Global IT Spending to Reach $1.48 Trillion by 2010:

Services  : $587B
Hardware: $562B
Software : $327B
Worldwide spending on information technology by end users hit $1.16 trillion in 2006, and will increase at a compound annual growth rate (CAGR) of 6.3% to reach $1.48 trillion in 2010, according to new IDC forecasts on worldwide vertical market IT spending. 

Other Highlights from the IDC study include: 

  • Worldwide software spending is expected to reach $327 billion in 2010, reflecting a five-year CAGR 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 CAGR of 5.8% from 2005 to 2010. The largest market opportunities reside in government, banking, and discrete manufacturing.

"Regional dynamics can significantly impact top business challenges in different industries," said Anne Lu, program manager in IDC's Worldwide Vertical Market research program. "IT vendors should look closely at the unique industry and regional trends and business challenges of each target market and then segment their customers based on these needs. This needs-based segmentation should help deliver a win-win solution for IT suppliers and their customers. Customers will get the strategic solutions they need – and subsequently buy more – and IT suppliers will in turn increase sales and profits."

In the study, Worldwide IT Spending, 2006-2010 Forecast Update by Vertical Market: North America, West Europe, Asia Pacific, and Rest of World, IDC presents comprehensive IT spending forecasts by 17 vertical markets for four regions, based on IDC's vertical research and Worldwide Black Book research completed in 3Q06.

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