US tech giants ride high on Aussie dollar's back

 

Local IT services market grows 19.4 percent in USD.

Australia's soaring dollar made its otherwise stagnant IT services market the fastest growing by US dollar revenue in the world, analyst firm Gartner reported.

The dollar strengthened throughout 2010 to hit a high of US$1.10 this week. This pushed the local IT services market's growth in US dollars to 19.4 percent, Gartner found.

The Australian IT services market was worth $22.8 billion in 2010 -- around US$24 billion at today's US exchange rate.

Australian contracts accounted for about a third of the US$69 billion spent on IT services in Asia Pacific. The regional market grew 16 percent last year.

Across the globe, business and government spent US$793 billion on IT services last year, up just three percent from 2009 figures.

Canada, the next fastest growing market in US dollar terms, grew 13 percent. The North American region, which accounts for almost half the global spend, grew 3.6 percent.

The next largest market, Western Europe, shrunk two percent.

 

IT Services Markets
Market growth in local and US currency.

 

Although Australia's value to US-based companies grew significantly, not much else changed within the nation.

Local IT services revenues grew just 1.5 percent in Australian dollars, and the market continued to be led by international giants IBM (10.9 percent), HP (7.1 percent), CSC (4.2 percent) and Accenture (4.1 percent).

Gartner attributed Fujitsu's debut on Australia's top five to its 2009 acquisition of Telstra’s Kaz Group. Fujitsu had 3.4 percent of the local IT services market.

Copyright © iTnews.com.au . All rights reserved.


US tech giants ride high on Aussie dollar's back
Image credit: XE.com
 
 
 
Top Stories
IBM, NEC picked for major NSW Transport deals
Final contract negotiations begin.
 
Govt proposes crackdown on ISPs over piracy
Wants new legal powers for copyright industry.
 
Westpac interim CIO resigns
Group CIO yet to be appointed.
 
 
Image credit: XE.com
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  30%
 
Application integration concerns
  3%
 
Security and compliance concerns
  27%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  22%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1013

Vote