A recent study of over 650 CIOs in global enterprises across Europe, the US, and APAC reveals that technology budgets have been increased by 51% of global CIOs to drive growth and overcome challenges. However, legacy connectivity and management systems are hindering the global business ambitions of 35% of CIOs. The study also suggests that organizations are missing growth opportunities by neglecting regions with fast-growing economies due to perceived complexity and market entry challenges.
CIOs express optimism (34%) and ambition (30%) regarding their organizations’ growth prospects in the next 12 months. Increased tech investments are expected in security, automation and analytics, 5G, public/hybrid cloud, Edge computing, IoT, SD-WAN, and SASE. These investments are aimed at driving global growth through increased innovation, automation, and expansion into new markets.
Establishing and managing connectivity in new markets is identified as the critical factor for successful global expansion by 46% of CIOs. Challenges in this area include legacy connectivity, security environments, skills and resource retention, physical and geopolitical infrastructure, regulation and compliance, and legacy systems and local knowledge.
When identifying regions with growth opportunities, North America and Europe dominate the top five, followed by South America. However, South America is seen as the most technologically challenging region, even more so than China. Surprisingly, the fastest-growing economies of the Greater China Area and Central & South Asia are not prioritized for growth, possibly due to perceived complexities.
Realizing growth opportunities through global expansion is crucial in challenging times. Simplifying and automating logistical and connectivity challenges is vital for CIOs to focus on strategic growth. Expereo, a provider of managed network solutions, aims to simplify and automate these challenges for its customers.
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