- The key vendors in the Global Application Outsourcing Market in Banking Sector are Accenture plc, Computer Sciences Corp., Hewlett-Packard Co. and IBM Corp.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Application Outsourcing Market in Banking Sector 2014-2018. The most prominent trend in the market is the increased usage of technology in retail banking because of the rise in the number of mobile devices. Banks are increasingly adopting new application portfolios to manage their information by using analytics to target the customers. The Global Application Outsourcing market in the Banking sector is expected to grow at a CAGR of 4.77 percent during 2013-2018.
Application outsourcing involves a client organization utilizing an external provider for a wide variety of application services including new application development, maintenance, and management of packaged applications. It helps an organization to lower TCO and expand its geographical reach while leveraging technology.
“Increased adoption of cost-efficient and innovative models is one of the major market drivers. Banks are aggressively adopting cost-saving models to help them reduce the technological risk associated with banking channels, CRM, and transaction processes,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
