Celent report: IT spending down in 2009, moderate growth in 2010

Celent expects global IT spending on products and services to grow to $364.5 billion by 2010, a CAGR (compound annual growth rate) of 0.9% from 2008 to 2010. Key findings of the report include: Among all regions, the fastest growth will be in financial services institutions in Asia-Pacific, with IT spending increasing at 8.9% in 2008 and a CAGR of 4.1% from 2008 to 2010; IT spending on banking activities accounts for the largest portion of the total IT spending - nearly 50% - and is

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