IT spending to grow by 4-8% in 2005: Study

By agencies   |   Wednesday, 23 March 2005, 08:00 Hrs
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BANGALORE:Steady IT spending by Indian company will contribute to the ICT spending growth, which is expected to grow by 4-8 percent this year, a study by eMarketer has said.

Comparing all the available data, eMarketer believes that information and communications technology (ICT) spending during 2005 will come in at the high end of the range of estimates from leading IT industry research firms.

Some studies report that IT executives would spend more on new technology if they had more funds, so there is even a hint of pent-up demand.

Overall, chief information technology officers continue to take a cautious approach to spending on emerging technologies such as VoIP and RFID, but wireless initiatives are gaining momentum as drivers of the new IT investment.

Meanwhile the study has indicated that IT security remained a priority for most corporate CIOs, and business intelligence software and storage solutions were on the top-of-mind as well.

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