Global Private and Public Cloud Market in the Financial Services Industry 2023-2027

Global Private and Public Cloud Market in the Financial Services Industry 2023-2027

Technavio has been monitoring the private and public cloud market in the financial services industry and it is poised to grow by $90175.21 mn during 2023-2027, accelerating at a CAGR of 18.81% during the forecast period. Our report on the private and public cloud market in the financial services industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing demand for virtually unlimited storage and big data, the increased focus on cost optimization and scaling computation, and the high focus on sustainability using green IT.

Technavio's private and public cloud market in the financial services industry is segmented as below:

By Service Type

• SaaS
• IaaS
• PaaS

By Deployment

• Public cloud
• Private cloud

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies the development of OpenStack as one of the prime reasons driving the private and public cloud market growth during the next few years. Also, the emergence of blockchain technology and the increasing adoption of market intelligence in financial firms will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the private and public cloud market in the financial services industry covers the following areas:

• Private and public cloud market sizing
• Private and public cloud market forecast
• Private and public cloud market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading private and public cloud market vendors that include 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. Also, the private and public cloud market in the financial services industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.