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Private and Public Cloud Market in the Financial Services Industry to grow by USD 90.17 billion between 2022 - 2027, Growth Driven by Growing demand for virtually unlimited storage and big data - Technavio
Tuesday, September 19, 2023
NEW YORK, Sept. 11, 2023 /PRNewswire/ -- The Private And Public Cloud Market in the Financial Services Industry report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the private and public cloud market in the financial services industry between 2022 and 2027 is USD 90.17 billion. The growing demand for virtually unlimited storage and big data is a major factor driving the global private and public cloud in the financial services market growth. One of the most data-intensive industries is financial services as they are built on large IT infrastructures that process substantial volumes of data on a daily basis. Additionally, the large volumes of data, the use of different applications and systems, confidential information, and error-prone manual processes prevent financial institutions from gaining a holistic view of the business, related risk exposure, and customers. Hence, such factors drive the market growth of the market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
-- Market Challenge -
Data security and privacy are major challenges impeding the global private and public cloud in the financial services market growth. The financial services industry functions and deals with a substantial amount of confidential client and customer data. Since bank account information, debit or credit card data, and business data for business transactions. Furthermore, the rise in data privacy regulations and potential threats to reputation related to data breaches increase the demand for data privacy policies. Hence, such challenges hinder the growth of the market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read a Sample PDF Report Now
The private and public cloud market in the financial services industry has been segmented by service type (SaaS, IaaS, and PaaS), Deployment (Public cloud and Private cloud) and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
-- The public cloud services segment is significant during the forecast
period. Developing economies such as China, India, Brazil, Indonesia,
and Mexico drive the segment growth, which demands solutions for
business-related insight. Market vendors in the public cloud market in
the financial services industry are providing cloud infrastructure to
organizations in various end-user industries. This helps them conduct
data collection and data analysis to generate meaningful insights into
the business. Hence, such factors drive the growth of the segment
during the forecast period.
-- Geo Segment - North America is estimated to account for 37% of the
global market growth during the forecast period. The adoption of cloud
computing in the region is relatively lower among small businesses than
large enterprises. View the Sample Report for insights into the
contribution of all the segments and regional opportunities in the
report.
Key Companies in the private and public cloud market in the financial services industry:
Accenture Plc, Acumatica Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Eze Castle Integration Inc., Fiserv Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Jack Henry and Associates Inc., Microsoft Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce.com Inc., VMware Inc., Oracle Corp.
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The Cloud Security Solutions Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 8.11% and a CAGR of 15.16% with a market size of USD 8.63 billion during the period of 2021 to 2026. Furthermore, this report extensively covers the cloud security solutions market segmentation by end-user (BFSI, healthcare, retail, government, and others), component (cloud IAM, cloud e-mail security, cloud DLP, cloud IDS/IPS, and cloud SIEM), and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The regulatory requirements encouraging the use of security solutions globally are notably driving the cloud security solutions market growth.
Private And Public Cloud Market In The Financial Services Industry Scope
Report Coverage
Details
Base year 2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR Accelerate at a CAGR of 18.81%
Market growth 2023-2027
USD 90.17 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 16.34
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution North America at 37%
Key countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled Accenture Plc, Acumatica Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Eze Castle
Integration Inc., Fiserv Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd.,
International Business Machines Corp., Jack Henry and Associates Inc., Microsoft Corp., Rackspace Technology Inc., Red Hat
Inc., Salesforce.com Inc., VMware Inc., and Oracle Corp.
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19
impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments
customized.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Service Type
Market Segmentation by Deployment
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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SOURCE Technavio
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