$714.9 mln will be spent on grid computing in 2005

According to Insight Research, worldwide grid spending will grow from $714.9 mln in 2005 to approximately $19.2 bln in 2010. Grid spending was examined in 14 vertical industries, with a majority of near term grid spending in manufacturing and financial service industries. Spending estimates could increase at a faster rate, Insight cautions, if draft specifications being developed as part of the Web Services Resource Framework (WSRF) to foster convergence of the Web service and grid computing communities succeed.