeguntoshiftfocusbacktodigitaltransformation,whichwebelievetobeaby-productoftheadoptionofearly-iterationGenerativeAIsolutions.Whileanuncertainmacrobackdropwilllikelyremainanoverhangintheshortterm,weareincreasinglyoptimisticthatclientswillre-acceleratespendasweprogressthroughtheyear.WebelieveAccentureisthebestpositionedinourcoveragetowinshareduetoitsdiversecapabilitiesandclientbase. ITHardwaretakeaways.Theoveralloutlookremainedstablefor2024,thoughupfrom2023.CommunicationsandStorageweretheonlyhardwareverticalstoseeanuptickinspend CORE ITHardwareandCommunicationsEquipment NEUTRAL U.S.Internet POSITIVE AmericasPayments,Processors&ITServices POSITIVE U.S.Business&ProfessionalServices NEUTRAL U.S.Software POSITIVE ITHardwareandCommunicationsEquipment TimLong +12125264043 tim.long@barclays.comBCI,US U.S.Software RaimoLenschow,CFA +12125262712 raimo.lenschow@barclays.comBCI,US SaketKalia,CFA +12125268465 saket.kalia@barclays.comBCI,US U.S.Internet RossSandler +14152634470 ross.sandler@barclays.comBCI,US AmericasPayments,Processors&ITServices RamseyEl-Assal +12125267144 ramsey.el-assal@barclays.comBCI,US BarclaysCapitalInc.and/oroneofitsaffiliatesdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision. Pleaseseeanalystcertificationsandimportantdisclosuresbeginningonpage41. Completed:15-Apr-24,20:44GMTReleased:16-Apr-24,04:10GMTRestricted-External expectationswithPCsandServerssliding,andPrintingremainingthesame.Thehighlevelofrepatriationofworkloadsbacktotheprivatecloudcontinued,withpubliccloudspendingexpectationsmovingdownslightly(down3points,thoughstillstrong).StorageandCommunicationswereagainmostfavorableoverall,whichalignswithourpositivestance onPureStorageandArista. Moregranulardetailherein.Thesurveyresponseshavebeenpresentedinoriginalformandhavenotbeenaltered.SurveyresultsshouldnotbeattributedtoBarclays.Inthisreport,though,theBarclaysTechnologyEquityResearchteamoffersinterpretationsofwhatthesesurveyresultscouldimplyfortheITspendingenvironmentandforspecificsegmentssuchasSoftware,Security,ITHardware/Networking,Internet,ITServices,andInformationServices. CONTENTS Barclays1H2024CIOSurvey4 SurveyMethodology4 CIOSurveyResults4 Security-relatedQuestions23 ITServices-relatedQuestions27 ITHardwareandCommunicationsEquipment30 U.S.Software31 U.S.Security33 U.S.Internet35 U.S.ITServices36 U.S.InformationServices38 Appendix:CIOSurveyDemographics39 Barclays1H2024CIOSurvey SurveyMethodology TheBarclays1H2024CIOsurveywasconductedinSpring2024.Wereachedoutto167potentialsurveyparticipantstoachieve100responses.Ofthe100surveyrespondents,71%hadparticipatedintheBarclays2H2023CIOsurveyconductedinSeptember(Technology:2H23CIOSurvey:2024OutlookUplift10/09/23);theoverallresponseratewas60%,downfrom63%inourpriorpoll. Datacollectionwasconductedthroughtelephoneinterviews.Onaverage,theinterviewsranforapproximately30minutes.Thesurveyrespondentsreceivedadvancecopiesofthequestionstofacilitatethe