Tech spending, fueled by the growth of cloud computing and the economic recovery, is expected to rise 5.7 percent to $1.6 trillion, according to market researcher IDC. That’s an improvement over the 3 percent gain expected this year.
“Cloud services, mobile computing, and social networking technologies are going to mature in 2011 and beyond,” according to Network World. “The research firm predicts these technologies will coalesce into a new mainstream platform for both the IT industry and the industries it serves.”
Demand for IT is expected to be strong in emerging markets, which is expected to account for more than half of all spending worldwide. Spending on cloud services will grow at 30 percent, the web site says, citing IDC.
IDC’s estimate is similar to Gartner, which has also forecasted a rebound in the IT market earlier this year.