The International Data Corporation (IDC) reports the e-learning market will rise from $1.7 billion in 1999 to over $23 billion by 2004. Despite the eminent recession, IT spending is still set to increase at a faster rate than inflation. “It might sound counterintuitive, but as global economic growth slows, companies will be inclined to spend more on IT to cut costs from their bottom lines”. Michael Brennan senior analyst for IDC’s Corporate e-learning.

The e-learning summit in Brussels in May highlighted that both e-learning revenue and expenditure patterns indicate an increase in the supply and purchase of e-learning materials. The IDC also indicate a continued increase in spending on software and services, which will account for nearly 80% of IT Training revenue by 2004.

Computer Weekly reports users will spend £3.9 billion on e-commerce and £3.3 billion on IT security. E-commerce spend will rise 40% to £5.5 billion in 2002, while IT security will increase 25% to £4.1 billion.