Europe's IT spend slipping
Published: 05 May 2005 16:30 BST
Western Europe has fallen behind the worldwide average for IT spending growth.
The European IT market is expected to grow by four percent this year while worldwide that number will hit six percent, according to the latest IDC Worldwide Black Book 2005.
Europe's decline is due to worsening economic conditions which led businesses to delay major IT purchases, says IDC.
By comparison, IDC predicts IT spending will rise one percent in Japan and five percent in the US during 2005.
China, India and Russia were named in the Black Book as the emerging markets with the greatest overall IT growth potential, while India is expected to overtake China as the fastest grower in terms of network equipment spend.
Worldwide IDC sees IT growth continuing at a six percent annual rate until 2009, or slightly outpacing GDP growth.
During the first quarter of 2005, prominent areas for new IT projects included security, compliance and business intelligence, according to IDC.
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