The worldwide spending on IT services has risen by 11 per cent last year, according to Gartner, reaching £384 billion.
In addition, HP is closing in on IBM's market share, despite the latter achieving a 7.2 per cent share.
HP's £7.13 billion acquisition of EDS means the new company has a combined market share of 5.3 per cent, resulting in £20.2 billion of revenue.
Kathryn Hale, research vice-president at Gartner said: "This strong growth, combined with strong first quarter results for market leaders, runs counter to the gloomy and widespread economic concerns arising in the United States."
The outsourcing market also increased last year, with the Indian market growing revenues by 38 per cent across the year.
Ms Hale added that "service providers should focus on selling services that will deliver visible return in 2008".
It was recently predicted that IT spending would decrease in the credit crunch, according to IDC.
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