Global IT Markets To Recover In 2010 Says Bank

If the results of a recent survey carried out by Goldman Sachs are to be believed, IT spending is well on its course of recovery and it is expected to show a marked improvement by 2010.

The survey also indicated that the IT spending will be able to generate about 4 percent growth world over in the coming year and a major reason for this is said to be the demand-purchase and upgrades which had remained restricted this year due to the economic downturn.

The findings of the survey have pointed out that the number of businesses, planning to increase spending on software stood at 21 percent in June but the same has risen to 44 percent for this month. Meanwhile planned expenditure on hardware increased to 58 per cent from 37 percent in June.

The bank also added that IT solutions companies like Cognizant and Accenture were very likely to benefit as it sees demand for discretionary services that are likely to grow significantly in the next 6 months.

Experts believe that cloud computing and virtualization along with application development, systems integration and infrastructure are going to be the main areas of spending for businesses in the coming year.