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.
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.
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.
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.
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.
Please Choose One of them.