Global ICT spending to top $3.7 trillion this year

KUALA LUMPUR: The global information and communications technology (I.C.T.) market will exceed $3.7 trillion this year and $4 trillion by 2011, according to a study by the World Information Technology and Services Alliance (W.I.T.S.A.).

The report, entitled "Digital Planet 2008", released by W.I.T.S.A. here Tuesday in conjunction with the ongoing 16th World Congress on Information Technology (W.C.I.T. 2008), indicated that slowing economies in developed countries would lead I.C.T. spending into a period of slower growth up to 2011.

However, strong demand last year will spill over into 2008, resulting in an annual growth of 10.3 percent in both years, down from the peak level of 12.3 percent in 2004, W.I.T.S.A. said. Growth in overall I.C.T. spending is projected to decline to 3.6 percent by 2011, it said in a statement.

The semi-annual W.C.I.T. being held at the Kuala Lumpur Convention Centre here brings together several thousand industry leaders in the premier global I.C.T. gathering.

"Global demand for I.C.T. is growing and it remains a lifeline for economic growth across all industries and in all economies," said W.I.T.S.A. chairman George Newstrom.

"It remains critical for the private and public sectors around the world to work together to address the business and policy issues that collectively impact the I.C.T. market. W.I.T.S.A.'s focus on trade policy, Internet governance and other policy priorities is key to meeting our shared goal," he said.