Research and Markets: IT Market in BRIC to Grow at a CAGR of 14.1 Percent over the Period 2011-2015 Says Latest Study on the Subject
Research and Markets (http://www.researchandmarkets.com/research/ppzrbk/it_market_in_bric) has announced the addition of the "IT Market in BRIC 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the increasing IT spending in BRIC. The IT market in BRIC market has also been witnessing increasing IT spending by Banking sector. However increasing software piracy could pose a challenge to the growth of this market.
Commenting on the report, an analyst from TechNavio's IT Services team said; The Banking sector in BRIC has considerably increased its IT spending. Increased customer demand for ease in transactions has increased the technology innovations in banks. In Brazil, the Banco do Brazil, the government-owned bank, has increased its investment in IT tremendously in 2009. In Russia, the investment in IT in the Banking sector is expected to increase in the next few years. In India, the IT Software segment is highly dependent on the Banking sector because it is the largest user of software products in the domestic market. China is confident about its IT spending in the Banking sector because there is an increasing demand for enhancing the information management infrastructure. Thus, rapid technological innovations in all the major types of banks such as retail banks and corporate banks are expected to contribute to the growth of the market during the forecast period.
According to the report, the Software segment in BRIC is in its growth phase and is expected to post a double-digit growth rate during the forecast years. The increasing demand for software in various sectors will help sustain the growth of the Software segment in the next few years. Despite the high level of piracy rate, the Software segment in Brazil posted a positive growth rate. There is an increased for software demand in the Manufacturing sectors; and the SMBs in Brazil are expected to increasingly adopt enterprise application software over the next few years.
Further, the report also discusses that the increasing concerns regarding project scoping is a major challenge for the IT market in BRIC.
- Digital China Holdings
- Hewlett Packard
- Huawei Technologies
- Lenovo Group
For more information visit http://www.researchandmarkets.com/research/ppzrbk/it_market_in_bric