Lewes, DE -- (SBWIRE) -- 11/19/2015 -- Report forecast the global retail banking IT spending market to grow at a CAGR of 4.66% over the period 2014-2019.

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.

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

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.

According to the report, BI software is gaining prominence in the retail banking industry to turn raw data into useful information. Many mid- and low-tier retail banks worldwide have shifted to the usage of BI software while large banks have devoted considerable funding to BI software. It helps banks to gain insights into customer behavior and determine purchasing power. It also supports functions such as reporting, analytics, and data management.

Key players in the Global Retail Banking IT Spending: Dell, HP, IBM and Microsoft

Other Prominent Vendors in the market are: Accenture, Acer, ATOS, Capgemini, CGI, Cisco, Cognizant, CSC, EMC, FIS, Fujitsu, Genpact, HCL, Hitachi, iGATE, Infosys, Intel, JP Morgan, Misys, Netapp, Oracle, Polaris Software Lab, Ramco, SAP, Syntel, TCS, Temenos, Teradata, Unisys, Vmware, Wipro, and WNS.

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?

Spanning over 75 pages "Global Retail Banking IT Spending Market 2015-2019" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by type, Market segmentation by technology, Market segmentation by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

Find more information Visit at: http://www.marketresearchreports.com/technavio/global-retail-banking-it-spending-market-2015-2019

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