Global IT spending to hit US'$1.5 trillion by 2010'

The IDC report predicts worldwide IT spending will grow by six percent each year until 2010. Global spending last year totalled US$1.2 trillion.

The study also claims that international spending on IT services is set to reach US$587 billion by the end of the decade, reflecting an annual growth rate of six percent. The largest areas of growth will be government, banking and discrete manufacturing, according to the report.

Software expenditure is expected to hit US$237 billion over the same period, with an annual growth rate of eight percent. The fastest growing markets will be healthcare, communications and government, the intelligence firm said.

Furthermore, hardware spending will peak at US$562 billion in 2010 driven by spending from consumers and government sectors, the research claims.

byglobalhititsecurityspendingtotrillion