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The amount of money spent on IT in 2013 has dipped to its lowest level of growth since the financial crisis, but will pick up next year, according to a new report.

International Data Corporation's Worldwide Black Book has stated that the increase in spending on technology this year is on course to be just four per cent year-on-year, at about $2.04 trillion (£1.27 trillion). This is down from the five per cent seen last year and the report claims this is a result mainly of lower spending in key emerging markets like Russia and China, although the latter country will bounce back next year.

IT Spending Set For Rise After 2013 Dip

Europe, including the UK, was highlighted in the report as one of the regions where spending levels have stabilised this year, along with Japan. The spending level was less than the global average, up by two per cent – or just one per cent if phones are discounted. However, this figure is better than last year and is expected to increase as various economies are showing signs of strengthening economic growth.

Vice president of IDC's Global Technology & Industry Research Organization Stephen Minton said: "The gradual turnaround in Europe is restoring business confidence, leading to a strengthening of our assumption that next year will be better than this year for most IT vendors."

Increased IT spending may need to be two-fold, as it could enable expanding companies in a growing economy to create more data, which in turn will increase the need for means to store it safely, something that may be best accomplished by remote hosting solutions provided off-site. This may be supplemented by the conversion via microfiching and similar means of paper documentation into electronic form.

As well as providing off-site backup that can aid security and disaster recovery, it will also free up office space, which may be an important consideration if expansion means a company takes on more staff.

The UK may see the strongest business growth and investment of any advanced economy after a new survey showed confidence is at its highest in a decade

According to the latest ICAEW/Grant Thornton UK Business Confidence Monitor, this positive sentiment is helping steer investment and growth and it tipped Britain to see gross domestic product rising by 1.3 per cent in the final quarter of the year.

Storetec News/Blogs."http://www.storetec.net/news-blog/it-spending-set-for-rise-after-2013-dip/". IT Spending Set For Rise

After 2013 Dip. November 7, 2013. Storetec.