Demand for IT services is on the rise in Estonia, Latvia and Lithuania. According to a new IDC study, spending jumped by nearly 20 percent in 2004 to $184.76 million and preliminary data points to a rise of 12.7 percent in 2005, reaching approximately $208 million. Latvia was the largest of the markets, representing an estimated 36.3 percent of IT services spending in 2004, but the spread between the three was small, with Lithuania accounting for 33.4 percent and Estonia for 30.3 percent.
The central government and telecommunications sectors spent the most on IT services in 2004, and preliminary data suggests they will again spend the most in 2005. Accounting for more than a third of the market, these verticals are expected to continue to lead investment in IT services over the next few years, as individual firms in all three countries upgrade existing systems and develop new ones, and work to improve efficiency.
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