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02.09.10 Significant Growth Expected In US IT Market By Doug Caverly Regardless of what the Dow may be doing at the moment, the recession isn't going to last forever, and in fact, a new report indicates that the IT industry is poised to recover. Business Monitor International believes spending in this field will soon start to grow at a rate of 5.5 percent (or more) per year. In a free overview of its United States Information Technology Report covering the first quarter of 2010, Business Monitor International stated, "US spending on IT products and services is forecast to grow to US$514.5bn in 2010 and to reach a level of US$647.7bn by 2014." The summary then gave a more detailed breakdown of this projection, continuing, "In BMI's core forecast scenario, US IT market growth will increase to 5.5% in 2010 and then advance at a compound annual growth rate (CAGR) of 5.9% over our five-year forecast period." That's a pretty positive-sounding scenario for such a well-established field. Perhaps even more so since the recession has caused corporations and individuals to make an effort to save money and cut some corners, embracing things like cloud computing and netbooks. Let's just hope that pieces of this year's $514.5 billion pie are fairly distributed, then. About the Author: Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

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