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12:35 PM
Melanie Rodier
Melanie Rodier
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Financial Markets IT Spending To Hit $90 Billion - Or Is It $400 Billion?

Consultancies battle it out with IT growth figures. But is anyone really able to predict spending?

IT consultancy Ovum just predicted that spending on IT by the financial markets industry will hit almost $90 billion by 2015, driven by growth in the Asia-Pacific markets.

But earlier this year, Celent said it expects financial institutions' global IT spending to reach $363.8 billion in 2011, and $393 billion by 2013.

So what's going on with the discrepancy in figures? I mean, $300-plus billion dollars is a pretty big difference. Unless of course, you think the global economy is going to take such a dive that spending is going to tumble by $300 billion (in the two years between 2013 and 2015).

Which begs the question, is anyone really able to predict global IT spending?

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio
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