Global Digitization IT Spending - Market Analysis 2015-2019

Published: Nov 2015 Pages: 85 SKU: IRTNTR7137

Market overview of digitization IT spending

The increasing need to improve customer experience and business sustainability has fueled the growth of digitization IT spending market. Digitization helps an organization reduce costs and improve business productivity. The digitization IT spending market is in its nascent stage, and Technavio’s research analyst predicts the market to grow at a rate of 5% during the forecast period.

Businesses and governments globally have realized the potential benefits of digitization in the economic development. For instance, the Chinese government has taken measures like the inclusion of connectivity, cloud, and digitization goals in its 12th five-year plan. Also, the increased availability of affordable digital infrastructure are driving several organizations to spend more on digital technology.

Segmentation by end user and analysis of the digitization IT spending market

  • BFSI
  • Manufacturing
  • Telecommunications
  • Retail/Wholesale
  • Healthcare

The BFSI segment accounted for the largest market share during 2014 and is expected to reach USD 53 billion by the end of the forecast period. As the products and services offered by banks are becoming digitized, this sector is seeing substantial investments in digital capabilities such as social media, mobile payments, and big data analytics. For instance, American Express is leveraging its digital capabilities and assets to improve customer segmentation and provide better offerings to targeted customers.

Geographical segmentation and analysis of the global digitization IT spending market

  • Americas
  • APAC
  • EMEA

The Americas dominate the digitization IT spending market and is expected to reach USD 71 billion by the end of 2019. The increasing availability of abundant skills, affordable technologies, and the favorable government support to develop ICT in Latin America is fuelling the growth of the region. Brazil and Mexico lead the Latin American market while the US and Canada lead the North American market in this region.

Competitive landscape and key vendors

The digitization IT spending market is highly competitive due to the presence of several international and regional providers. Competition in this market is projected to intensify during the forecast period as several IT companies and business consulting firms entering the market.

The leading vendors in the market are -

  • Accenture
  • Capgemini
  • Cognizant
  • IBM
  • Infosys
  • TCS

Other prominent vendors in the market include Adobe, Alcatel-Lucent, Apple, AT&T, Atos, CGI, Cisco, CSC, Dell, Deloitte, EMC, EY, Fujitsu, Google, HCL, HP, iGate, Intel, KPMG, Microsoft, Oracle, PwC, Samsung, SAP, Tech Mahindra, Unisys, Verizon, Wipro, Xerox, and Yahoo.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2019?
  • What are the key factors driving the global digitization IT spending market?
  • What are the key market trends impacting the growth of the digitization IT spending 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 vendors in the global digitization IT spending market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the digitization IT spending market?

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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