Information-technology spending by life-sciences and technology companies is growing fast, according to a study released Monday by market research firm IDC. Spending is growing by about 24 percent a year, and the market should hit $38 billion by 2006, IDC said. Information storage will account for the largest share of the market, at $11.8 billion.
The life-sciences industry, pursuing computation-heavy research into how genetic information can lead to new drugs, also has a strong demand for high-performance servers, IDC said.
Discuss: Biotech to spend lavishly on big iron
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