Industry vertical market IT spending will contract by 6.8 per cent in 2009.

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Worldwide industry vertical market IT spending is projected to total $2.28 trillion in 2009, a 6.8 per cent decline from 2008, according to Gartner, Inc. Analysts predict the market will return to growth in 2010, when it will grow at 2.3 per cent to reach $2.34 trillion.

"Our expectations for when the market will return to positive growth in IT spending--and for how strong that growth will be--vary significantly by industry sector, with the majority of industries expected to enter a period of sustained, positive growth in 2011," said Gartner. "The three largest industry segments in 2008--financial services, manufacturing and government--will remain the largest industry markets worldwide through 2013."

Financial services will lead all industry vertical markets, with IT spending totalling $502.6 billion in 2009; however, this segment will decline 8.3 per cent. The agriculture, mining and construction market will experience the steepest decline in IT spending this year, declining 9.2 per cent. The national and international government...

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