IT spend set to soar by 2010

Information technology spend in the region will surpass $45 billion by 2010, up 50% on 2006.

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By  Administrator Published  July 8, 2007

Information technology spend in the region will reach more than $45 billion by 2010, up 50% on 2006, according to IDC figures cited by Gulf News.

Spend on IT security will be one of the main areas of growth, reaching $9.3 billion by 2009, the market intelligence firm predicted, with the main investment coming from the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain.

IT spending covers software products, computer equipment, IT services, IT security, and data communication products such as switches and routers.

"The region is witnessing increased activity - and therefore heightened demand for IT - with the development and expansion of huge infrastructure projects, e-government drive, construction boom, telecoms sector advancements, adherence to global financial standards, and intensified competition," IDC Middle East and Africa analyst Francis Hook stated on the release of the firm's most recent quarterly executive tracker for the MEA region.

The six countries in the GCC will spend $7.8 billion on IT this year, an increase of 15% on 2006, IDC predicted earlier this year.

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