Pharmaceutical Industry Leads In Revenue And IT Spending Growth - InformationWeek
IoT
IoT
Business & Finance
News
11/21/2003
02:32 PM
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%
RELATED EVENTS
Faster, More Effective Response With Threat Intelligence & Orchestration Playboo
Aug 31, 2017
Finding ways to increase speed, accuracy, and efficiency when responding to threats should be the ...Read More>>

Pharmaceutical Industry Leads In Revenue And IT Spending Growth

Meta Group's Worldwide IT Benchmark Report says it was the best at aligning IT and overall operational expense gains this year.

The pharmaceutical industry was the best at aligning IT with overall operational expense gains this year, and it registered the biggest jumps in both revenue (5.39%) and IT spending (11.18%), according to Meta Group's Worldwide IT Benchmark Report 2004. The hospitality and travel sector--hit hard in 2002 by fear of terrorism, business travel cutbacks, and fierce competition from low-cost startups--bit the bullet to take second place in 2003, increasing its IT spending by 10.63%.

But the big increases in tech spending next year, research firm Gartner predicts, will come from manufacturing and insurance companies, with jumps of 12.41% and 12%, respectively. Electronics, food and beverage, and metals and natural-resources companies will boost IT budgets by 8% or more, while health care, IT, and media companies will clock increases in the 5% to 6% range.

Overall, increases in IT spending will triple next year, Meta Group says, from an almost-flat 1.38% to 4.99%.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
IT Strategies to Conquer the Cloud
Chances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll