Insurance Enterprise ICT Investment Market Trends by Budget Allocations (Cloud and Digital Transformation), Future Outlook, Key Business Areas and Challenges, 2022

Insurance Enterprise ICT Investment Market Trends by Budget Allocations (Cloud and Digital Transformation), Future Outlook, Key Business Areas and Challenges, 2022

Summary

Insurance Enterprise ICT Investment Market Trends by Budget Allocations (Cloud and Digital Transformation), Future Outlook, Key Business Areas and Challenges, 2022, summarizes key findings from the GlobalData’s ICT customer insight survey carried out in H1-2022. It reveals how the overall ICT budgets and their allocations towards various business functions and spending areas, have changed for enterprises in the insurance sector in 2022 when compared to 2021. The report also discusses the change in ICT budget allocations for digital transformation enabling technologies like artificial intelligence (AI), internet of things (IoT), automation and edge computing among enterprises in 2022 as compared to 2021. It sheds focus on the change in ICT budget allocations across 30 IT hardware, software, and service categories. The report also gives an indication of ICT opportunities in insurance sector with forward-looking insights on enterprise spending priorities for over 100 ICT product and service sub-categories over next two years.

The survey report provides information and insights into ICT spending by enterprises in insurance sector -

• Insights of its ICT budget allocation by business function and key spending areas
• Enterprise ICT budget allocations by type of ICT project
• Breakdown of enterprise budget allocation change by digital transformation areas
• Segment ICT budget allocation trends
• Insights on ICT technology spending priorities of enterprises in insurance sector
• Enterprise cloud computing investment priority

• Most enterprises in the insurance sector have seen their ICT budgets increase significantly in 2022 compared to 2021.
• Most enterprises have seen their ICT budgets slightly increase across most of the ICT products/services areas in 2022.
• Most enterprises have had slight increases in their software budget allocations across all software categories; however, for storage, the proportion indicating significant increases in their budget allocation is relatively high.
• Cloud computing budgets across all cloud implementation models have increased in most enterprises in the insurance sector in 2022.

• The report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals to understand their ICT investment priorities and trends.
• This survey report offers a thorough analysis of Enterprise ICT Investment Trends and how it has changed this year compared to previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
• With more than 50 charts the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.