Steady Growth Expected In Global IT SpendingSteady Growth Expected In Global IT Spending

Worldwide IT spending is expected to increase at a compound annual growth rate of 5.9 percent through 2009, with media and communications among the highest growth industries, a market research firm said Tuesday.

Spending is expected to reach $1.3 trillion by the end of 2009, International Data Corp. said. Government, manufacturing and banking are expected to be the biggest spenders.

"We remain optimistic about vertical market spending on IT," IDC analyst Anne Songtao Lu said in a statement.

Spending in the media and communications sector is expected to increase to $128 billion by 2009 from $95 billion this year, IDC said. Heavy investment in network equipment and PCs, as well as peripherals and storage, are expected to drive growth.

Other industries of interest include telecommunications, which is expected to make ongoing IT investments related to the roll out of more advanced services, such as high-speed 3G networks, as well as the migration to Internet-based core infrastructures.