Financial Cloud Market Research Report Information, By Component (Solutions and Services), Cloud Type (Public Cloud and Private Cloud), Organization Size, Sub-industry (banking and financial services, and insurance) — Global Forecast till 2027
ID: MRFR/ICT/6023-HCR | February 2021 | Region: Global | 100 pages
Financial Cloud Market Overview
In the year 2018, the Financial Cloud Market was valued at USD 16.55 Billion in the year 2018. It is projected that the market will further expand and reach around USD 52 Billion by the end of the forecast period 2021-2028. The market is projected to grow at a CAGR of 24% as per MRFR Analysis. Some important growing factors such as growing demand among enterprises to establish a strong relationship with customers. With the help of customization and advanced IT solutions, it will help manage the financial data of customers.
Especially in the banking and financial sector, the financial clouds are essential to managing the data of customers. The main purpose of the financial cloud is to provide an enhanced experience to the customers to enhance the engagement between clients. The growing Financial Cloud Market Trends will boost the market in the upcoming period.
Also, the North American region will hold the largest market share during the forecast period. It comprises several beneficial factors that are required for the Financial Cloud Industry to bloom such as well infrastructure, advanced technologies, investments, and many more.
Even several government organizations in various countries are also adopting financial cloud services. They are using this facility for conducting important government tasks such as passports, ID issuance, citizen records, and many more. Thus, the private organizations will have increasing demand and escalate the Financial Cloud Business at a substantial rate during the forecast period.
COVID-19 Analysis
The increase in the COVID-19 cases resulted in huge havoc and affected almost all industries. The hospitals and other healthcare sectors focused upon the development of healthcare facilities. To keep up with the data of customers and enhance work efficiency, the demand of the financial cloud market soared up among the various sectors. As a result, even after the drastic impact of the pandemic, the industries began to stand back.
Market Dynamics
Market Drivers
The Financial Cloud Market will propel in the upcoming years of the forecast period. It is because of the efficient operational facility and demand for better solutions among the financial institutions. These factors are the major drivers of the market that will increase the value and promote its growth. Also, several key players are coming up with advanced solutions that are fuelling the Financial Cloud Business.
Restraints
The huge adoption of financial clouds will lead to huge growth. But the high costs and low availability of experts for use and maintenance especially among the SMEs will act as a restraining factor. It will take some time for several enterprises to manage and complex data. Along with that, rapid updates of new software will create confusion that will also lead to slower Financial Cloud Market Growth.
Opportunities
The Financial cloud is predicted to have a great future for providing several opportunities for the customers. It helps to manage the wealth and accounts with hassle-free solutions. The demand for IT solutions in the banking sector, healthcare facilities, educational sectors, etc. will also increase work efficiency and save huge time. Hence, the Financial Cloud Industry will further flourish due to its increased network, cost-effectiveness, business agility, and many others.
Challenges
A crucial factor that will pose a huge challenge for the Global Financial Cloud Market is the low awareness of advanced solutions among several geographical areas. Also, several industries don't have reliable systems that can handle the highly advanced system. Even after installation, the lack of knowledge and skilled professionals can be challenging for the market to grow.
Cumulative Analysis
With rapid demand for effective solutions to manage the financial data among several providers and investments by the key players are fuelling the market growth. The Compound Annual Growth Rate (CAGR) of the Financial Cloud Market is estimated to reach 24% according to MRFR analysis. The market value will also expand and touch up to USD 52 Billion during the forecast period 20212-2028.
Value Chain Analysis
There are various factors that will lead to huge Financial Cloud Market Profit during the forecast period. As it is mentioned above, the demand of the market will increase by the passing year then, the value will increase simultaneously. Also, the advanced technologies and several supporting factors such as investments by key players will touch new heights.
Market Segmentations
The Financial Cloud Market Segments is divided into cloud type, sub-industry, organization size, and component. On the basis of organization, the market is divided into Medium-Sized Enterprises, Large Enterprises, and Small Sized Enterprises
On the basis of components, the Financial Cloud Industry is again segmented into services and solutions. The solution segment is divided into Wealth Management, Customer Management, Analytics Security and Financial Forecasting and Others
On the basis of cloud type, the Financial Cloud Business is classified into Public Cloud and Private Cloud.
