Nov 3, 2003 : IDC: IT and Telecom Spending Recovering
📅 - The IT and telecom industries have gradually returned to positive growth in 2003 with continued recovery expected for next year, according to research and analysis firm IDC (idc.com).
According to IDC, IT spending worldwide is expected to grow five percent to $91.6 billion in 2004 and spending on telecom is estimated to grow at four percent to $1 trillion.
"Our forecasts are based on a relatively conservative set of economic assumptions," said Stephen Minton, IT spending analyst at IDC. "If the recent announcement of surging economic growth in the US is sustained, and the gradual improvement in international economies continues, we can look forward to a further uptick in IT spending expectations."
IDC reported that total spending in 2003 will show positive growth this year in the United States and emerging markets, while declines will occur in Europe, Japan and Canada.
Software and services spending is expected to improve in 2004, IDC said.
"The recent economic improvements will undoubtedly be good for many IT vendors, though growth will not return to dot-com heights," added Minton. "Pent-up demand within IT departments, particularly for mission-critical infrastructure, has reached unprecedented levels."
IDC also expects the end of major combat in Iraq to contribute to a positive upswing.
According to IDC, IT spending worldwide is expected to grow five percent to $91.6 billion in 2004 and spending on telecom is estimated to grow at four percent to $1 trillion.
"Our forecasts are based on a relatively conservative set of economic assumptions," said Stephen Minton, IT spending analyst at IDC. "If the recent announcement of surging economic growth in the US is sustained, and the gradual improvement in international economies continues, we can look forward to a further uptick in IT spending expectations."
IDC reported that total spending in 2003 will show positive growth this year in the United States and emerging markets, while declines will occur in Europe, Japan and Canada.
Software and services spending is expected to improve in 2004, IDC said.
"The recent economic improvements will undoubtedly be good for many IT vendors, though growth will not return to dot-com heights," added Minton. "Pent-up demand within IT departments, particularly for mission-critical infrastructure, has reached unprecedented levels."
IDC also expects the end of major combat in Iraq to contribute to a positive upswing.
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