Our team published the quarterly publication – Forecast Analysis: Enterprise IT Spending Across Vertical Industries, Worldwide, 3Q16 Update today. The report presents detailed forecasts for all the vertical industries along with their key highlights and assumptions. Some key takeaways from this update report:
- Brexit is the primary reason for downward revision in growth rates in 2016. There will be spillover effects due to Brexit into next year due to pound taking a hit.
- Retail is leading the way. They are continuing to invest in digital capabilities to better understand their customers.
- Insurance saw the largest change for the third quarter from earlier quarter forecasts.
- Transportation is another bright spot due to initiatives by several players to move towards “smart solutions.”
A brief snapshot into how Brexit is having a significant effect into near-sourcing of operational aspects of banking and securities of software and IT services from the UK into Germany and France. The report covers assumptions and takeaways for all the vertical industries in much greater details.