Financial Cloud Market Research Report – Global Forecast till 2027

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

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data.

 


Market Synopsis


Globally, the financial cloud market is expected to grow from USD 16.55 billion in 2018 to USD 46.03 billion by 2023, at a CAGR of 22.7% during the forecast period, 2018–2023. The financial cloud solutions enable enterprises to reach their existing as well as potential customers with right advertisement, in the right way, and at the right time, enabling enterprises to build a strong relationship with their customers. 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. However, high initial cost and lack of expertise, particularly among small and medium-sized enterprises (SMEs) in developing economies, are expected to hinder growth of the global financial cloud market.


Financial cloud is a complete cloud-based banking solution that enables all kinds of financial institutions to efficiently manage their customer’s accounts and wealth. It offers its clinets complete 360-degree visibility into their financial products and customers’ profiles, enabling them to correctly strategize on their dynamic offerings depending on what their customers want, and when. The key objective of financial cloud is to create a seamless experience, which could promote more personal client engagements and help personal bankers to work smarter and faster.


Financial cloud solutions and services have a wide adoption across the globe particularly, in the banking sector. According to the latest market trends, banking and financial services segment is expected to be the larger contributor than insurance segment latter is expected to grow with a higher CAGR during the forecast period due to the increasing number of insurance businesses across the world.


 


Global Financial Cloud Market


Financial Cloud Market


Source: Secondary Literature, Expert Interviews, and MRFR Analysis


 


Segmentation.


The global financial cloud market is segmented based on component, cloud type, organization size, sub-industry, and region/country.


By component, the market is segmented into solutions and services. Solutions segment is further segmented into customer management, wealth management, financial forecasting and analytics, security, and others. By service, the market is segmented into professional and managed services.


By cloud type, the market is segmented into public cloud and private cloud.


By organization size, the market is segmented into large enterprises, and small and medium-sized enterprises.


By sub-industry, the market is segmented into banking and financial services, and insurance.


By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and the rest of the world. North America is further segmented into the US, Canada, and Mexico; Europe into the UK, Germany, France, and the rest of Europe; Asia-Pacific into China, India, Japan, and the rest of Asia-Pacific.


 


Regional Analysis


The global market for financial cloud market is estimated to grow rapidly during the forecast period from 2018 to 2023. The geographical analysis of global financial cloud market is studied for North America, Europe, Asia-Pacific, Middle East & Africa, and South America.


North America is presumed to have the largest market share in the global financial cloud market. The US, Canada, and Mexico are the leading countries in the region. 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. Asia-Pacific is anticipated to be the fastest growing region in the global financial cloud market over the forecast period. Rapidly increasing number of banking and insurance businesses and rising demand for advanced banking solutions in the region are the key driving factors for the growth of financial cloud market in the region.


 


Competitive Analysis


The financial cloud market has presence of many IT giants from all parts of the world, which is intensifing the competition in the market. These vendors are adopting various organic and inorganic growth strategies to lead in the financial cloud market. The strategies, such as new product launch/product enhancement and partnership are the major strategies adopted by the prominent vendors in the market to meet new use case requirements and quickly acquire new customers.


 


Key players


The prominent players in financial cloud market are 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).


 


Intended Audience



  • Financial Cloud Solution Providers

  • Banks and Wealth Management Firms

  • Insurance Companies

  • Cloud service providers

  • IT Professional Service Providers

  • IT Managed Service Providers

  • Government Organizations

  • Distributors and Value Added Resellers (VARs)

  • Fintech Vendors



Report Scope:
Report Attribute/Metric Details
  Market Size

  • USD 16.55 Billion (2018)
  • USD 46.03 Billion (2023)
  •   CAGR   22.7% (2018-2023)
      Base Year   2019
      Forecast Period   2020-2027
      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