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

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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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.

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SOURCE Technavio