The Australian Bureau of Statistics has released figures today that show Australia businesses have spent $3.19 billion in computer software the first quarter of 2014, an increase from $2.95 billion in March quarter 2013.
National productivity – measured by GDP/hour – grew 2.2 per cent from the previous year, with the Australian economy growing 3.5 per cent from the March quarter in 2013.
Industry sectors mining, construction, financial and insurance services saw their seasonally adjusted spend estimates rise over the quarter.
Earlier this year, Gartner predicted Australian IT spending would grow to $76.9 billion this year, an increase of 2.54 per cent from 2013. The analyst firm said software will be the highest growth area – spending to increase 6.8 per cent this year to US$320 billion, up from US$300 billion last year.
Last year, IDC predicted Australian ICT spending to reach $49,452.6 million in 2016. IDC Australia vertical markets analyst David So said at the time that the banking, finance and insurance segment is the largest vertical in Australia for ICT spending.