Mumbai: Indian banking and securities companies will spend about Rs 41,700 crore on IT products and services in 2013, 13 per cent over 2012 revenues of Rs 36,900 crore.
This includes spending by financial institutions on internal IT services (including personnel), IT services, software, data centre technologies, devices and telecom services, according to a study by research and analyst firm Gartner.
IT services will be the largest segment in the overall spending category at Rs 13,100 crore in 2013.
This is due to a strong focus on the financial services sector by IT services providers, which is growing stronger than other segments at nearly 18 per cent compared with 2012, it said.
Expansion
“The focus on expansion and increasing market share remains a top priority for banks in India. As in other emerging markets, the front office gets preference over the back office in major investments,” said Vittorio D’Orazio, research director at Gartner.
Software next
Software is the second fastest growth segment in spending on pace to increase 17.1 per cent, followed by internal services (that includes IT personnel) at 15.7 per cent.
In the software segment, desktop software and enterprise resource planning (ERP), supply chain management (SCM) and customer relationship management (CRM) will exceed the 20 per cent growth landmark with 22.1 per cent and 21.7 per cent, respectively.
No comments:
Post a Comment