Worldwide enterprise IT spending across all industry markets will grow 2.9% in 2010 and surpass $2.4 trillion, according to a Gartner Inc. announcement this week. Analysts said that all industries are continuing to return to growth after a challenging year in 2009, when IT spending by vertical market totaled $2.3 trillion, a 5.9% decline from 2008.
Utilities and the national and international government sectors will experience the strongest growth rates in 2010, with IT spending growing 4.7% and 4% respectively in 2010. Insurance IT spend was in the middle of the pack—expected to grow 2.1%. Communications media and services is expected to grow 3.6% in 2010, and health care is expected to grow 3.2%. Other industries experiencing the highest growth rates are banking and securities, retail, and manufacturing and natural resources.
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