IT vendors could see growth spurt
by Staff -- Manufacturing Business Technology, 11/1/2004 7:00:00 AM
Conditions appear ripe for a mini-boom in corporate IT spending, according to Forrester Research, Cambridge, Mass. A majority of 195 North American CIOs polled by Forrester in Q2 2004 sensed a "very strong business climate" and expressed optimism about the chances of IT budgets expanding in 2005. Forrester says this optimism comes at a time when cyclical forces also should work to boost technology spending. Typically, Forrester says, the advent of new technology kicks off an eight- to 10-year period of heavy IT spending, followed by equal periods in which companies lower spending to digest the changes. Forrester expects overall IT spending to grow at a compound annual rate of 7 percent through 2008. Spending on computer hardware is expected to lead the charge, growing at a 9-percent clip over the three-year period.
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