Are We Still in a Recession?
That would be yes. As a result, IT spending will not make a huge comeback this year, only a 3% increase at constant currency.
IDC forecasts worldwide IT spending will increase US$ 1.48 trillion in 2010, lower than the US$ 1.5 trillion recorded in 2008. Broken down, they forecast hardware spending to increase by 5%, software spending by 2% and IT services by 3%.
They note the lower number for software is due in part to the lower value of signed contracts in 2009 and continued caution towards project spending in mature economies.
North America Lags Behind
North America lags behind the rest of world with regards to IT spending. IDC states that IT spending in the US alone will actually be less than 3%, with the SMB sector struggling to fund new initiatives. And Canada is struggling as well with an expected decline in spending of 1%.
Asia/Pacific seems to be forecast to do the best this year, with growth of 6% in IT spending. Even better for China and India, spending is expected to experience double-digital growth this year.
What Does This Mean for Our Industry?
It is a bit interesting to read this considering the "record" 2009 that many content management and social software vendors have had.
There may not be too much to be concerned with in this industry though as a report from Wintergreen Research states that as the web has become such a significant channel for the enterprise, the web content management software market alone is forecast to become US$ 1.4 billion by the end of 2015, and the larger ECM market overall is forecast to reach US$ 10.3 billion .
Get More Details
The IT spending forecasts are based on IDC's Worldwide Black Book. It provides spending forecasts for 54 countries around the world.
You can learn more about the new forecast during a live telebriefing on February 25th if you are an IDC client.