Worldwide IT Spending Outperformed Expectations in 2010

Thursday Feb 10th 2011 by Staff

IDC says worldwide IT spending grew 8 percent to hit $1.5 trillion last year.

DigiTimes: According to a new report from IDC, worldwide IT spending grew 8 percent during 2010 to hit $1.5 trillion. That's the fastest growth rate since 2007. Much of the growth was driven by hardware purchases that had been delayed due to the recession. In fact, hardware sales grew 16 percent to $661 billion.

"Like the global economy, the global IT industry performed better than expected in 2010," said IDC's Stephen Minton. "With business profits and stock markets back into a cycle of growth, many organizations took the opportunity to make up for lost time by upgrading mission critical systems and infrastructure over the course of the year. While downside macroeconomic risks are still present, we entered 2011 on the back of a resounding rebound for the technology industry."

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