IT Spending to Grow at This Stunning Rate in 2011

Information innovation research and advisory company Gartner Inc . reports that worldwide spending on IT products and services will grow by 7.1% in 2011, revised upwards from previously analyst projections of 5.6%. Global IT spending will total $846 billion this year, according to the company's estimates, a 6.6% increase from last year. Computer Hardware and Enterprise Software will lead the sector's products in growth, projected to rise at clips of 11.7% and 9.5%.

Spending on cloud computing products and services will grow at a rate of 4x the larger IT sector this year, estimated to total $89 billion in 2011 and over $150 billion by 2015. Although exciting, the mainstream move to the cloud will only account for 2% of total IT spending this year. Gordon adds, "But, the emergence and adoption of cloud is an important trend, and in some markets, it's already a significant factor." Gartner will release more details and updated projections on the sector straightway week in its webinar, "IT Spending Forecast, 2Q11 Update."

And big name cloud computing interests: Apple, Google, Amazon, Rackspace, Equinix, NetApp.

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