$417 bln will be spent on IT in 2005

US IT spending will increase to $417 bln in 2005 and reach $497 bln by 2008, IDC says. government, manufacturing, and banking continue to drive IT spending in process management and content management. The consumer/home vertical has become increasingly important for IT vendors. IDC expects the share of this vertical’s spending on software to increase from 10.5% in 2004 to 13.5% in 2008. Its share of spending in the personal computers and peripherals and storage markets is expected to reach 35% and 29%, respectively, driven mainly by the proliferation of wireless and digital technologies.