The UK IT market continues to grow despite the global financial downturn, according to a European market research institute.

UK will see a 1.4% rise in the value of its IT market this year to £59.3 billion. The software and IT services sectors, set to be worth £9.1 billion and £36.6 billion, are expecting the largest proportion of growth at 4.4% and 5% respectively. Spending on IT in the UK is set to increase from £57.3 billion to £59.3 billion. 

Carrie Hartnell, Transformational Business Programme Manager at Intellect said:
"The UK IT market is showing robust growth figures even in this uncertain economic period.  What we’re seeing in the UK is matched by trends in other markets across the world. In 1992 businesses were looking to cut their IT budgets in the face of an economic downturn, but in 2008 we are seeing a shift in attitude towards IT as indicated by the growth in the software and IT services sector. Rather than making across-the-board cuts, companies are now using IT to reduce the costs of running their businesses or to increase efficiencies."

John Higgins, Director General of Intellect commented: "The technology industry enables other sectors of the economy to deliver a better performance in a time of belt tightening. Businesses are realising that technology-enabled processes can be a lifejacket in choppy waters, not a weight around their ankles."