Global IT spending to grow by 6.3% in 2006

IDC forecasts that worldwide IT spending will increase by 6.3% in 2006, as economic stability in the US, Europe, and Japan combines with continued robust growth in emerging markets. Growth will be strongest in the software market at 7%, while hardware and services are both expected to post overall growth of 6% 2005. In the US, overall growth in 2006 will be 5.8%, a slight decline from the 6.4% expansion of 2005. Strongest growth will be posted in network equipment, outsourcing services, and system infrastructure software, including security tools.