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Finance Cloud Market (Type - Solution, and Service; Application - Revenue Management, Wealth Management System, Account Management, Customer Management, and Others; Deployment Mode - Public Cloud, Private Cloud, and Hybrid Cloud; Industry - Banking and Financial Services, and Insurance): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : ICT00282

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the finance cloud market provides in-depth analysis of segments and sub-segments in the global as well as regional finance cloud market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional finance cloud market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global finance cloud market. According to the report, the global finance cloud market is projected to grow at a CAGR of 25.03% over the forecast period of 2021-2027.

 

Market Insight

The finance cloud market was valued at USD 29.32 billion in 2021 and is expected to reach USD 112.03 billion by 2027 it is anticipated to grow at a CAGR of 25.03% during the forecast period. Customers’ interactions and expectations have evolved considerably in recent years, with a greater emphasis on immediacy and personalization. This new scenario applies to virtually every interaction of customers with their environment, and financial services providers are no exception. Cloud services offer financial institutions the option to move from a capital-intensive approach to a more flexible business model.

 

Providing remote work capabilities for employees during COVID as well as scaling secure and reliable IT infrastructure without incurring significant costs has been a significant priority for many financial institutions. Especially during the COVID period. Cloud technologies provide additional compute and analytics capabilities, and support compute-intensive workloads securely and at scale. Financial institutions (FIs) need to adopt and actively utilize new technologies to meet such customer expectations, transforming their businesses and developing the new capabilities to become more efficient and generate more value for customers. In this context, cloud computing is an increasingly critical element of the financial system, as the technology enabler that underpins the changes that banks and other financial institutions need to pursue. Cloud can help firms expedite processes, reduce risks and increase efficiency, as well as enhancing the ability to identify business opportunities and revenue streams, being a core element to positively impact customers through more personalized proposals, at better prices through safer and less risky operations. benefits of cloud computing are significant: a move to the cloud can enable financial institutions to innovate and deliver new products and services to market more quickly, while also increasing their security and operational resiliency. In addition, the use of cloud computing can facilitate data analytics at a massive scale, improving risk management and opening new regulatory frontiers. To cope with increasing IT demands and in order to offer better and more innovative remote and mobile services to clients, financial institutions have begun to turn from proprietary IT infrastructure to the cloud, using cloud services to support a variety of functions ranging, Hence, increased need for customer management is driving the growth of the finance cloud market. Furthermore, growing demand for security and resiliency in financial operation provides a growing demand for the market. It can also be more secure and resilient than traditional platforms. Financial institutions have historically used a mix of technology infrastructures, each typically designed to support a particular set of applications at a given point in time. increase in the concern over regulatory compliances and rise in the protection of intellectual property rights (IPR) is the major factor among others acting as a restrain for the market. Moreover, government initiatives to digitize financial operations will provide a significant growth opportunity for the market.

 

North America holds the largest market shares in the finance cloud market. A growing internet penetration rate and a strong economy have contributed to the shift toward the finance cloud in the region. A  low IT management complexity, improved agility, and security are some of the major driving factors contributing to the growth of cloud computing in North America. Asia Pacific is growing with a healthy CAGR. An increase in the need for customer management and an increase in digitalization in this region are driving the growth of the market in this region.

 

Segment Covered

The report on the global finance cloud market covers segments such as type, application, deployment mode, and industry. On the basis of type, the sub-markets include solution, and service. On the basis of application, the sub-markets include revenue management, wealth management system, account management, customer management, and others. On the basis of deployment mode, the sub-markets include public cloud, private cloud, and hybrid cloud. On the basis of industry, the sub-markets include banking and financial services, and insurance.

 

Finance Cloud Market



Companies Profiled:

The report provides profiles of the companies in the market such as Oracle Corporation, Amazon Web Services, Microsoft Corporation, SAP SE, IBM Corporation, Salesforce.Com, Inc, Huawei Technologies Co., Ltd, Capgemini, Google, Inc, and Others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the finance cloud market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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