IT spending in verticals to reach $2.4 trillion this year

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IT spending in verticals to reach $2.4 trillion this year

Karl Flinders

Global IT spending in vertical markets will increase 4.1% this year to $2.4tn.

Gartner said that service providers should prepare for the 4.1% increase in spending but be prepared for slow growth and a possible double-dip recession.

"Suppliers should convert to a growth market strategy and allocate business development resources to maximise long-term industry growth opportunities," said Kenneth Brant, research director at Gartner. "However, we recommend that they continue to promote the value of solutions that deliver 'cost optimisation' in 2010 and 2011, which we believe will be a persistent value for IT buyers even as markets return to growth."

Here are the figures in full.

Global IT spending worldwide (millions of Dollars)

Industry IT spending 2010  IT spending 2009  Growth (%) 
Banking and securities 396,867 379,570 4.6
Communications media and services 394,171 377,537 4.4
Education 63,992 61,463 4.1
Healthcare 88,626 86,191 2.8
Insurance 157,771 151,858 3.9
Government – local and regional 184,451 176,828 4.3
Manufacturing and natural resources 428,856 416,111 3.1
Government – national and international 248,726 234,218 6.2
Retail 149,216 142,552 4.7
Transportation 106,406 103,427 2.9
Utilities 124,451 120,387 3.4
Wholesale trade 84,063 80,754 4.1
Grand total 2,427,596 2,330,895 4.1

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