IT: $1.3 trillion by 2009

According to a report from IDC Corp called ‘Worldwide IT Spending 2005-2009 Forecast by Vertical Market: North America, Western Europe, Asia/Pacific, and Rest of World’, global IT spending will increase to $1.3 trillion by the end of 2009, with a compound annual growth rate (CAGR) of 5.9 percent from 2005 to 2009.

The sectors which are expected to grow are government, manufa-cturing, banking, healthcare, and the communications and media industry. With consumer spending on IT services, peripherals, and PCs experiencing double-digit growth, the potential within this market can outpace others over the longer term.

In the communication and media industry, the sector’s spending on IT is estimated to be $95 billion in 2005 and $128 billion by 2009. Growth within this market will be driven primarily by heavy investment in network equipment, PCs, as well as peripherals and storage.