A report by industry analyst IDC revealed that businesses' spending on PCs, servers, storage, and network equipment has increased over the past two quarters, resulting in strong growth from the lows recorded in the recession.
In addition, the research predicted that worldwide IT spending will grow by 3.8 per cent in 2010 to reach $1.47 trillion (£1 trillion).
Stephen Minton, vice president of worldwide IT markets and strategies at IDC, commented: 'Just as capital spending on hardware is the first thing to fall in a recession, it's also the first thing to come back up for air when IT budgets are surfacing above water.'
However, Mr Minton added that some firms will be cautious about increasing their investment in IT due to the current economic climate and could hold back on their project-based spending and large contracts.
Earlier this month, technology market analyst Gartner claimed that global enterprise IT spending will increase by 4.1 per cent during the course of 2010.
In addition, the research predicted that worldwide IT spending will grow by 3.8 per cent in 2010 to reach $1.47 trillion (£1 trillion).
Stephen Minton, vice president of worldwide IT markets and strategies at IDC, commented: 'Just as capital spending on hardware is the first thing to fall in a recession, it's also the first thing to come back up for air when IT budgets are surfacing above water.'
However, Mr Minton added that some firms will be cautious about increasing their investment in IT due to the current economic climate and could hold back on their project-based spending and large contracts.
Earlier this month, technology market analyst Gartner claimed that global enterprise IT spending will increase by 4.1 per cent during the course of 2010.
