Vertical market spending to grow through to 2014

Vertical market spending will continue to grow globally as the worldwide economy continues to emerge from recession. According to Gartner numbers resellers that sell into vertical markets should find the spending continues with most areas predicted to produce increases in spending of between 2% and

Vertical market spending will continue to grow globally as the worldwide economy continues to emerge from recession.

According to Gartner numbers resellers that sell into vertical markets should find the spending continues with most areas predicted to produce increases in spending of between 2% and 6% this year.

The banking sector along with communications, media and services will experience the biggest growth over the next four years with manufacturing and wholesale trade producing the weakest performance between now and 2014.

But in terms of comparisons between this year and last the highest growth vertical globally is national and international government with a 6.2% increase, followed by retail (4.7%) and banking and securities (4.6%).

Gartner is advising resellers to carry on with their business plans expecting a 4.1% annual growth rate but makes the warning that a double-dip recession might emerge because of economic uncertainties.

"Vendors should convert to a growth market strategy and allocate business development resources to maximize long-term industry growth opportunities," said Gartner research director Kenneth Brant.

"However, we recommend that they continue to promote the value of solutions that deliver 'cost optimisation' in 2010 and 2011, which we believe will be a persistent value for IT buyers even as markets return to growth," he added.

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