NEW YORK, Nov. 26, 2022 /PRNewswire/ — The private and public cloud market in the financial services industry by service type, deployment, and geography – forecast and analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 18.81% and register an incremental growth of USD 90,175.21 million during the forecast period. The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a Free PDF Sample Report
Regional Analysis
Based on region, the global private and public cloud market in the financial services industry is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. North America is estimated to contribute 37% to the growth of the global market over the forecast period. The major users of cloud computing services in the region are the banking, financial services, insurance, e-commerce, and telecommunications sectors.
Company Profiles
The private and public cloud market in the financial services industry report includes information on the key products and recent developments of leading vendors, including:
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Accenture Plc: The company offers private and public cloud services such as the Accenture Cloud Platform.
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Alibaba Group Holding Ltd.: The company offers private and public cloud services such as Alibaba Cloud.
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Alphabet Inc.: The company offers private and public cloud services such as Google Cloud, which is suitable for banking, capital markets, insurance, and payment services.
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Amazon.com Inc.: The company offers private and public cloud services such as AWS Cloud, which is suitable for banking, payments, capital markets, and insurance services.
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Eze Castle Integration Inc.: The company offers private and public cloud services such as ECI-managed cloud solutions.
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Fiserv Inc.
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Fujitsu Ltd.
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Hewlett Packard Enterprise Co.
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Huawei Technologies Co. Ltd.
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Infosys Ltd.
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To gain access to more vendor profiles available with Technavio, buy the report!
Market Dynamics
The market is driven by factors such as the growing demand for virtually unlimited storage and big data, increased focus on cost optimization and scaling computation, and high focus on sustainability using green IT. However, data security and privacy are hindering market growth.
Competitive Analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Request a Sample
Market Segmentation
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Based on service type, the market is segmented into SaaS, IaaS, and PaaS. The SaaS segment accounted for the largest share of the market in 2022.
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Based on geography, the market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. North America held the largest share of the market in 2022.
Related Reports:
The public cloud services market size is projected to grow by USD 221.84 billion from 2021 to 2026, and the market’s growth momentum will decelerate at a CAGR of 19%. The increasing adoption of IoT, ML, and big data is notably driving the public cloud services market growth, although factors such as vendor lock-ins may impede market growth.
The cloud storage services market size is projected to grow by USD 79.89 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 18.43%. The rising enterprise mobility and the need to improve efficiency are notably driving the market growth, although factors such as vendor lock-in issues may impede the market growth.
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What are the key data covered in this private and public cloud market in the financial services industry report?
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CAGR of the private and public cloud market in the financial services industry during the forecast period
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Detailed information on factors that will drive the growth of the private and public cloud market in the financial services industry between 2023 and 2027
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Precise estimation of the size of the private and public cloud market in the financial services industry and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the private and public cloud market in the financial services industry across APAC, North America, Europe, Middle East and Africa, and South America
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Thorough analysis of the market’s competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of private and public cloud market in the financial services industry vendors
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Private and Public Cloud Market in the Financial Services Industry Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.81% |
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Market growth 2023-2027 |
USD 90,175.21 million |
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Market structure |
Fragmented |
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YoY growth (%) |
16.34 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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. |
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Market Dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
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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. |
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Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service Type
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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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 across 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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