Private and Public Cloud Market Size in the Financial Services Industry to Increase by USD 90,175.21 Million: 37% Growth to Originate from North America - Technavio
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:
Accenture Plc: The company offers private and public cloud services such as the Accenture Cloud Platform.
Alibaba Group Holding Ltd.: The company offers private and public cloud services such as Alibaba Cloud.
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.
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.
Eze Castle Integration Inc.: The company offers private and public cloud services such as ECI-managed cloud solutions.
Fiserv Inc.
Fujitsu Ltd.
Hewlett Packard Enterprise Co.
Huawei Technologies Co. Ltd.
Infosys Ltd.
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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
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.
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 marketsize 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.
What are the key data covered in this private and public cloud market in the financial services industry report?
CAGR of the private and public cloud market in the financial services industry during the forecast period
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
Precise estimation of the size of the private and public cloud market in the financial services industry and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
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
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of private and public cloud market in the financial services industry vendors
Private and Public Cloud Market in the Financial Services Industry Scope
Report Coverage
Details
Page number
178
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 18.81%
Market growth 2023-2027
USD 90,175.21 million
Market structure
Fragmented
YoY growth (%)
16.34
Regional analysis
North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution
North America at 37%
Key consumer countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
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.
Market Dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
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.
Exhibit 143: International Business Machines Corp. - Overview
Exhibit 144: International Business Machines Corp. - Business segments
Exhibit 145: International Business Machines Corp. - Key offerings
Exhibit 146: International Business Machines Corp. - Segment focus
12.11 Jack Henry and Associates Inc.
Exhibit 147: Jack Henry and Associates Inc. - Overview
Exhibit 148: Jack Henry and Associates Inc. - Business segments
Exhibit 149: Jack Henry and Associates Inc. - Key offerings
Exhibit 150: Jack Henry and Associates Inc. - Segment focus
12.12 Microsoft Corp.
Exhibit 151: Microsoft Corp. - Overview
Exhibit 152: Microsoft Corp. - Business segments
Exhibit 153: Microsoft Corp. - Key news
Exhibit 154: Microsoft Corp. - Key offerings
Exhibit 155: Microsoft Corp. - Segment focus
12.13 Oracle Corp.
Exhibit 156: Oracle Corp. - Overview
Exhibit 157: Oracle Corp. - Business segments
Exhibit 158: Oracle Corp. - Key news
Exhibit 159: Oracle Corp. - Key offerings
Exhibit 160: Oracle Corp. - Segment focus
12.14 Rackspace Technology Inc.
Exhibit 161: Rackspace Technology Inc. - Overview
Exhibit 162: Rackspace Technology Inc. - Product / Service
Exhibit 163: Rackspace Technology Inc. - Key offerings
12.15 Red Hat Inc.
Exhibit 164: Red Hat Inc. - Overview
Exhibit 165: Red Hat Inc. - Product / Service
Exhibit 166: Red Hat Inc. - Key offerings
12.16 Salesforce.com Inc.
Exhibit 167: Salesforce.com Inc. - Overview
Exhibit 168: Salesforce.com Inc. - Product / Service
Exhibit 169: Salesforce.com Inc. - Key news
Exhibit 170: Salesforce.com Inc. - Key offerings
12.17 VMware Inc.
Exhibit 171: VMware Inc. - Overview
Exhibit 172: VMware Inc. - Product / Service
Exhibit 173: VMware Inc. - Key news
Exhibit 174: VMware Inc. - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 175: Inclusions checklist
Exhibit 176: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 177: Currency conversion rates for US$
13.4 Research methodology
Exhibit 178: Research methodology
Exhibit 179: Validation techniques employed for market sizing
Exhibit 180: Information sources
13.5 List of abbreviations
Exhibit 181: List of abbreviations
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