Cloud computing services & solutions are being implemented by numerous banks and financial sectors around the world. This has become a theme in the global cloud finance industry as security and compliance management in the cloud expands significantly and the operating atmosphere in the banking and financial sectors has changed, along with decreased technology and maintenance costs. Financial cloud applications help multiple organizations to control income and wealth while retaining client relationships. However, concern over regulatory compliances is likely to hamper the market growth. Furthermore, the growing deployment of applications via the cloud is anticipated to be an opportunity for the finance cloud market.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. However, the Asia-Pacific region is anticipated to gather the highest growth over the forecast years. Financial organizations across the Asia-Pacific region are experiencing digital transformations. This helps them to be more cost-effective.
In September 2017, the HKMA announced seven initiatives to promote the "New Era of Smart Banking" that bodes well for cloud demand among the Hong Kong BFSIs. In July 2018, it announced that it had completed a consultation on its planned solution to the Open Application Programming Interface (API) for the Hong Kong banking industry.
Key Segments of the Global Finance Cloud Market
Type Overview, 2018-2028 (USD Million)
- Financial Forecasting
- Financial Reporting and Analysis
- Governance, Risk, and Compliance
- Professional Services
- Managed Services
Enterprise Size Overview, 2018-2028 (USD Million)
- Small and Medium-Sized Enterprises
- Large Enterprises
Deployment Model Overview, 2018-2028 (USD Million)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global finance cloud market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global finance cloud market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the finance cloud industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Type, organization size, and deployment model. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global finance cloud market. The report will benchmark the finance cloud market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global finance cloud market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.