Global IT spend up in spite of economic gloom
Worldwide demand for information technology is growing strongly, with world IT market is expected to grow in 2008 by 5.2 per cent to €963.5 billion.
“The weakening trend in the world economy has hardly affected turnover in the high-tech sector“, said EITO-Chairman Bruno Lamborghini. Fears that the international finance crisis and increasing raw materials prices could seriously impair IT investment have so far not been realised. For the year 2009 EITO is expecting a growth of the global IT market of 5.6 percent. Worldwide turnover in computers, software and IT services could for the first time reach more than one trillion Euro
The three main global markets in terms of turnover are displaying ‘very dynamic development’ in the current year. In the EU, IT turnovers are growing in 2008 by 4.2 per cent to a total of €311.1 billion. The main contributors to growth are new EU members such as Poland, Czech Republic, or Rumania, which still have a ‘need to catch-up’ in the development of their IT infrastructure.
“In the coming year growth in the EU, at 4.2 per cent, will probably remain at a similar level,” says EITO-Chairman Bruno Lamborghini. “In Japan the market is gaining in value by 4.0 per cent to €127.7 billion. Even in the US there are no real signs of a brake on expansion”.
IT turnover in the US is increasing in 2008 by 3.7 per cent to €345 billion, EITO adds; with a growth of 4.4 per cent to €360 billion, the US market will ‘gain real momentum’ again in 2009.
The international market in IT is driven in particular by increasing expenditures for software and IT services, says EITO’s Lamborghini: “The software market worldwide is forecast to grow in 2008 by 6.7 per cent to €185 billion, and the market for IT services by 6.0 per cent to €476 billion.”
Strongest growth in demand is in China, India, and Russia, although on a lower absolute level than in the leading industrial states. In China the IT market is growing in 2008 according to EITO by 17.8 per cent to €39.1 billion. In India turnover is increasing by 17.2 per cent to €18 billion, and in Russia by €17.5 per cent to €12.5 billion. According to the latest forecasts these countries will maintain their rate of growth also in the year to come.