Information technology (IT) spending outperformed the country's overall economic performance. Total IT spending in US$ terms grew by an estimated 5.6% in 2011 after a contraction of around 0.2% in 2010. The Economist Intelligence Unit expects it to contract sharply in 2012 (by around 6.1%) amid the recession and experience only modest growth on average in 2013-14.
Total IT spending will recover more strongly in 2015-16, driven by stronger demand for the latest electronic gadgets, software and services. Demand for laptop personal computers, personal digital assistants and smartphones will be particularly strong, boosted by lower prices and the increasing availability of broadband Internet access and wireless networking. However, the IT market will only reach its 2008 size by 2016.
Industry List: Hardware, Telecoms and Technology, Internet, Telecoms and Technology, Software, Telecoms and Technology, Telecoms and Technology, Telecoms, Telecoms and Technology
Industry Codes (NAIC): 517
Industry Codes (SIC): 48
Market data at a glance
Telecoms and technology report
Telecoms and technology report: Overview
Telecoms and technology report: Telecoms
Telecoms and technology report: Internet
Telecoms and technology report: Hardware
Telecoms and technology report: Software