Strategy

Worldwide IT spending to hit $1.5 trillion by end of decade

January 12, 2007

Global IT spending is expected to reach $1.5 trillion by 2010, according to new research.

Worldwide IT spending will grow by six percent each year until 2010, according to a newly-published IDC report. Global spending last year totaled $1.2 trillion.

International spending on IT services is set to reach $587 billion by the end of the decade, reflecting an annual growth rate of six percent. The largest areas of growth will be government, banking and discrete manufacturing, according to the report.

Software expenditure is expected to hit $237 billion over the same period, with an annual growth rate of eight percent. The fastest growing markets will be healthcare, communications and government, the intelligence firm said.

Furthermore, hardware spending will peak at $562 billion in 2010 driven by spending from consumers and government sectors, according to the research.

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