Users spent $1.16 trillion (£595bn) on IT in 2006, and at a compound annual growth rate of 6.3% will spend $1.48 trillion (£760bn) in 2010, says analyst IDC.
IDC said worldwide software spending was expected to reach $327bn in 2010, reflecting a five-year compound annual growth rate of 7.7%.
The largest markets will be manufacturing, the services industries and government. The fastest-growing markets are healthcare, communications and government.
The analyst said worldwide hardware market spending was set to recover in the 2006–2010 period, hitting $562bn in 2010. IDC said spending would rise on volume servers, peripherals and storage, and networking equipment across regions.
The hardware growth will be driven by robust spending from the home business and consumer, communications and government sectors.
IDC also forecast spending on IT services worldwide would reach $587bn in 2010, reflecting a compound annual growth rate of 5.8% from 2005 to 2010.
The largest market opportunities in this sector will be in government, banking and discrete manufacturing.
“Regional dynamics can significantly impact top business challenges in different industries,” said IDC analyst Anne Lu. “IT vendors should look closely at the unique industry and regional trends and business challenges of each target market and then segment their customers based on these needs.”
As a result, she said, customers would get the strategic solutions they needed – and subsequently buy more – while IT suppliers would in turn increase sales and profits.
Comment on this article: firstname.lastname@example.org