Worldwide IT spending reached $965 billion in 2004 and will increase at a compound annual growth rate (CAGR) of 6 percent from 2004 to 2008 to reach $1.2 trillion, new research published by IDC reveals. From a U.S. perspective, IDC's third quarter 2004 forecast shows U.S. IT spending will reach $416 billion in 2005, an increase of 5.8 percent from 2004. IDC anticipates that IT spending in the U.S. will continue to increase and reach $501 billion by 2008, a CAGR of 5.9 percent.
These results indicate a positive outlook for the U.S. and worldwide IT market, particularly after 2005. With an improving business environment and recent GDP gains, companies are loosening their restraints for information technology investments.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access