Based upon sub-industry, the Financial Cloud Market is bifurcated into Banking and Financial Services and Insurance.
Regional Analysis
On the basis of geographical boundaries, the Financial Cloud Market Size is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. The North American region is estimated to dominate the Financial Cloud Market Sales. It will hold the largest share in the upcoming years of the forecast period. The developed countries such as the US and Canada are providing better opportunities for enterprises to grow exponentially. Also, the early adoption of new technologies and easy availability of skilled professionals will fuel the market growth.
Simultaneously, the Asia-Pacific region is evaluated to experience the fastest growth during the forecast period. Along with that, it will hold a significant Financial Cloud Market Share in the upcoming years. The huge increase in insurance and banking companies is also propelling the market growth at a certain rate. Thus, the market will flourish in the forecast years.
Competitive Landscape
The Financial Cloud Business is highly fragmented as it is largely dominated by several key players from across the world. These key players come up with new techniques to increase their revenue and brand portfolio. Such as new ventures, partnerships, market analysis, acquisitions, and many more. Here are the important Financial Cloud Market Top Leaders-
- Capegemini (France)
- SAP SE (Germany)
- Oracle Corporation (US)
- Amazon Web Services (US)
- Infosys (India)
- IBM Corporation (US)
- Fiserv Inc. (US)
- Salesforce Inc. (US)
- Huawei Technologies Co. Ltd (China)
- Beeks Financial Cloud Group Plc (UK)
- Google (US)
- Temenos Headquarters SA (Switzerland)
- Microsoft Corporation (US)
- SS&C Technologies Inc. (US)
- FIS Inc. (US)
Recent Developments
- In the year 2018, Salesforce announced the update of its service called "Financial Services Cloud" which provides integrated solutions for financial services to its customers.
- In 2018, Sage announced the launch of its new service called “Sage Intacct Budgeting and Planning.” This servicedoesn’t require the need to depend on emails and spreadsheets for planning and other processes. In this way, they can concentrate on their business.
Report Overview
The report overview of the Financial Cloud Market Analysis is listed below-
- Market Overview
- COVID-19 Analysis
- Dynamics of the Market
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Analysis
- Recent Development
Report Score and Segmentation
- Study Period- 2021-2028
- Base Year-2021
- Forecast Period- 2021-2028
- Historical Period-2019-2020
The score in the report is that the market will have an accelerating growth during the forecast period. This Financial Cloud Market Research Report is completed by gathering information from several primary and secondary sources. It highlights the growth and other key factors such as opportunities, challenges, and many more. It also gives brief information about key players in the market.
Segmentation
- By Organisation
- Medium-Sized Enterprises
- Large Enterprises
- Small Sized Enterprises
- By Component
- Solutions
- Wealth Management
- Customer Management
- Analytics Security and Financial Forecasting
- Others
- Services
- Managed Services
- Professional Services
- By Sub-Industry
- Banking and Financial services
- Insurance
- By Cloud Type
- Public Cloud
- Private Cloud
- By Region
- Europe
- The Middle East and Africa
- Asia-Pacific
- North America
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 22.7% (2018-2023) |
| Base Year | 2019 |
| Forecast Period | 2021-2028 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, Cloud Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Salesforce.com, inc. (US), Oracle Corporation (US), Google LLC (US), IBM Corporation (US), Microsoft Corporation (US), Huawei Technologies Co., Ltd. (China), SAP SE (Germany), Amazon Web Services, Inc. (US), Capgemini (France), Beeks Financial Cloud Group plc (UK), Infosys (India), FIS (US), Fiserv, Inc. (US), SS&C Technologies, Inc. (US), and Temenos Headquarters SA (Switzerland). |
| Key Market Opportunities | The growth is attributed to the presence of large number of financial institutions and wealth management firms and a high degree of digitalization in the region. |
| Key Market Drivers | Increasing digitalization across the globe and growing number of financial institutions that demand advanced IT solutions to gain genuine competitive advantage rather building and maintaining an expensive IT infrastructure are the key driving factors for the growth of the market. |
Frequently Asked Questions (FAQ) :
The financial cloud market can thrive at 22.7% CAGR by 2023.
