At a CAGR of 4.66%, Global Retail Banking IT Spending Market to rise over Forecast period 2015-2019

Albany, NY, Feb 22, 2017: The demand for IT products and services is growing in the banking sector because of a shift in the methodology of performing banking functions. Several banks are increasing their IT expenditure to offer improved services to customers and improve brand loyalty. Apart from spending on core hardware, software, and services, retail banks spend on a number of emerging technologies such as core banking, analytical technologies, internal operations, online banking, mobile banking, and channel management.

Over the past five years, cyber-attacks have significantly increased across the banking domain. During this period, the adoption of cloud computing also grew at a significant pace in the retail banking sector. To safeguard customers, many banks across the globe have started to increase their spending on risk management. It is a top priority for the banking sector to comply with security and confidentiality measures set by IT security regulators for offering services on the cloud.

The global retail banking IT spending market to grow at a CAGR of 4.66% over the period 2014-2019. The report covers the current scenario and the growth prospects of the global retail banking IT spending market for 2015-2019. To calculate the market size, the report considers revenue generated from
- Hardware
- Services
- Software

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The market is divided into the following segments based on technology:
- Analytical technologies
- Channel management
- Core banking
- Internal operations
- Mobile banking
- Online banking

Technavio's report, Global Retail Banking IT Spending Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers America, EMEA, and APAC; it also covers the landscape of the global retail banking IT spending market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Key vendors
- Dell
- HP
- IBM
- Microsoft

Other prominent vendors
- Accenture
- Acer
- ATOS
- Capgemini
- CGI Group
- Cisco Systems
- Cognizant
- CSC
- EMC
- FIS
- Fujitsu
- Genpact
- HCL Technologies

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Key questions answered in this report:-
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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