IT spending 'to hit $1.5tr by 2010'

Businesses and consumers will spend a total of $1.48tr worldwide on IT by 2010, research house IDC predicts.

This equates to 6.3 per cent year-on-year growth from 2006, when end users shelled out $1.16tr on computing wares.

Software spending is predicted to reach $327bn by 2010 with consumers and government sectors driving the splurge.

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Hardware expenditure will hit $562bn by 2010 and will be driven by spending from consumers and government sectors.

IT services worldwide are expected to reach $581bn in 2010, with the largest market opportunities in government, banking and discrete manufacturing, according to IDC.