Global Bank IT Spending Market: Key Trends and Drivers

Strategic Insights -

The Global Bank IT Spending Market is dominated by four key players: Dell Inc., Hewlett-Packard Co., IBM Corp., and Microsoft Corp. The market is also driven by prominent vendors such as Accenture, ATOS, Capgemini, and others. A key trend in the market is the adoption of big data analytics in banking, which is expected to increase profits by creating more customer-oriented products. Business Intelligence software in retail banking is also a major driver of the market, providing real-time analysis tools to increase productivity and offer insights into customer purchasing behavior.

Key Takeaways:

  • The adoption of big data analytics in banking is a major trend in the Global Bank IT Spending Market, with unstructured data being used to analyze customer spending patterns and increase profits.
  • Business Intelligence software in retail banking is a major driver of the market, offering real-time analysis tools to increase productivity and provide insights into customer purchasing behavior.
  • The use of Business Intelligence software can help streamline core banking operations, including reporting, documentation, and data management.
  • Concern about cyber security is a major challenge facing the Global Banking IT Spending market, with a high presence of hackers attempting to tamper and manipulate data.
  • The study was conducted using a combination of primary and secondary information, including inputs from key participants in the industry.
  • The report provides a comprehensive market and vendor landscape, as well as a SWOT analysis of the key vendors.
  • The major trends and drivers of the market are expected to have a significant impact on the Global Bank IT Spending Market in the coming years.

Statistics:

  • The Global Bank IT Spending Market is expected to be driven by a rise in the use of Business Intelligence software in retail banking, which is expected to increase productivity and provide insights into customer purchasing behavior. (Source: [1])
  • The market is expected to face challenges related to cyber security, with a significant presence of hackers attempting to tamper and manipulate data. (Source: [1])
  • The use of Business Intelligence software can help streamline core banking operations, including reporting, documentation, and data management. (Source: [1])
  • The market is expected to be driven by prominent vendors such as Accenture, ATOS, Capgemini, and others. (Source: [1])

Sources:

  • [1] Market Research Store. Bank IT Spending Market. (May 18, 2015).
  • [2] M2 COMTEX. (May 18, 2015).
  • [3] SmarTrend. (May 14, 2015).