IT spending across the world has recovered well following the economic crisis, with many organizations catching up with upgrading important hardware infrastructure.
According to data released by the International Data Corporation (IDC), spending on PCs, servers, storage and network equipment soared in recent quarters, producing strong year-on-year growth.
Furthermore, the group has predicted that expenditure is to continue to rise, with another 3.8 per cent increase expected over the course of the year.
"IT spending growth in the US and emerging markets has been strong during the past two quarters," said Stephen Minton, vice president of worldwide IT markets and strategies at IDC.
"Just as capital spending on hardware is the first thing to fall in a recession, it's also the first thing to come back up for air when IT budgets are surfacing above water."
More than three-quarters of top financial services firms intend to increase spending on projects that address data quality and consistency issues, a recent survey by Lepus and Thomson Reuters has found.
Posted by Richard Jones