US enterprise IT spending to reach $252 bln in 2005

In-Stat estimates that US enterprise firms will spend more than $252 bln on IT products, services and personnel in 2005, a 3% increase from 2004. Annual percentage growth of IT spending is expected to hit a trough in 2006, and then begin to increase again by 2007. By 2009, enterprise firms are expected to spend more than $270 bln on IT. Growth in spending per firm is expected to remain fairly slight, moving forward. This, together with equally slight growth in the number of firms in this market, should result in very moderate growth in total enterprise IT spending over the next several years. Annual growth in aggregate IT spending is believed to have peaked in 2004 and should fall through 2006.