IT spending by banking and securities firms in the mature Asia/Pacific region will reach $67.1 billion in 2017, an increase of 5.4 percent from 2016, according to Gartner, Inc. This forecast provides total enterprise IT spending for internal spending and spending data on data center systems, devices, software, IT services and telecom services.
Gartner said the mature Asia/Pacific region consists of the following countries: Australia, Japan, New Zealand, Singapore and South Korea. In US dollar terms, Japan is the largest market, but New Zealand will have the highest growth rate in 2017 at 6.4 percent, followed by Japan at 5.6 percent.
The software segment will grow the fastest at 8.5 percent in 2017, as firms in the banking and securities industry invest more in applications, infrastructure and vertical-specific software. Applications is growing the fastest in this category contributing 12.4 percent growth in 2017.
"The banking and securities industry is focused on investing in advanced data and analytics, as new tools like artificial intelligence are becoming popular in this industry," said Moutusi Sau, principal research analyst at Gartner.
Further information on banking and securities industry IT spending is available in the Gartner report: "Forecast: Enterprise IT Spending for the Banking and Securities Market, Worldwide, 2014-2020, 4Q16 Update". The banking and securities industry forecast provides total enterprise IT spending, including internal spending and multiple lines of detail surrounding spending on data center systems, devices, software, IT services and telecom services for 43 countries within 11 regions.
Gartner, Inc. (NYSE: IT), is the world's leading research and advisory company and a member of the S&P 500. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities and build the successful organizations of tomorrow.
Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We're trusted as an objective resource and critical partner by more than 15,000 organizations in more than 100 countries—across all major functions, in every industry and enterprise size.
To learn more about how we help decision makers fuel the future of business, visit www.gartner.com.
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.