Gartner Says IT Spending in the Banking and Securities Industry in the Mature APAC Region to Reach $67.1 Billion in 2017

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.

About Gartner

Gartner, Inc. (NYSE: IT) is the world’s leading information technology research and advisory company. Gartner delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior information technology (IT) leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to supply chain professionals, digital marketing professionals and technology investors, Gartner is the valuable partner to clients in more than 10,000 distinct enterprises. Gartner works with clients to research, analyze and interpret the business of IT within the context of their individual roles. Gartner is headquartered in Stamford, Connecticut, U.S.A., and has almost 9,000 associates, including 1,900 research analysts and consultants, operating in more than 90 countries. For more information, visit www.gartner.com.