CIOs in the UK and Ireland are expected to increase their spending by 1.4% in 2015, fuelled by the economic recovery, according to research company Gartner.
Technologies related to the internet of things (IoT), robotics and 3D printing are among the big areas of investment.
Gartner’s research found that 10% of CIOs have already deployed IoT.
"A lot of science fiction is becoming real investment, such as 3D printing," said Gartner analyst Lee Weldon.
Gartner estimated that 5% of CIOs have already deployed 3D printing, while 9% of UK and Irish CIOs are implementing new forms of robotics. This is higher than the global average.
In 2015, the technologies attracting the highest level of investments will be analytics and cloud computing. According to Weldon, of the CIOs who said their organisations were developing new software, 21% were considering hosting these in the cloud as their first choice.
"After years of cost-cutting, strategic investment in information and technology is returning," said Weldon.
More advice for CIOs
He said companies are looking to drive business growth in new areas, pointing to widespread interest in technology trends such as cloud, mobility, IoT and digitisation.
CEOs recognise that growth often comes through technology innovation, according to Gartner's research. "There is more investment from the business in technology," said Weldon.
This year, spending on digital technology moved up three places to third priority, behind analytics and cloud but ahead of datacentre and infrastructure spending.
Gartner urged CIOs to spend the majority of their time working with areas of the business outside IT to ensure that the value of information and technology is understood and the right investments are made.
In 2015, leading CIOs will spend less than 40% of their time running the IT organisation, choosing instead to spend time with other CxOs (27% of their time), business unit leaders (18% of their time) and external customers (16% of their time).