Senior IT executives expect spending on information technology to rebound over the next 12 months, according to a new survey by the Software & Information Industry Association (SIIA).

Fifty-one percent of survey participants said they expect the recovery to begin before the end of the second quarter 2004. Just under 70 percent think a recovery will begin before the end of the third quarter 2004.

The survey by SIIA was conducted to gauge the views of IT executives. "The results of this survey are timely for all segments of the IT industry," said Fred Hoch, VP of SIIA's Software Division. "As the recovery in IT spending gets underway, it's critical for IT managers to be up-to-date on the most appropriate products and solutions for their companies. Now is the time for vendors to connect with potential customers -- the last thing they want to do is miss the coming rebound."

The survey suggests that several segments of the IT market will benefit. Thirty-six percent of respondents plan to begin new remote access and/or mobility projects, 34 percent say they will focus new spending on security products and 30 percent will begin server replacement and upgrades. Software spending will focus on infrastructure upgrades, customer relationship management and portal/intranet deployment.

The survey also demonstrates the momentum behind Web Services. Nearly 65 percent of respondents say they currently use Web Services technologies and standards. Over the next year, 66 percent say they will begin or continue a Web Services project.