Author: Melissa Martin

Market Overview
December, 2009  -  Doc # AU386111S
Number of Pages: 36
Number of Figures: 7

This IDC study focuses on the banking, financial services, and insurance (BFSI) sector in Australia, provides a map of where short- and longer-term opportunities can be found, and highlights purchasing patterns for products/services by market. This IDC study is part of a series of reports focusing on specific vertical markets. It provides actual ICT market sizing and market shares for 2008, along with forecasts for 2008 through 2013, including their five-year compound annual growth rates (CAGRs).

"Despite tight budgets, banks will still be spending on technologies that allow them to blunt the adverse effects of the crisis, build business despite the slowdown, and allow them to operate efficiently in a crisis environment. Strategic initiatives in 2010 should be dominated by operational efficiency, customer centricity, and innovation. The smartest of vendors will shift their strategies, not only by acceding to the cost management drivers of their clients but by changing their approach, service offerings, and delivery models. Furthermore, the global financial crisis will likely shift market shares and bring new market leaders into the fray — perhaps vendors that were targeting other verticals previously but now want to move their competitive strengths to a larger spending vertical market," says Melissa Martin, senior market analyst, IDC Australia.

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Asia/Pacific Banking Advisory Service, Asia/Pacific IT Benchmarking Advisory Service

Asia Pacific (regional research excluding Japan), Australia

Business Areas, Services Provisioning, Insights: Financial, Banking, Capital Markets, Insurance, Vertical Markets, Financial Services