Packaged software will drive IT spending for Western European CPG companies, says IDC.

0 Comments | M2 Presswire, January, 2006

M2 PRESSWIRE-26 January 2006-IDC: Packaged software will drive IT spending for Western European CPG companies, says IDC(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:26012006 MILAN -- According to a recently published study by IDC's European Vertical Markets group, overall IT spending in the consumer packaged goods (CPG) industry (including both manufacturing and retail) will reach approximately $13.5 billion in 2005 in Western Europe.

IDC foresees a CAGR over the 2005-2009 forecast period of 5, reaching a market value of nearly $16.5 billion by 2009. Highlights of IDC's IT spending forecasts in the CPG industry include: -- Packaged software is expected to drive growth over the forecast period, and it will witness the fastest growth rates, with a 2004-2009 CAGR...