Worldwide enterprise IT spending across all industry markets is forecast to surpass $2.4 trillion in 2010, a 4.1 per cent increase from 2009 spending, according to Gartner. Industries are returning to growth after a difficult year in 2009 when IT spending by vertical market totaled $2.3 trillion, a 5.6 per cent decline from 2008.

According to Kenneth Brant, Research Director at Gartner, 2010 will see IT spending in all major industries returning to growth, although that growth will vary by individual sector. National and international government will show the strongest growth in 2010, as IT spending is forecast to grow 6.2 per cent worldwide (see Table 1). Among the two largest industry segments, IT spending in the banking and securities market will rebound to $396.9 billion in 2010, a 4.6 per cent increase from 2009; whereas IT spending will recover more slowly in manufacturing and natural resources during 2010, growing to $428.9 billion, a 3.1 per cent increase from 2009.