e-Government and other ICT initiatives in the Asian region will drive public sector spending to over US$31 billion by the end of the decade, according to research company IDC.
Government spending on ICT in the Asia-Pacific region, excluding Japan, is expected to grow at a five-year compound annual growth rate (CAGR) of 8.7 percent to reach US$31.7 billion by 2010, from US$22.7 billion this year. According to Victor Lim, IDC's Asia-Pacific vice president for business development (verticals), emerging economies such as China and India will be 'huge drivers of IT spending' over the next few years, as these countries build up their ICT infrastructure. With a CAGR of 12.3 percent, the Chinese public sector market is expected to be worth US$11.7 billion in 2010, up from US$6.5 billion in 2006. By 2010, the country will account for 36.9 percent of the region's public sector IT spend, up from the current 28.6 percent. India and Vietnam are expected to have the fastest growing government IT spend, with a CAGR of over 16 percent each, during the forecast period. Hong Kong, Singapore and Taiwan are expected to grow at more modest rates of 3 percent to 5 percent until 2010.
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