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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.

Our Comments

Speculations and expectations, Goldman Sachs is possibly hoping for some kind of self fulfilling prophecy to happen as it prepares for 2010 to be the year when the world fully recovers from the worst recession it has seen in decades.

Related Links

IT recovery is set for 2010 (opens in new tab)

( The Inquirer)

Survey: IT spending to recover in 2010 (opens in new tab)

(CNET News)

IT buyers will keep purses shut till New Year (opens in new tab)

(Channel Register)

Goldman Sachs - IT Spending Survey (opens in new tab)

(Scribd)

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.