Risk IT worth $78.6 billion this year

View of Shanghai, Wikimedia CommonsWorldwide risk information technologies and services spending will amount to $78.6 billion this year, but by 2018 the spend will be as much as $96.3 billion.

That’s according to IDC which said it tracks the spend across banking, capital markets and insurance.

DC said that total IT spend for the worldwide financial services market this year is expected to reach $458.4 billion – that sum including hardware, software, and internal and external IT services.

By 2019, the spend will amount to $522.3 billion.

The risk management sector will amount to around 17.1 percent this year.

IDC said that the capitals market sector spends more on risk technology, and will account for over 24.5 percent of the total IT spend by 2019.

Asia Pacific will grow faster than the North American and European markets.