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.