Education IT To Grow $2.5 Billion This Year
Technology spending in education is seeing a surge in 2010. According to information released by IT research firm Gartner, worldwide enterprise IT spending in education will grow 4.1 percent, or about $2.53 billion, over 2009.
According to the report, "Forecast Alert: Enterprise IT Spending by Vertical Industry Market, Worldwide, 2008-2014, 1Q10 Update," worldwide enterprise IT spending across all vertical segments is forecast to increase by $96.7 billion to nearly $2.43 trillion in 2010.
The overall average growth rate will be 4.1 percent, the same as the forecast growth rate for education. That follows a decline of 5.6 percent in overall worldwide IT spending from 2008 to 2009.
Government, retail, banking/securities, and communications media/services are leading the way in terms of IT spending growth in 2010. IT spending in government (national and international) is forecast to grow 6.2 percent in 2010 to $248.73 billion, by far the greatest growth of any sector in the last year. IT spending in retail will grow 4.7 percent to $149.22 billion. And IT spending in banking and securities will grow 4.6 percent to $396.87 billion.
Education itself is the smallest of the vertical segments tracked by Gartner. In 2009, total IT spending in education was $61.46 billion. By the end of this year, will make up 2.64 percent of the overall vertical enterprise IT market worldwide, or $63.99 billion, consistent with its share of the overall picture in 2009.
Gartner cautioned that growth could be curtailed by a potential "double dip" in the recession, "based on uncertainties in the economic environment."
Further information about the report can be found here.
Executive Producer David Nagel heads up the editorial department for 1105 Media's education publications — which include two daily sites, a variety of newsletters and two monthly digital magazines covering technology in both K-12 and higher education.
A 21-year publishing veteran, Nagel has led or contributed to dozens of technology, art and business publications.
He can be reached at email@example.com. You can also connect with him on LinkedIn at linkedin.com/profile/view?id=10390192 or follow him on Twitter at @THEJournalDave (K-12) or @CampusTechDave (higher education). A selection of David Nagel's articles can be found on this site.