Lewes, DE -- (SBWIRE) -- 03/23/2016 -- Report forecast the global IT spending by online service and application market to grow at a CAGR of 20% during the period 2016-2020.

The advent of new technologies such as LBS has opened new horizons for end-users and has changed buying behavior of consumers. Retailers are refocusing their business strategies to integrate online and offline media to create a seamless and personalized omnichannel customer experience.

Digital channels significantly influence purchase decisions of consumers. Shoppers use smartphones to read product reviews and compare prices. Increased Internet penetration and improved bandwidth have spurred the use of smartphones, which in turn, is accentuating e-commerce businesses. We expect a boom in online commerce to have a cascading effect on online grocery sales.

Currently, IT vendors provide e-commerce tools with built-in substitution management capabilities to provide alternative options for sold-out products in a bid to mitigate inventory clearance risks. They provide solutions for synchronizing in-store, and an online price variation as pricing for perishable goods is highly volatile. Also, they provide solutions for integrating order management systems with backend systems and analytics tools to streamline online order management.

The report covers the present scenario and the growth prospects of the global IT spending by online service and application market for 2016-2020. To calculate the market size, the report considers the revenue generated from end-users, including OTAs, cab aggregators, e-grocers, food delivery service providers, massive open online course (MOOC) service providers, and infotainment service providers.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, tourists use smartphones, tablets, and connected devices for travel booking, smart assistance, social media postings, and blogging. OTAs provide mobile phone applications to customers for travel management. Widespread adoption of in-app advertisements requires technologies such as Google Ad Word, which results in travel companies to invest in application development software and services. To achieve better customer satisfaction, a large number of enterprises are significantly investing in developing mobile phone features that are user-friendly and offer advanced features.

Further, the report states that a majority of on-demand online service providers employ workers on contract basis such as cab aggregators, food delivery teams, and e-grocers. Over the past three years, cab aggregators are finding it difficult to attract casual workers due to regulatory pressure.

Global IT spending by Online Service and Application Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global IT spending by Online Service and Application Market: Cisco, HP, IBM, and Oracle.

Other Prominent Vendors in the market are: Ciklum, Citrus Pay, CRS Technologies, Demandware, Dolphin Dynamics, eBay-GSI Commerce, eCare Technology Labs, Expert Travel Services, FDS, HubSpot, Hybris, Infosys, JDA Software, Lemax, MapmyIndia, Microsystem, mTrip, NetSuits, PayU, PcVoyages 2000, Qtech Software, Salesforce, Technoheaven Consultancy, TourSys Solutions, Tramada Systems, TravelCarma, Trip Solutions, Web Booking Expert, and Zaakpay.

Market driver
- Accessibility to mobile booking apps
- For a full, detailed list, view our report

Market challenge
- Regulatory and political pressures
- For a full, detailed list, view our report

Market trend
- Adoption of in-app payment systems and integration with digital wallets
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 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?

Spanning over 88 pages and 41 Exhibit "Global IT spending by Online Service and Application Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market segmentation by products, Market segmentation by end-user, Segmentation by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-it-spending-online-service-and-application-market-2016-2020

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