2008 IT Spending
Although IT budgets are increasing across the board, the growth is not evenly distributed across all industry sectors. Utilities and energy, benefiting from increasing demand and shortages in supply, lead IT spending growth at 8.0%. The high tech sector, reflecting a strong export market, also shows strong IT spending growth at 7.0%. Professional and technical services, wholesale distribution, insurance, and government all show IT spending growth above the composite metric of 4.0%. Lagging significantly behind the composite metric are three industries that suffer from weaker economic conditions. Process manufacturing, which shows flat IT spending growth this year, includes many food and building material suppliers that are facing increasing costs of raw materials as well as weakness in the housing sector. Retail, showing only 2.0% IT spending growth, is hindered by weakness in consumer spending. Banking and finance organizations, with only 2.5% growth, are suffering from the meltdown in the credit markets and a downturn in new home purchases. Healthcare, which is constantly operating in an environment of cost-containment, shows only 3.0% median growth in IT spending.
View the complete FREE IT Spending report here: 2008/2009 IT Spending, Staffing and Technology Trends Report: Executive Summary
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