Connections +
News

Research and Markets: IT spending to grow by 4-8% in 2005

After showing steady improvement last year, the worldwide technology market will show moderate spending growth in 2...


February 18, 2005  


Print this page

After showing steady improvement last year, the worldwide technology market will show moderate spending growth in 2005, according to Research and Markets.

A report released today by the Dublin, Ireland research firm projects that IT spending will come in at the higher end of the range, between 6% and 8%.

“Some studies report that IT executives would spend more on new technology if they had more funds, (which means) a hint of pent-up demand,” authors of the report said.

“Overall, CIOs continue to take a cautious approach to spending on emerging technologies such as VoIP and RFID, but wireless initiatives are gaining momentum as drivers of new IT investment. Surveys indicate that IT security remains a priority for most corporate CIOs, and business intelligence software and storage solutions are top-of-mind as well.”

The report examines which regions and countries will experience the fastest growth, what are the fastest growing segments of the technology market, how much large enterprises increase their IT spending this year and what their technology investment priorities will be.