Gartner Says IT Spending in the Banking and Securities Industry in India to Reach $7.8 Billion in 2017

Posted by: at 10/27/2016 01:30:00 am


Banking Trends to Be Discussed At The Upcoming Gartner Symposium/ITxpo, November 15-18, in Goa

Bangalore, India, October 27th , 2016IT spending by banking and securities firms in India will reach $7.8 billion dollars in 2017, an increase of 8.6 percent from 2016, according to Gartner, Inc. This forecast provides total enterprise IT spending for internal spending and spending data on data center, devices, software, IT services and telecom services.

Gartner Says IT Spending in the Banking and Securities Industry in India to Reach $7.8 Billion in 2017


IT services and software will both be the fastest growing segments at 12.6 percent in 2017, as firms in the banking and securities industry invest more in applications and business processes, specifically in business process outsourcing (BPO). The focus is on integrating the digital framework firmly into the banking and securities industry in India.

“The banking and securities industry is increasingly working towards investing in core banking solutions to transform the legacy systems. Additionally, we are also seeing a lot of investment from the banks to leverage digital technologies to enhance the customer facing platforms,” 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, 3Q16 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, devices, software, IT services and telecom services for 43 countries within 11 regions.

About Gartner Symposium/ITxpo
Gartner Symposium/ITxpo is the world's most important gathering of CIOs and senior IT leaders, uniting a global community of CIOs with the tools and strategies to help them lead the next generation of IT and achieve business outcomes. More than 23,000 CIOs, senior business and IT leaders worldwide will gather for the insights they need to ensure that their IT initiatives are key contributors to, and drivers of, their enterprise's success.

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Upcoming dates and locations for Gartner Symposium/ITxpo include:
November 6-10, Barcelona, Spain
November 15-18, Goa, India
February 28-March 2, Dubai, UAE

About Gartner
Gartner, Inc. (NYSE: IT) is the world's leading information technology research and advisory company. The company delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, Gartner is the valuable partner to clients in approximately 10,000 distinct enterprises worldwide. Through the resources of Gartner Research, Gartner Executive Programs, Gartner Consulting and Gartner Events, Gartner works with every client to research, analyze and interpret the business of IT within the context of their individual role. Founded in 1979, Gartner is headquartered in Stamford, Connecticut, USA, and has 8,300 associates, including more than 1,800 research analysts and consultants, and clients in more than 90 countries. For more information, visit www.gartner.com.


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