Forrester Research and Gartner have each released forecasts for IT spending for 2010. The latter forecast is most recent, stating that worldwide IT spending will grow 5.3% in 2010 and will continue to grow as we move into 2011.
The IT industry is seeing steady growth in hardware sales (5.7% growth), though enterprise hardware spending will increase to levels still below that of 2008. This is expected to remain consistent through to 2014. The fastest growing area of IT spending is in data storage, which should hopefully prompt enterprises to come up with solid data management policies to deal with this increased data storage.
In terms of forecasted spending, IT services will also see a 5.7% growth and software a 5.1% growth.
The infrastructure market, which includes all the software to build, run and manage an enterprise, is the largest segment in terms of revenue and the fastest-growing through the 2014. The hottest software segments through 2014 include virtualization, security, data integration/data quality and business intelligence.
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Hat tip to business week