The market size and forecast of the global IT spending by investment banks until 2019. The market research report includes an in-depth analysis of the emerging trends impacting the leading regions of the market such as the Americas, APAC, and EMEA along with their market shares. The leading vendors analyzed in this market research report include Accenture, Cognizant, Infosys, and TCS.
Technavio has released updated information on the IT spending market, with the publication of its new market research report, global IT spending by investment banks. The IT spending by investment banks is expected to grow at a CAGR of around 4% between 2015 and 2019, primarily driven by changing worldwide regulation compliances.
The Americas dominates the global market with 48% of the total market share, thanks to the region’s financial firms which are leveraging their investments in risk and compliance. However, countries in the Middle East have experienced tremendous growth in offshore application development and software testing activities on account of increasing government support. This trend is likely to impact the overall global spend on application outsourcing services in the future.
Global IT services spending in the investment banking sector is predicted to witness significant growth owing to the high demand for IT services such as consulting and system integration, software and hardware maintenance, and CAD. Several investment banks are implementing BI and analytics software in their transaction services to generate more revenues.
Global IT services spending in investment banking sector 2015-2019
Source: Technavio Research
“Investment banks are increasingly adopting cloud computing technology to build a flexible core banking system, for their improved customer experience related to loan origination, innovative products and services, and credit risk. Cloud technologies help these banks to achieve effective collaboration with their clients through customer-centric approaches through CRM tools. Consequently, banks are able to provide value-added services to customers through product differentiation and quality-oriented services,” says Navin Rajendra, Lead Analyst, IT Services, Technavio Research.
Leading vendors in the global IT spending in investment banking market include Accenture, Cognizant, Infosys, and TCS. Thanks to intensified competition in online finance, a greater role for IT will present a significant opportunity for the leading market vendors over the next four years.
A more detailed analysis is available in the Technavio report, Global IT Spending by Investment Banks – Market Research 2015-2019.
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