IT investments increasing despite economic downturn
Demand worldwide for information technology is still growing strongly despite general economic turbulence, according to research institute EITO.
Sep 11, 2008
Demand worldwide for information technology is still growing strongly despite general economic turbulence, according to research institute EITO.
The world IT market is expected to grow in 2008 by 5.2 percent to 963.5 billion euros.
The up-and-coming economies of China, India and Russia are experiencing a boom, with growth rates between 17 and 18 percent. 'The weakening trend in the world economy has hardly affected turnover in the high-tech sector', commented 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.
According to the EITO, the three main global markets in terms of turnover are displaying very dynamic development in the current year. In the European Union IT turnovers are growing in 2008 by 4.2 percent to a total of 311.1 billion Euro. The main contributors to growth are here the new EU members such as Poland, the 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 percent, will probably remain at a similar level. In Japan, according to the EITO forecast for 2008, the market is gaining in value by 4.0 percent to 127.7 billion Euro. Even in the USA there are no real signs of a brake on expansion. IT turnover in the United States is increasing in 2008 by 3.7 percent to 345 billion Euro.
EITO said that with a growth of 4.4 percent to 360 billion Euro 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', said Lamborghini. The software market worldwide is forecast to grow in 2008 by 6.7 percent to 185 billion Euro and the market for IT services by 6.0 percent to 476 billion Euro.
The research also found that by far the strongest growth in demand at present 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 percent to 39.1 billion Euro. In India turnover is increasing by 17.2 percent to 18 billion Euro and in Russia by 17.5 percent to 12.5 billion Euro. According to the latest forecasts these countries will maintain their rate of growth also in the year to come.
The world IT market is expected to grow in 2008 by 5.2 percent to 963.5 billion euros.
The up-and-coming economies of China, India and Russia are experiencing a boom, with growth rates between 17 and 18 percent. 'The weakening trend in the world economy has hardly affected turnover in the high-tech sector', commented 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.
According to the EITO, the three main global markets in terms of turnover are displaying very dynamic development in the current year. In the European Union IT turnovers are growing in 2008 by 4.2 percent to a total of 311.1 billion Euro. The main contributors to growth are here the new EU members such as Poland, the 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 percent, will probably remain at a similar level. In Japan, according to the EITO forecast for 2008, the market is gaining in value by 4.0 percent to 127.7 billion Euro. Even in the USA there are no real signs of a brake on expansion. IT turnover in the United States is increasing in 2008 by 3.7 percent to 345 billion Euro.
EITO said that with a growth of 4.4 percent to 360 billion Euro 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', said Lamborghini. The software market worldwide is forecast to grow in 2008 by 6.7 percent to 185 billion Euro and the market for IT services by 6.0 percent to 476 billion Euro.
The research also found that by far the strongest growth in demand at present 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 percent to 39.1 billion Euro. In India turnover is increasing by 17.2 percent to 18 billion Euro and in Russia by 17.5 percent to 12.5 billion Euro. According to the latest forecasts these countries will maintain their rate of growth also in the year to come.