The market size and forecast of the global IT spending by investment banks until 2019.
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The 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.
Research scope and outlook of IT spending by investment banks
The global IT spending in investment banking is primarily driven by changing worldwide regulation compliances.
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To calculate the overall market spend on IT by investment banks, this report considers revenues generated from the sale of servers and storage, and networking equipment under the hardware segment. Under the software segment, application software and infrastructure software are taken into account while process management, hardware and software support are covered in the IT services segment.
Global IT services spending in investment banking sector
Publisher's market research analysts estimate the global IT services spending in the investment banking sector to be a little over USD 41 billion in revenues in 2014. The market is witnessing a surge in the demand for cloud computing with investment banks shifting to a more customer-driven environment.
The implementation of cloud technology has significantly improved banking standards and helped investment banks gauge the client's perspective. This shift towards the adoption of cloud technology presents a significant cost implication in the migration process from legacy systems.
It is expected to emerge as a decisive factor impacting the growth of the leading players during the forecast period.
Geographical segmentation of the global IT spending by investment bank market
Publisher market research analysts have observed that European banks, particularly the ones in Western Europe are reluctant to invest further on banking IT infrastructure development because of the ongoing Eurozone crisis. Investment banks in Europe are most likely to focus more on cost reduction over the next four years.
However, countries in the Middle East have experienced tremendous growth in offshore application development and software testing activity on account of increasing government support. This trend is likely to impact the overall global spend on application outsourcing services in the future.
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Competitive landscape of the IT spending market by investment banks
Large investment banks such as J P Morgan, Goldman Sachs, Morgan Stanley, Merrill Lynch, and others like Deutsche Bank, Citigroup, and Credit Suisse First Boston are likely to scale up their IT spend during the forecast period. 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.
The other prominent vendors of the market include Aegis, BCS Financial Group, Capco, Capgemini , Datatec, Dion, EMC , Genpact, idhasoft, informatica, KKR, Netapp, Oracle, Polaris, SAP, Symantec, TCS, TIBCO Software, T-Systems, Verizon, and Wipro.
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