Aite Group expects the U.S. securities & investments industry to spend US$26.4 billion in 2005, representing a modest 2.7% increase from 2004.
Boston, MA, January 26, 2005 – According to a new report from Aite Group, LLC, the U.S. securities & investments industry is looking at a modest increase in IT spending in 2005. However, driven by the need to finally tackle enterprise-wide projects (e.g., data management, risk management, compliance with regulations, etc.), Aite Group expects to see the pace of IT spending increasing each year, reaching close to US$30 billion by the end of 2008, exhibiting a CAGR of approximately 4% from 2005 to 2008.
According to Sang Lee, Managing Partner of Aite Group and the author of the report, “If we were to view 2004 as the turning point, during which a foundation was made for a new phase of sustained growth, 2005 can be seen as a new beginning for the industry as it tries to recapture the glory of the late 1990’s.”
The report provides various IT spending projections based on internal vs. external, business group functions, and asset classes broken down by front-, middle-, and back-office operations.
This is a 24-page Impact Report. Clients of Aite Group's Institutional Securities and Wealth Management services can download the report.