IT Spending in Financial Services to Soar

Celent's Jacob Jegher: Overall growth projections indicate a positive trend

Global information technology spending by financial services institutions is expected to reach $363.8 billion in 2011, an increase of 3.7% over 2010, according to a new report by Celent: IT Spending in Financial Services: A Global Perspective.

This growth is substantially higher than the lackluster 2.5% increase experienced during 2010. Growth rates are starting to climb across most regions, and IT products and services should grow to $393 billion by 2013, a CAGR of some 3.9% from 2011 to 2013

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