Worldwide IT spend set to grow 7% in 2011, reaching $3.67trn

Spend, spend, spend. At least that’s what Gartner thinks.

Worldwide IT spend is poised to grow 7.1% in 2011, reaching $3.67trn (£2.29trn), according to Gartner’s quarterly outlook. This is an upward revision of the 5.6% growth projected by the analyst firm in the first quarter of this year.

Spending on public cloud services is set to grow nearly four times faster than overall IT spend in the next five years. Gartner predicts an annual growth rate of nearly 20% for public cloud services, increasing from $70bn in 2010 to $180bn in 2015. However, the 2010 figure represents only some 2% of total IT spend, rising to just 4% by 2015.

The computing and hardware sector is set for the strongest growth, with spending forecast to increase by 11.7%, reaching $268bn in 2011. Enterprise software will be the next largest area of growth, forecast to rise 9.5% to $268bn, while IT services will comprise the largest area of IT spending at $846bn, a 6.6% increase from 2010.

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