Compliance spending to grow at 22% a year

IT departments are spending considerable efforts on creating, formalizing and automating processes, policies and procedures to address regulatory compliance requirements, according to IDC. The worldwide information management for compliance market will pass the $20 bln mark in 2009, and grow at a 22% CAGR through 2005-2009. The market forecast is built off of a market model that cuts across over 35 software, hardware and services markets tracked by IDC.