Worldwide IT spending is set for 5% growth to $916 billion in 2004, while spending on telecom services will show 4% growth to $1 trillion. According to the new IT Black Book, which gathers IT spending data from 55 countries, total spending in 2003 will show a return to positive growth this year in the United States and emerging markets, although worldwide growth will remain inhibited by declines in Europe, Japan and Canada.
The 3Q03 Telecom Black Book shows that data services growth will be 16% in 2004, while telco spending on equipment will show a long-awaited recovery to 7% growth in 2004 and 11% in 2005. "The telecom industry will finally return to increased equipment spending in 2004," said Ludovica Bruno, telecom analyst at IDC. "As the telecom winter gives way to a telecom spring, the rebound will reach 16.5% growth by 2007." International markets, meanwhile, continue to offer improving prospects and stability. "Latin America will see a recovery to 7% IT spending growth in 2004," said Juan Orozco, IT market analyst. "This will include a rebound to double-digit growth in IT services markets next year."