Wednesday 25 January 2023

*NEW RESEARCH* UK Financial Services SITS - Market Outlook Update

TechMarketView recently revised its forecast for SITS expenditure within UK financial services. We have tracked the financial reporting of SITS vendors, monitored major contract awards and engaged in discussions with a variety of industry stakeholders. The hard data that has been fed into our forecasting model indicates that sentiment has improved since our previous detailed analysis was published (in June 2022).

Subscribers to FinancialServicesViews can download UK Financial Services SITS - Market Outlook Update now. Our latest forecasts indicate that total SITS spend by Financial Services companies in the UK exceeded £16bn in 2022. By the end of 2025 the market is now expected to reach £19.4bn. Overall, this revised figure represents an uplift of £712m on the previous forecast for 2025.

FSV Market UpdateIn light of the historically high level of inflation currently impacting the UK economy, we have also provided our headline statistics net of RPI growth (using 2021 as a base). Shown alongside the bare forecasts these "Real-Terms" metrics help to put the market’s growth into better context.

If you are not already a subscriber to FinancialServicesViews but would like to gain access to this research, or any other of our material, please contact Deb Seth for more information.

Posted by Jon C Davies at '07:07' - Tagged: insurance   banking   financialmarkets   wealthmanagement   financial+services