Launch of FinancialServicesViews

Today, TechMarketView is pleased to announce the launch of FinancialServicesViews, its research stream dedicated to the coverage of the Software and IT Services (SITS) market in the UK Banking, Financial Markets and Insurance businesses. The research stream is led by Research Director, Peter Roe and builds on the established capability of the wider TechMarketView team, viewing their analysis through the lens of the Financial Services sector.

As a group, Financial Services organisations are the largest SITS buyer within the UK private sector, accounting for around a quarter of the market, or £9.8bn of annual revenue. The sector is also the most dynamic as many sector companies seek to use technology to generate competitive advantage and faster profits growth. After a period of turmoil following the Financial Crash of 2008, TechMarketView forecasts a growth rate of 3.8% per year to 2016, significantly ahead of the total SITS market and of the wider private sector SITS market.

Today TechMarketView publishes one of the core reports from FinancialServicesViews: UK Financial Services SITS: Market Trends and Forecasts. The report presents a heat map of SITS activity, identifying key areas for investment and focus. Currently, the key areas for sector spending are currently dealing with regulatory change, updating legacy systems and looking for cost reduction and flexibility through the greater use of Cloud Services. The report also describes the key issues and outlook for each of the Banking, Financial Markets and Insurance subsectors and across the major sub-divisions of the SITS market.

The outlook for the sector is exciting as the larger companies reduce their dependence on in-house IT in the face of intense competition and greater regulation. This could add a further £1bn to the addressable market for SITS vendors over the next 5-10 years. To find out how to benefit from the growth in the market, subscribers can download the latest report here.

In addition to the Market Trends report, subscribers to FinancialServicesViews will receive reports on the Supplier Landscape (due later this year) as well as a series of notes focussed on key sector topics. To subscribe, or to find out more, please look at our FinancialServicesViews web page, or contact Deb Seth of TechMarketView Client Services.

Posted by Peter Roe at '09:22'