Worldwide IT spending will grow by 5.9% a year from 2005 to 2009, making it worth $1.3 trillion by the end of this period.
The estimated growth is from analyst IDC, which says government, manufacturing and banking will be the industries with the highest growth potential.
“We remain optimistic about vertical market spending on IT,” said Anne Songtao Lu, an analyst at IDC. “In addition, both the consumer and communications markets have interesting dynamics and are worth watching closely,” said Songtao Lu.
IDC said that with consumer spending on IT services, peripherals and PCs experiencing double-digit growth, the potential within this market could outpace that within others over the longer term.
Regarding the communication and media industry, Songtao Lu said, “With its economic rebound, the sector’s spending on IT is estimated to be $95bn (£55.8bn) in 2005 and $128bn by 2009.
“Growth within this market will be driven primarily by heavy investment in network equipment, PCs,
peripherals and storage.”