Western European consumer packaging industry spent $13.5 bln on IT in 2005
According to IDC, overall IT spending in the consumer packaged goods (CPG) industry (including both manufacturing and retail) will reach approximately $13.5 bln in 2005 in Western Europe. IDC foresees a CAGR over the 2005?2009 forecast period of 5%, reaching a market value of nearly $16.5 bln by 2009. Packaged software is expected to drive growth over the forecast period, and it will witness the fastest growth rates, with a 2004?2009 CAGR of 5.9% for CPG manufacturers and 6.1% for CPG retail distributors in Western Europe. In the IT services space, IDC sees particular opportunities for industry-specific software applications and IT outsourcing. IDC expects a 2004?2009 CAGR of 2.1% in hardware spending for Western European CPG manufacturers and a CAGR of 2.4% for Western European retail distributors, with the value of the CPG market expected to reach close to $4 bln by 2009.