[May 27, 2016]

Growing Demand for Analytics Predicted to Emerge as a Key Trend for the Global IT Spending Market by Industries Through 2020, Says Technavio

Technavio research analysts are forecasting positive growth for many segments of the global IT spending market by industry over the next four years as several related markets, including IT spending in railways, spending in airports, and healthcare supply chain management, will likely witness an increase in revenues.

Globally, railways have augmented spending on IT services like outsourcing, project-oriented services, and support services. This comprehensive market analysis also shows that the services segment is slated to record an impressive 48% of share by 2020. Thus, it is estimated that the services segment will likely emerge as the largest market for railways IT spending during that period.

Technavio's market research analyst predict the EMEA region will emerge as the largest geography for IT spending in railways during the forecast period. Its prospects for growth can be attributed to investments made by many EU governments to develop smart cities in the region. The region is also slated to witness a high demand for analytics as per the forecast.

"Analytics will play a key role in improving railway operations and increase revenues by ensuring better services and end-user satisfaction. Since railway operators use imaging frameworks, sensors, infrastructure testing, and other developing systems to generate high data volumes, the need for analytics to help authorities to take strategic decisions will also increase," said Amit Sharma, one of Technavio's lead analysts for ICT research.

The global airport IT spending arket is extremely concentrated due to the presence of a few large vendors. Since this market is highly concentrated, these vendors are anticipated to make a push for differentiating their products through cost-effective solutions. It is estimated that the demand for operational systems will significantly drive the growth of this market with a lion's share of over 47% during the forecast period.

The global IT spending market will also likely witness some key developments in the healthcare SCM sector. Healthcare SCMs provide services such as labor optimization, financial management, and smooth flow of information throughout the supply chain. Ongoing efforts to implement GS1 standards as a tool to improve healthcare SCM systems will further drive its adoption during the forecast period. Technavio's research analyst predicts the global healthcare SCM market to grow steadily at a CAGR of 10% over the next four years.

View Technavio's entire IT spending report library

Some of the key vendors for the global IT spending market by industries include Accenture (News - Alert), ALTEN, and Altran Technologies for IT spending in railways; Amadeus IT Group, Rockwell Collins, and SITA for IT spending in airports; and Cardinal Health, Cerner (News - Alert), and Mckesson for healthcare SCM.

Browse related reports:

• Global Airport IT Market 2015-2019
• Global Airport Passenger Screening Systems Market 2015-2019
• Global IT Spending by Cab Aggregators: Market Research Report 2015-2019
• Global IT Spending by Audit Firms 2015-2019
• Global Healthcare IT Outsourcing Market 2015-2019
• SaaS-Based SCM Market 2015-2019

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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