"(Telecompaper) Worldwide enterprise IT spending across all industry markets will grow 2.9 percent and surpass USD 2.4 trillion in this year, according to a study by Gartner.
The study adds that industries are continuing to return to growth after a challenging year in 2009, when IT spending by vertical market totalled USD 2.3 trillion, a 5.9 percent decline from 2008. Utilities and the national and international government sectors will experience the strongest growth rates, with IT spending growing 4.7 and 4 percent respectively this year. Utilities industry's total IT spending will be USD 125.6 million, communications media and services will grow at 3.6 percent with total IT spending of USD 392.5 million. This will be followed by the healthcare industry with 3.2 percent growth and IT spending of USD 88.9 million. Banking and securities will grow 2.8 percent to USD 390.5 million, retail industry by 2.7 percent to USD 146.2 million. Wholesale trade will grow 2.6 percent with USD 83.3 million in IT spending, education industry by 2.5 percent with USD 64.2 million in IT spending. Gartner recommends that technology and service providers target high-growth industry segments through 2014 with most-likely scenario for enterprise IT spending growth at 3.5 percent, as well as undertaking further analysis of large, slow-growth segments for unusual growth opportunities at the subindustry segment level. However, Gartner research director Kenneth Brant advised technology providers to exercise caution with regard to the economy and its impacts on enterprise IT markets. Furthermore, Brant urged technology providers to continue to promote IT services that deliver 'cost optimisation' through 2011, which he contends will be a persistent and overriding value for IT buyers even as markets return to growth."
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