12:35 PM
Financial Markets IT Spending To Hit $90 Billion - Or Is It $400 Billion?
IT consultancy Ovum just predicted that spending on IT by the financial markets industry will hit almost $90 billion by 2015, driven by growth in the Asia-Pacific markets.
But earlier this year, Celent said it expects financial institutions' global IT spending to reach $363.8 billion in 2011, and $393 billion by 2013.
So what's going on with the discrepancy in figures? I mean, $300-plus billion dollars is a pretty big difference. Unless of course, you think the global economy is going to take such a dive that spending is going to tumble by $300 billion (in the two years between 2013 and 2015).
Which begs the question, is anyone really able to predict global IT spending?
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio