Worldwide information technology (IT) spending will reach $1.43 trillion by 2005, according to a report released by Boston-based market analysis firm Aberdeen Group.
“Total IT expenditures in 2001 were flat worldwide, grew at a slightly negative rate in the United States, ” says Hugh Bishop, senior vice president. “Aberdeen forecasts that spending will begin to recover this year, although the degree and exact timing of that recovery will vary from country to country.”
In the report, “Worldwide IT Spending 2002-2005: Timing the Recovery”, Aberdeen forecasts IT spending growth will be significantly lower than the double-digit rates observed in the late 1990s. As a result, technology suppliers will have less room for error.
“IT spending will no longer be a tide that lifts all boats,” continued Bishop. “As a result, suppliers and market segments exhibiting hyper-growth will most likely do so at the expense of others.”
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