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IT spending reached US$1.5 trillion in 2010

IT spending worldwide during 2010 surpassed expectations, increasing eight percent year on year to US$1.5 trillion. This represented the fastest rate of growth since 2007 indicating good recovery from the financial downturn, with the increase being driven by pent up demand for hardware upgrades and infrastructure investment following the financial crisis.

When including telecoms services, IDC figures indicate that there was six percent growth in the overall ICT market to $3 trillion. Spending on hardware helped lead growth, with spending on computer systems, peripherals, storage, mobile devices and network equipment increasing by 16% to US$661 billion, thought to be the largest growth since 1996. Spending on software and services saw more modest growth however, improving by 4% and two percent respectively.

Source: Tech Eye

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