The IDC research group (www.idc.com) the business technology spending market will grow at 6.9% 5 year CAGR [compound annual growth rate] from US$236.6 billion in 2012 to $330.7 billion by 2017, while enterprise IT grows slowly at a 1.9% 5 year CAGR from $213.0 billion to 233.5 billion over the same forecast period.
Business funded technology is expected to reach $275.2 billion in 2014, accounting for 55% of total technology spending. Industry specific operation is the largest business line, capturing approximately 45% of total business funded technology in 2014, says IDC.
Enterprise IT spending is growing only at a 1.8% 5 year CAGR, far below the overall five-year technology CAGR of 4.6%. Only healthcare enterprise IT is growing faster (than overall technology spending.
Marketing is the fastest growing functional area, growing at a five-year CAGR of 9.5%, reaching nearly $26 billion by 2017, according to IDC...| Read more »