Global IT Spending To Hit $1.48 Trillion By 2010

Annual growth rate will be 6.3%.

Worldwide end users spent $1.16 trillion on information technology in 2006 and will increase IT spending at a rate of 6.3% to reach $1.48 trillion in 2010, according to a study from IDC, a Framingham-Mass. research firm.

Highlights from the study include the following:

  • Worldwide software spending is expected to reach $327 billion in 2010, reflecting a five-year rate of 7.7%. The largest markets are discrete manufacturing, the services industries, and government. The fastest-growing markets are healthcare, communications and government.
  • Worldwide hardware market spending is set to recover in the 2006-2010 period, reaching $562 billion in 2010. IDC sees rising spending on volume servers, peripherals and storage and networking equipment across regions. It is driven mainly by the robust spending from the home business and consumer, communications and government sectors.
  • IDC expects spending on IT services worldwide to reach $587 billion in 2010, reflecting a rate of 5.8% from 2005 to 2010. The largest market opportunities reside in government, banking and discrete manufacturing.

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