Tag: IT spending

IT Spending Market by Mobile Payment Service Providers 2016 to grow at a CAGR of 12.26% during the period to 2020

About IT spending by mobile payment service provider

Proliferation of mobile devices has created a market for mobile payments. Mobile payments are transactions that can be carried out using mobile devices such as smartphones. Mobile payments are a revolutionary trend in the digital payments industry and use technology such as NFC for touchless payments. They enable online purchases and payment of bills. The growth of the global mobile payment market has been stimulated by an ever growing m-commerce market and adoption of smartphones, along with the availability of value-added services at affordable costs.

Global IT spending market by mobile payment service providers to grow at a CAGR of 12.26% over the period 2014-2019.

Mobile payment service providers such as PayPal, Mastercard, AmazonPay, and Google Wallet are increasingly investing in IT to enhance their technological capabilities, ensure operational efficiency, and keep pace with a growing customer base. Mobile payment service providers are also acquiring IT players and building in-house capabilities. They are also collaborating with IT players, such as IBM and Oracle, to better understand their customers’ needs and offer customized services using analytics and BI tools.

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Data security is a key concern among mobile payment service providers. These providers gather personal data to customize advertisements and reach the target audience.

They track cookies to gather information. Indiscriminate use of this data can lead to infringement of customers’ privacy. It also leads to concerns about the security of customers’ financial information. However, mobile payment service providers are trying to enhance security of data, and to some extent have changed consumer perception about security of their personal information. Our expects substantial spending on mobile payment solutions from the banking sector. The banking sector is investing in several initiatives including digital banking and digital transformation, mobile banking and payments, security solutions, and analytical solutions.

Covered in this report

This report covers the present scenario and growth prospects of the global IT spending market by mobile payment service providers for the period 2015-2019. To calculate the market size, the report considers revenue generated through sales of hardware, software, and services.

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The report presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the global IT spending market by mobile payment service providers. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

Global IT Spending Market by Mobile Payment Service Providers 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, the Americas, and EMEA. It also covers the landscape of the global IT spending market by mobile payment service providers and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.

Key regions
• Americas

Key vendors
• Amazon Payments
• HP
• MasterCard
• Oracle
• PayPal

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Other prominent vendors
• Accenture
• Apple Pay
• AT&T
• Fujitsu
• Google Pay
• Infosys
• Samsung
• Square
• Verizon
• Wipro

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Technology news shows mobile is still behind serious IT spending

A new Gartner report has shown that smartphones and tablets are still driving these expenses.

According to a recent report that has been issued by Gartner, mobile is still making technology news as a primary driver of global IT spending, but it has also shown that the pace isn’t speeding up quite as much as it had been in previous quarters and years.

The momentum for global IT spending in the mobile environment is starting to ease off.

The Gartner technology news report stated that that the IT spending worldwide remains on pace, having come to a total of $3.7 trillion, so far, in 2014. This represents a healthy 2.1 percent increase over the same time in 2013. That said, the well respected research firm has also noted that this growth rate has decreased when compared to earlier projections which had pegged it at 3.2 percent.

This year’s technology news predictions have diminished as a result of the decrease in expected device growth.

Technology News - Decrease in device growthAlso contributing to the slowing growth in IT spending is a slowing in the expectations for data center systems as well as in IT services, to a certain degree. According to the Gartner managing vice president, Richard Gordon, “Price pressure based on increased competition, lack of product differentiation and the increased availability of viable alternative solutions has had a dampening effect on the short term IT spending outlook.”

That said, Gartner also predicts that it won’t be long before the figures will start to even off and return to spending growth levels that are closer to “normal”. Gordon explained that “However, 2015 through 2018 will see a return to ‘normal’ spending growth levels as pricing and purchasing styles reach a new equilibrium.” He described the current situation in IT as entering into “its third phase of development”, in which it moves on from a focus directly on the tech and the processes of the past in order to look ahead to new forms of business model that have become possible as a result of digitalization.

In 2014, the technology news expectations are that smartphones, tablets, and other devices will still see growth in sales, though not as great as in previous quarters. Now it is believed that the growth over 2013’s figures will be 1.2 percent, to reach $685 billion.