The financial cloud market can value at USD 46.03 Bn by 2023.
In 2018, the financial cloud valuation was USD 16.55 Bn.
Infosys (India), Fiserv, Inc. (US), and FIS (US) are some reputed names in the financial cloud market.
The North America financial cloud market can attain the grand share of the global market.
Table of Contents
1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Financial Cloud Market, By Component
1.1.2 Global Financial Cloud Market, By Cloud Type
1.1.3 Global Financial Cloud Market, By Organization Size
1.1.4 Global Financial Cloud Market, By Sub-industry
1.1.5 Global Financial Cloud Market, By Region
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Market Structure
2.4 Key Buying Criteria
2.5 Macro Factor Indicator Analysis
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List of Assumptions
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Technological Trend
5.7 Regulatory Landscape/Standards
6 Market Factor Analysis
6.1 Value Chain Analysis
6.2 Porter’s Five Forces Model
6.2.1 Threat of New Entrants
6.2.2 Bargaining Power of Suppliers
6.2.3 Bargaining Power of Buyers
6.2.4 Threat of Substitutes
6.2.5 Intensity of Rivalry
6 Global Financial Cloud Market, By Component
6.1 Overview
6.2 Solution
6.2.1 Solution: Market Estimates & Forecast, By Region/Country, 2020-2027
6.2.2 Customer Management
6.2.2.1 Customer Management: Market Estimates & Forecast, By Region/Country, 2020-2027
6.2.3 Wealth Management
6.2.3.1 Wealth Management: Market Estimates & Forecast, By Region/Country, 2020-2027
6.2.4 Financial Forecasting and Analytics
6.2.4.1 Financial Forecasting and Analytics: Market Estimates & Forecast, By Region/Country, 2020-2027
6.2.5 Security
6.2.5.1 Security: Market Estimates & Forecast, By Region/Country, 2020-2027
6.2.6 Others
6.2.6.1 Others: Market Estimates & Forecast, By Region/Country, 2020-2027
6.3 Service
6.3.1 Service: Market Estimates & Forecast, By Region/Country, 2020-2027
6.3.2 Professional Services
6.3.2.1 Professional Services: Market Estimates & Forecast, By Region/Country, 2020-2027
6.3.3 Managed Services
6.3.3.1 Managed Services: Market Estimates & Forecast, By Region/Country, 2020-2027
7 Global Financial Cloud Market, By Cloud Type
7.1 Overview
7.2 Public Cloud
7.2.1 Public Cloud: Market Estimates & Forecast, By Region/Country, 2020-2027
7.3 Private Cloud
7.3.1 Private Cloud: Market Estimates & Forecast, By Region/Country, 2020-2027
8 Global Financial Cloud Market, By Organization Size
8.1 Overview
8.2 Large Enterprises
8.2.1 Large Enterprises: Market Estimates & Forecast, By Region/Country, 2020-2027
8.3 Small and Medium-sized Enterprises
8.3.1 Small and Medium-sized Enterprises: Market Estimates & Forecast, By Region/Country, 2020-2027
9 Global Financial Cloud Market, By Sub-industry
9.1 Overview
9.2 Banking and Financial Services
9.2.1 Banking and Financial Services: Market Estimates & Forecast, By Region/Country, 2020-2027
9.3 Insurance
9.3.1 Insurance: Market Estimates & Forecast, By Region/Country, 2020-2027
10 Global Financial Cloud Market, By Region
10.1 Overview
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia-Pacific
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Competitive Overview
11.2 Competitor Dashboard
11.3 Major Growth Strategy in the Global Financial Cloud Market
11.4 Competitive Benchmarking
11.5 Market Share Analysis
11.6 XXXX: The leading player in terms of number of developments in Global Financial Cloud Market
11.7 Key Developments & Growth Strategies
11.7.1 New Product Launch/Service Deployment
11.7.2 Mergers & Acquisitions
11.7.3 Joint Venture
11.7.3 Business Expansion
