Recent economic conditions have also helped to create, in many cases out of necessity, a large self-employed and home-based labor force.
The combination of the two has been instrumental in the growth of the SOHO (single office/home office) work environment. That expansion in turn has led In-Stat to forecast that SOHO business technology spending will surpass $17 billion in 2015.
"The overall trend in SOHO spending will see a 20 percent increase over the next five years,” says Greg Potter, Analyst at In-Stat.
According to In-Stat's latest market assessment, there will be pockets of spending in business technology products and segments that are more significant than others.
For example, healthcare and social services, construction, and retail trade market segments will experience the largest overall gains over the forecast period -- each increasing their overall spend by $240 million.
Meanwhile, cloud computing -- as a product category -- continues to experience the largest overall percentage of growth.
Insights from In-Stat's latest market study includes:
- Software as a service (SaaS) spending will increase to almost $800 million by 2015.
- The professional services vertical segment will spend 2.5 billion in 2013.
- Wireless data spending will increase 45 percent from 2010-2015.
- Cloud computing continues to experience the largest growth in terms of percentage, growing roughly 150 percent.