DUBLIN, Nov. 2, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/m5832x/banking_it) has announced the addition of the "Banking IT Spending Market in APEJ 2015-2019" report to their offering.
The banking IT spending market in APEJ to grow at a CAGR of 8.27% over the period 2014-2019.
The report, Banking IT Spending Market in APEJ 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also covers the landscape of the banking IT spending market in APEJ and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
According to the report, many banking companies are investing substantial amount of time and capital on IT risk management systems to identify and mitigate problems such as growing incidences of data theft, hacking, and cyber attacks.
Banking enterprises across APEJ have become increasingly dependent on various advanced technologies, and various IT products and services to run their business and drive revenue growth. This trend is expected to intensify, with the role of IT becoming vital and directly contributing to the organization's agenda.
Banks across the globe are adopting IT solutions to optimize business processes and enhance performance. The implementation of IT in the banking sector has changed the way banks operate. The banking IT spending market in APEJ includes expenditure on IT infrastructure by banks. The market is divided into the Retail Banking, Corporate Banking, And Other Banking Sectors. The banking IT spending market in APEJ is growing at a rapid pace and has the potential for more growth in the future. Several banks are increasing their IT expenditure to.
Lack of awareness about advanced technologies, coupled with growing security concerns, has had an impact on the adoption of advanced technologies among banking firms in APEJ. Emergence of various advanced technologies including social networking, cloud-based services, and big data systems have made businesses more vulnerable to cyber-attacks across APEJ. Notwithstanding the above, many banking firms have started to adopt a variety of technologies as per their needs to enhance overall process efficiency, boost revenue, offer improved services to customers, and improve brand loyalty.
To calculate the market size, the report considers revenue generated through:
The market is divided into the following segments based on end-users:
- Retail banking
- Corporate banking
- Others (including capital markets, dealing, brokerage, and investment banking)
The report also provides a brief overview of various technologies used, such as:
- Cloud computing
- Big data
- Social media
For more information visit http://www.researchandmarkets.com/research/m5832x/banking_it
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SOURCE Research and Markets