Vertical IT Down But Not Out

Vertical IT Down But Not Out

Vertical IT down but not outBy Steve Wexler

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Gartner has released new data on what’s happening globally in the vertical IT markets.Sales will be down in 2009 but they are predicting growth in 2010. Channel Insider takes a closer look at what’s hot and what’s not.

IT sales to hit $2.28 trillion

Industry vertical market IT spending will be down 6.8 percent from 2008.

Market growth to return in 2010

Spending will grow 2.3 percent to $2.34 trillion next year.

Financial services to drop

Representing the largest vertical segment, financial services will fall 8.3 percent, to lead with $502.6 billion in 2009.

The biggest decline

Agriculture, mining and construction market will experience the steepest decline, 9.2 percent, to $25.4 billion.

Government shows slowest fall

National and international government industry, the third largest segment at $239.4 billion, will show the slowest decline, decreasing 3.6 percent.

Communications comes in fourth

Expected to drop 6.1 percent to $201.8 billion in 2009, communications is the fourth largest segment.

Manufacturing takes heavy hit

Rounding out the top five, discrete manufacturing, the second largest segment, will also show the second biggest drop, down 8.5 percent to $269.6 billion.