SME IT spending to reach $874bn in 2012

SMB World Asia reports.

Throughout the forecast period, mid-sized business IT spending outperforms other sectors in each of the next five years, driven by growth in spending on enterprise software.

According to Gartner, the SME market represents approximately a quarter of all enterprise IT spending.

The global spending on IT products and services is expected to reach $3.7 trillion this year, a 2.5% increase from 2011, TechGoondu writes.

The new forecast marks a decline from Gartner's previous estimate of 3.7% growth in IT spending for 2012. The tech analyst firm attributed the lower growth rate to the recent strengthening of the US dollar against other currencies, rather than lower IT spending.

In fact, if US currency exchange rates remain constant, IT spending is set to increase 5.2% in 2012, up from Gartner's earlier projection of 4.6%.

Focus Taiwan notes that the worldwide telecoms equipment market is forecast to show the strongest growth, with spend.

The continued health of the mobile devices market as well as a more positive outlook for enterprise network equipment, both resulted in the strong growth, said Gartner.