According to the 2004 Telecommunications Market Review and Forecast from the Telecommunications Industry Association (TIA), enterprise telecommunications equipment spending in the US will grow from a current $94 billion to over $99 billion by the end of this year. The TIA expects enterprise telecom equipment spending to grow by a compound annual growth rate (CAGR) of 6.7% between this year and 2007, surpassing $121 billion by the end of 2007.