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%.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Join us for a roundup of the top stories on InformationWeek.com for the week of December 14, 2014. Be here for the show and for the incredible Friday Afternoon Conversation that runs beside the program.