Hardware Will Rule In all the major verticals studied no marked departure from the trend to spend nearly half of the IT budget on hardware was observed. But the insurance sector is now seemingly spending less on hardware and therefore the corresponding increase is being seen in software and services. The spending on hardware by the insurance sector stood at 48% in the FY 2002-03 and is expected to fall to 40% in this fiscal. The expenditure on software for the same period has grown from 27 to 30% and that of services from 18 to 22%.

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