12 Company Profiles
12.1 Salesforce.com, inc.
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Product Offerings
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.1.6 Key Strategies
12.2 Oracle Corporation
12.2.1 Company Overview
12.2.2 Financial Overview
12.2.3 Product Offerings
12.2.4 Key Developments
12.2.5 SWOT Analysis
12.2.6 Key Strategies
12.3 Google LLC
12.3.1 Company Overview
12.3.2 Financial Overview
12.3.3 Product Offerings
12.3.4 Key Developments
12.3.5 SWOT Analysis
12.3.6 Key Strategies
12.4 IBM Corporation
12.4.1 Company Overview
12.4.2 Financial Overview
12.4.3 Product Offerings
12.4.4 Key Developments
12.4.5 SWOT Analysis
12.4.6 Key Strategies
12.5 Microsoft Corporation
12.5.1 Company Overview
12.5.2 Financial Overview
12.5.3 Product Offerings
12.5.4 Key Developments
12.5.5 SWOT Analysis
12.5.6 Key Strategies
12.6 Huawei Technologies Co., Ltd.
12.6.1 Company Overview
12.6.2 Financial Overview
12.6.3 Product Offerings
12.6.4 Key Developments
12.6.5 SWOT Analysis
12.6.6 Key Strategies
12.7 SAP SE
12.7.1 Company Overview
12.7.2 Financial Overview
12.7.3 Product Offerings
12.7.4 Key Developments
12.7.5 SWOT Analysis
12.7.6 Key Strategies
12.8 Amazon Web Services, Inc.
12.8.1 Company Overview
12.8.2 Financial Overview
12.8.3 Product Offerings
12.8.4 Key Developments
12.8.5 SWOT Analysis
12.8.6 Key Strategies
12.9 Capgemini
12.9.1 Company Overview
12.9.2 Financial Overview
12.9.3 Product Offerings
12.9.4 Key Developments
12.9.5 SWOT Analysis
12.9.6 Key Strategies
12.10 Beeks Financial Cloud Group plc
12.10.1 Company Overview
12.10.2 Financial Overview
12.10.3 Product Offerings
12.10.4 Key Developments
12.10.5 SWOT Analysis
12.10.6 Key Strategies
12.11 Infosys
12.11.1 Company Overview
12.11.2 Financial Overview
12.11.3 Product Offerings
12.11.4 Key Developments
12.11.5 SWOT Analysis
12.11.6 Key Strategies
12.12 FIS
12.12.1 Company Overview
12.12.2 Financial Overview
12.12.3 Product Offerings
12.12.4 Key Developments
12.12.5 SWOT Analysis
12.12.6 Key Strategies
12.13 Fiserv, Inc.
12.13.1 Company Overview
12.13.2 Financial Overview
12.13.3 Product Offerings
12.13.4 Key Developments
12.13.5 SWOT Analysis
12.13.6 Key Strategies
12.14 SS&C Technologies, Inc.
12.14.1 Company Overview
12.14.2 Financial Overview
12.14.3 Product Offerings
12.14.4 Key Developments
12.14.5 SWOT Analysis
12.14.6 Key Strategies
12.15 Temenos Headquarters SA
12.15.1 Company Overview
12.15.2 Financial Overview
12.15.3 Product Offerings
12.15.4 Key Developments
12.15.5 SWOT Analysis
12.15.6 Key Strategies
13 Appendix
13.1 References
13.2 Related Reports
13.3 List of Abbreviations
LIST OF TABLES
Table 1 Global Financial Cloud Market, By Region, 2020-2027
Table 2 North America Financial Cloud Market, By Country, 2020-2027
Table 3 Europe Financial Cloud Market, By Country, 2020-2027
Table 4 Asia-Pacific Financial Cloud Market, By Country, 2020-2027
Table 5 Global Financial Cloud Market, By Component, By Region, 2020-2027
Table 6 North America Financial Cloud Market, By Component, By Country, 2020-2027
Table 7 Europe Financial Cloud Market, By Component, By Country, 2020-2027
Table 8 Asia-Pacific Financial Cloud Market, By Component, By Country, 2020-2027
Table 9 Middle East & Africa Financial Cloud Market, By Component, 2020-2027
Table 10 South America Financial Cloud Market, By Component, 2020-2027
Table 11 Global Financial Cloud Market, By Cloud Type, By Region, 2020-2027
Table 12 North America Financial Cloud Market, By Cloud Type, By Country, 2020-2027
Table 13 Europe Financial Cloud Market, By Cloud Type, By Country, 2020-2027
