Global IT Spend to Rise 3% in 2010
Global information technology spending by financial services institutions is expected to reach US$357.4bn in 2010, an increase of 2.9% over 2009. This figure is substantially higher than the 2.5% decline in growth experienced in 2009. Although 2010 will be challenging, global spending on IT products and services should grow to US$393.5bn by 2012, a 4.9% CAGR from 2010 to 2012, according to a new report, IT Spending in Financial Services: A Global Perspective, from Celent, a Boston-based financial research and consulting firm.
Key findings of the report include: