This IDC Financial Insights Pivot Table provides an updated forecast for European capital markets industry IT spending from 2009 to 2014.
We see the economic recovery under way in Europe, however expect that it will be slow over the next few years. While the industry seems to have fallen back to "business as usual," despite some parts of the EMEA region showing signs of recovery, the picture is less than rosy for the European Union.
Budgets are back to growth, but overall, institutions are preparing to batten down the hatches as risk aversion continues to grow, credit contracts, margins are squeezed, and scrutiny increases. GDP recovery overall is slow, and although out of recession, the IMF forecast for 2011 growth rates is below that of 2010. In particular, Europe is likely to show slow recovery.
The sections that follow offer a brief synopsis of the basic elements of our IT spend forecasts, which are:
- IT spend taxonomy
- Macroeconomic assumptions
- Top-line IT spend figures and trends