Albany, NY -- (SBWIRE) -- 06/27/2016 -- 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 organizations agenda.

The banking IT spending market in APEJ to grow at a CAGR of 8.27% over the period 2014-2019. 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.

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The report covers the current scenario and the growth prospects of the banking IT spending market in APEJ for the period of 2015-2019. To calculate the market size, the report considers revenue generated through:
- Hardware
- Software
- Services

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
- Mobility
- Social media

Technavio's 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.

Key vendors
- Fujitsu
- HP
- IBM
- Oracle
- TCS

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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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