Table 14 Asia-Pacific Financial Cloud Market, By Cloud Type, By Country, 2020-2027
Table 15 Middle East & Africa Financial Cloud Market, By Cloud Type, 2020-2027
Table 16 South America Financial Cloud Market, By Cloud Type, 2020-2027
Table 17 Global Financial Cloud Market, By Sub-industry, By Region, 2020-2027
Table 18 North America Financial Cloud Market, By Sub-industry, By Country, 2020-2027
Table 19 Europe Financial Cloud Market, By Sub-industry, By Country, 2020-2027
Table 20 Asia-Pacific Financial Cloud Market, By Sub-industry, By Country, 2020-2027
Table 21 Middle East & Africa Financial Cloud Market, By Sub-industry, 2020-2027
Table 22 South America Financial Cloud Market, By Sub-industry, 2020-2027
LIST OF FIGURES
FIGURE 1 Global Financial Cloud Market: Segmentations
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Financial Cloud Market
FIGURE 4 Value Chain of Global Financial Cloud Market
FIGURE 5 Share of Global Financial Cloud Market by Country, 2020
FIGURE 6 Global Financial Cloud Market, 2020-2027
FIGURE 7 Global Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 8 Share of Global Financial Cloud Market, By Component, 2020
FIGURE 9 Global Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 10 Share of Global Financial Cloud Market, By Cloud Type, 2020
FIGURE 11 Global Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 12 Share of Global Financial Cloud Market, by Sub-industry, 2020
FIGURE 13 North America Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 14 Share of North America Financial Cloud Market, By Component, 2020
FIGURE 15 North America Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 16 Share of Global Financial Cloud Market, By Cloud Type, 2020
FIGURE 17 North America Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 18 Share of North America Financial Cloud Market, by Sub-industry, 2020
FIGURE 19 Europe Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 20 Share of Europe Financial Cloud Market, By Component, 2020
FIGURE 21 Europe Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 22 Share of Europe Financial Cloud Market, By Cloud Type, 2020
FIGURE 23 Europe Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 24 Share of Europe Financial Cloud Market, by Sub-industry, 2020
FIGURE 25 Asia-Pacific Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 26 Share of Asia-Pacific Financial Cloud Market, By Component, 2020
FIGURE 27 Asia-Pacific Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 28 Share of Asia-Pacific Financial Cloud Market, By Cloud Type, 2020
FIGURE 29 Asia-Pacific Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 30 Share of Asia-Pacific Financial Cloud Market, by Sub-industry, 2020
FIGURE 31 Middle East & Africa Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 32 Share of Middle East & Africa Financial Cloud Market, By Component, 2020
FIGURE 33 Middle East & Africa Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 34 Share of Middle East & Africa Financial Cloud Market, By Cloud Type, 2020
FIGURE 35 Middle East & Africa Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 36 Share of Middle East & Africa Financial Cloud Market, by Sub-industry, 2020
FIGURE 37 South America Financial Cloud Market Size, By Component, 2020 TO 2027
FIGURE 38 Share of South America Financial Cloud Market, By Component, 2020
FIGURE 39 South America Financial Cloud Market Size, By Cloud Type, 2020 TO 2027
FIGURE 40 Share of South America Financial Cloud Market, By Cloud Type, 2020
FIGURE 41 South America Financial Cloud Market Size, by Sub-industry, 2020 TO 2027
FIGURE 42 Share of South America Financial Cloud Market, by Sub-industry, 2020