IT spending in Central Eastern Europe surpassed $19 bln in 2004
IDC estimates that spending on information and communications technology in Central and Eastern Europe (Russia, Poland, the Czech Republic, Hungary, Slovakia, and Croatia) will surpass $19 bln in 2004, up 18.4% compared to 2003. By 2008, IT spending should top $31.68 bln in the region.
The manufacturing sector (process and discrete) will constitute the largest share of IT spending in the CEE region during 2004. The transport, communications, and utilities sectors together will be responsible for the second largest amount of IT spending and the finance sector (including banking, insurance, and other financial services) the third largest. Together, the three sectors are expected to make up more than 55% of IT investments in 2004. In terms of expenditure, other key segments in the CEE region include government administration, agriculture, construction and mining, and retail/wholesale.
The country with the largest population, Russia, accounted for nearly 44% of IT spending in 2003 and is expected to constitute more than 47% of spending in 2004, with the manufacturing, finance, and government sectors leading in terms of IT spending over the next few years. At nearly 22% in 2003 and an estimated 21.1% in 2004, Poland came in second, with the manufacturing, finance, and communications verticals leading spending. The Czech Republic will be the third largest market in 2004 and Hungary the fourth.