What gets in the way of tech investment? Tech debt and variable return-on-investment (ROI), according to a new survey of executives in eight industries – KPMG Global Tech Report 2026.

On average, technology investments are spread relatively across three categories. These include investments in new technology and systems (36% of budgets), maintenance spending on current technology (35%), and transformation through the overhaul of business models and processes (29%).

But the proportion of investment in new technology is variable depending on the “tech debt” of an organization – the amount of overdue investment needed in system security, scalability, and data standardization. In fact, 63% of executives say that this tech debt is holding back their progress with new technology…