$213 bln will be spent on software in 2005

Worldwide software spending is expected to reach $213 bln in 2005, reflecting yearly growth of 7% from 2004 to 2005. The largest increases will be in the government and services industries. The worldwide hardware market revenue is set to recover in the 2004-2008 period to reach $465 bln in 2008. The market is mainly being driven by the robust spending from consumer/household, communications and media, and government sectors.