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London (pte033/10.04.2003/13:13) - The western European IT market may soon bounce back, predicts a new study by market researchers IDC http://www.idc.com .
Analysts believe the IT business reached its lowest point last year, and may grow by up to two per cent in 2003. They predict the upswing will be driven by software and services; the hardware market is expected to improve next year.
According to IDC estimates, the software market may grow by 3.3 per cent and 2.5 per cent more turnover is expected in IT services.
While the weak economy and cost-cutting will still affect the western European IT market, ICD analyst Vicky Hawksworth said she nevertheless saw some hope for recovery, especially in the field of mobile and wireless solutions. She expects the market to be consolidated in the first half of the year.
Upgrades in infrastructure will be mainly responsible for growth and new acquisitions will have less importance. The main priority of companies is still to return to profits and reduce costs, said IDC analyst Elsa Opitz.
IDC based its latest prognosis on a short war in Iraq. A longer war could put an end to the positive forecast.
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