Worldwide revenues for information technology (IT) products and services are forecast to reach nearly $2.4 trillion in 2017, an increase of 3.5% over 2016, according to IDC. The research group estimates that global IT spending will grow to nearly $2.65 trillion in 2020. This represents a compound annual growth rate (CAGR) of 3.3% for the 2015-2020 forecast period.
Read MoreNew research from Juniper Research (www.juniperresearch.com) forecasts that, by 2021, nearly three billion users will access retail banking services via smartphones, tablets, PCs and smartwatches, up 53% from this year.
The research group finds that usage will continue to rise as consumers increasingly opt for banks offering the convenience of rapid, multi-channel digital services. This means that banks will need to focus on providing a more frictionless digital experience to their customers, especially if they are to remain market leaders.
Read MoreThe worldwide cloud infrastructure services market grew 49% annually, reaching $10.3 billion within the fourth quarter (Q4) of 2016, according to the Canalys (www.canalys.com) research group.
Read MoreGartner, Inc. (www.gartner.com) forecasts that 8.4 billion connected things will be in use worldwide in 2017, up 31% from 2016, and will reach 20.4 billion by 2020. Total spending on endpoints and services will reach almost $2 trillion in 2017, according to the research group.
Global spending via mobile wallets is expected to rise by nearly 32% this year to $1.35 trillion, a new study from Juniper Research (www.juniperresearch.com) has found.
The study found that spending is currently concentrated in the Far East and China, due primarily to the success of Alipay and WeChat. However, the research says that moves by PayPal and Apple to offer wallets that can be used both in-store and online means that wallets will increasingly become the default payment mechanism in other markets.
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