Web services spending to reach $11bn by 2008

Worldwide spending on software in support of Web services-based projects will reach $11bn by 2008, compared to $1.1bn achieved in 2003, according to a new report from IDC. Driven by the desire to reduce costs, this technology is moving to the forefront of most IT department strategies as a critical option for solving integration issues, IDC argues. Many organizations are also looking to capitalize on what services-based technology offers to address future application needs it says.

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