Global Finance Cloud Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Finance Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global finance cloud market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global finance cloud market size reached US$ 33.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 109.6 Billion by 2028, exhibiting a growth rate (CAGR) of 21% during 2023-2028.
The finance cloud offers a secure and scalable platform for financial institutions and businesses to manage their financial data, applications, and services. It relies on cloud computing technology to provide a flexible and secure environment for financial operations. It allows financial institutions to easily scale their computing resources up or down based on demand, optimizing cost efficiency. It enables individuals to access financial data and applications from anywhere with an internet connection, enhancing mobility and collaboration. It eliminates the need for on-premises infrastructure, reducing hardware and maintenance costs. It helps businesses to expand their operations without the constraints of physical infrastructure easily. It facilitates real-time data analysis for investment decisions, risk assessment, and customer profiling. It is widely used by wealth management firms for portfolio management, financial planning, and client reporting.
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Global Finance Cloud Market Trends and Drivers:
The increasing reliance of individuals on mobile banking services represents one of the primary influencing the market positively. Additionally, innovations in blockchain technology and cryptocurrencies is driving the demand for secure and scalable cloud solutions to support digital asset management, trading, and custody services. The development of cryptocurrencies and decentralized finance (DeFi) platforms is catalyzing the demand for cloud solutions that can handle the unique requirements of blockchain technology. Finance cloud providers are offering tailored solutions for organizations looking to capitalize the opportunities presented by blockchain and cryptocurrencies. Along with this, the growing emphasis on Environmental, Social, and Governance (ESG) investing is reshaping the finance industry. Finance cloud solutions play a vital role in helping financial institutions analyze and manage ESG-related data. Moreover, the increasing usage of artificial intelligence (AI) and machine learning (ML) is bolstering the market growth. Finance cloud platforms provide the computational power and storage needed to train and deploy AI models for tasks like fraud detection, algorithmic trading, and personalized financial advice. Besides this, several finance cloud providers are offering robust application programming interfaces (APIs) that allow financial institutions to integrate with third-party services and fintech applications seamlessly. This promotes innovation and accelerates the development of new financial products and services. They are also investing in robust security measures, such as encryption, identity management, and continuous monitoring. They also maintain compliance certifications, making it easier for institutions to meet regulatory requirements. Apart from this, several financial institutions are forming partnerships with cloud providers to leverage their expertise in finance cloud services. In addition, the expansion of global operations is propelling the demand for cloud solutions that offer low-latency access and international compliance.
Global Finance Cloud Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Acumatica Inc., Amazon Web Services Inc. (Amazon.com Inc.), Aryaka Networks Inc., Capgemini SE, Cerillion, Cisco Systems Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation and Rapidscale Inc. (Cox Business Services LLC) and Salesforce.com Inc.
The report segmented the market on the basis of region, type, deployment model, enterprise size and application.
- Financial Forecasting
- Financial Reporting and Analysis
- Governance, Risk, and Compliance
- Professional Services
- Managed Services
Deployment Model Insights:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Enterprise Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises
- Wealth Management
- Revenue Management
- Account Management
- Customer Relationship Management
- Asset Management
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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