Global Industry Analysts Report IT Industry to Reach $384.4 Billion by 2015

The Global Industry Analysts, Inc. (GIA) provides a collection of statistical anecdotes, market briefs, segmented overview, and concise summaries of research findings. After completing a global analysis of the Software (IT) Industry, GIA determined by 2015, the global market could reach revenues of as much as $384.4 billion.

The software industry can include anything from businesses for development, maintenance, and publication of any software that are using any business mode to new technological gadgets that consume countries. The industry is also known for its development in software services, such as training, documentation, and consulting.

Businesses have begun using the IT market to help stir real-time discussions on up and coming products and services. Jack Dorsey, co-founder of Twitter (News - Alert) and a financial-service upstart company Square, said he uses a lot of social networking during his brainstorm sessions.

“When I release a new product or a new ad campaign…I can get instant feedback about what are thinking and how they react to it. And I can use that feedback to tune and to better my policies or my product or my company, all in real-time,” said Dorsey.

This new form of real-time response has lead companies to use software and technology to stay on top of what their customers are thinking and what they will respond to. Technology is the key to survival for the future.

“All the things we’ve spent the last three or four decades of our lives working on are finally impacting the world and creating the change we’ve wanted since the ‘60s,” said Marc Benioff, CEO of Salesforce.com (News - Alert). “We heard it through the music, and now we’re seeing it through technology.”

GIA said a lot of companies are looking to the cloud for integrating their data in the future. “Cloud computing is expected to continue to reshape the IT marketplace, creating new opportunities for supplies, and catalyzing vital changes in conventional IT offers,” said GIA. “In an era where companies are Internet inspired, the rise of the cloud is no ordinary phenomenon, and vendors in this space are poised to strike against a hidden goldmine.”

After GIA completed their report on the global market, it has determined that with all the new technology, social networking platforms, and the increasing demand for cloud-based computing, the IT industry is on the brink of expanding ranking in possibly more than $300 billion over the next couple of years.