Browse the complete Report on: United Kingdom Information Technology Report Q3 2010
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Market Overview
The UK IT market is the largest in Europe and, despite continued economic uncertainties, is forecast to grow at a compound annual growth rate (CAGR) of 5% over the 2010-2014 period. The addressable domestic market for IT products and services is projected by BMI to reach US$80.2bn in 2010 and US$101.2bn by 2014.
Our overall outlook for UK IT spending in 2010 is one of cautious recovery. The market contracted by around 6% in 2009 due to the economic crisis, which hit business spending and the financial services vertical in particular. In our core IT forecast scenario, IT market growth will be around 4% in 2010. Surveys of UK businesses conducted in early 2010 showed a trend of improved business sentiment and there were also signs of local computer shipments trending up. Government spending remained a bright spot in 2009, but following the UK general election in May, the rate of growth is likely to decelerate sharply due to severe fiscal constraints.
Industry Developments
Uncertainty surrounded the future trend of UK IT spending in 2010 after the general election, which resulted in the formation of a coalition government between the Conservative and Liberal Democrat parties. With the policies of the new coalition administration still unclear at time of writing, UK public sector IT spending seemed likely to decline, due to a climate of fiscal austerity. As a result of stalled decision-making ahead of the election in May, the value of UK public sector IT tenders in Q110 was only one-quarter of the level in the equivalent period of 2009.
Among areas for cuts will be the massive National IT Programme for Health, which has been criticised by opposition parties. Originally expected to cost GBP2.3bn over three years, estimates have put the final cost as high as GBP20bn, indicating a cost overrun of 440-770%.
As of February, government figures revealed around 130,000 laptop applications under the government’s Home Access Scheme. The scheme, introduced in January by the outgoing Labour administration, provides each qualifying family a bank card that can be used for a one-off transaction worth GBP528 to buy the equipment at an approved supplier.
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Original Source : Information Technology Market
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Browse All Business Monitor International Market Research Reports
Market Overview
The UK IT market is the largest in Europe and, despite continued economic uncertainties, is forecast to grow at a compound annual growth rate (CAGR) of 5% over the 2010-2014 period. The addressable domestic market for IT products and services is projected by BMI to reach US$80.2bn in 2010 and US$101.2bn by 2014.
Our overall outlook for UK IT spending in 2010 is one of cautious recovery. The market contracted by around 6% in 2009 due to the economic crisis, which hit business spending and the financial services vertical in particular. In our core IT forecast scenario, IT market growth will be around 4% in 2010. Surveys of UK businesses conducted in early 2010 showed a trend of improved business sentiment and there were also signs of local computer shipments trending up. Government spending remained a bright spot in 2009, but following the UK general election in May, the rate of growth is likely to decelerate sharply due to severe fiscal constraints.
Industry Developments
Uncertainty surrounded the future trend of UK IT spending in 2010 after the general election, which resulted in the formation of a coalition government between the Conservative and Liberal Democrat parties. With the policies of the new coalition administration still unclear at time of writing, UK public sector IT spending seemed likely to decline, due to a climate of fiscal austerity. As a result of stalled decision-making ahead of the election in May, the value of UK public sector IT tenders in Q110 was only one-quarter of the level in the equivalent period of 2009.
Among areas for cuts will be the massive National IT Programme for Health, which has been criticised by opposition parties. Originally expected to cost GBP2.3bn over three years, estimates have put the final cost as high as GBP20bn, indicating a cost overrun of 440-770%.
As of February, government figures revealed around 130,000 laptop applications under the government’s Home Access Scheme. The scheme, introduced in January by the outgoing Labour administration, provides each qualifying family a bank card that can be used for a one-off transaction worth GBP528 to buy the equipment at an approved supplier.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : Information Technology Market
Buy Now : Market Research Report
