Albany, NY -- (SBWIRE) -- 11/27/2015 -- About retail banking IT spending

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.

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Technavio's analysts forecast the global retail banking IT spending market to grow at a CAGR of 4.66% over the period 2014-2019.

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

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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
Hitachi
iGATE Global Solutions
Infosys
Intel
JP Morgan
Misys
Netapp
Oracle
Polaris Software Lab
Ramco Systems
SAP
Syntel
TCS
Temenos
Teradata
Unisys
Vmware
Wipro Technologies
WNS Global Services

Key market driver
Increased usage of BI software
For a full, detailed list, view our report

Key market challenge
Data security, privacy, and migration issues
For a full, detailed list, view our report

Key market trend
Increased investment in real-time architecture
For a full, detailed list, view our report

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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