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India's IT spending expected to grow 19.5% in 2004: IDC
April 24, 2003 20:57 IST
The Asian information technology market is forecast to grow 7.6 per cent to $77 billion in 2003, but this figure could shrink further due to poor demand from the SARS (Severe Acute Respiratory Syndrome) outbreak, a research firm said on Thursday.
The Asia Pacific ex-Japan IT market is expected to rebound strongly by 11.7 per cent to $86 billion in 2004 after tepid growth this year. The market rose 2.6 per cent to $72 million in 2002, said International Data Corp (Asia Pacific).
"The SARS outbreak is expected to cut Asia Pacific IT growth rates by one to two percentage points," IDC managing director Piyush Singh told an industry conference.
"The SARS outbreak in the region has eroded hopes of rapid economic revival and the IT market outlook for the region remains mired in uncertainty."
IT spending in China and India are expected to drive the market's rebound in 2004, he added.
In 2004, India's IT spending is expected to grow 19.5 per cent, while that of China is forecast to expand 16.9 per cent, IDC said.
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