ReleaseWire Connect

A strong economic outlook compared to much of the rest of Western Europe will support relatively robust growth in UK IT spending over the medium term, with a CAGR of 3.1% forecast for 2015-2019. Market development will however be uneven, and we envisage a stagnant hardware market in the short term, while growth will be driven by areas such as the app economy, cloud computing and emerging technologies such as the Internet of Things and Big Data analytics. The overall outlook is brighter than most of Western Europe, but there are significant challenges, for instance outsource spending is already squeezed by fiscal austerity measures, while we point to risks around the UK economic recovery in the context of global uncertainty and the reliance on UK housing as a growth engine. Meanwhile, the failure of high profile public IT projects in recent years has heightened public scepticism about further projects and resulted in much tighter scrutiny of spending.

We expect the majority of our forecast indicators to see a substantial decline over 2015 in the wake of IS' continued targeting of water facilities, and we do not anticipate a full recovery until the end of our forecast period. Should the conflict continue or intensify, with IS destroying facilities as opposed to capturing them, then this poses a significant downside risk to our forecasts.

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Throughout 2016, we expect Belarus to continue to align its security and economy with Russia, even though the former has begun deepening its diplomatic links with Western Europe. We expect defence spending to remain limited over the medium term due to low threats from domestic unrest, terrorism and interstate conflict as well as difficult economic conditions. New procurement will continue to focus on the aerospace segment, in line with the government's stated goal of building up the Belarusian air force. Due to the limited production capabilities of domestic manufacturers, contracts for aircraft and air defence systems will be awarded to foreign companies - predominantly from Russia.

Data that is uncorrelated and does not have a pre-defined data model and is not organized in a pre-defined manner requires special handling and analytics techniques. The common industry term, Big Data, represents unstructured data sets that are large, complex, and prohibitively difficult to process using traditional management tools.