The finance cloud global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Finance Cloud Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
finance cloud market size has grown rapidly in recent years. It will
grow from $61.29 billion in 2023 to $72.12 billion in 2024 at a compound
annual growth rate (CAGR) of 17.7%. The growth in the historic period
can be attributed to legacy system challenges, cost efficiency,
scalability requirements, data security concerns, globalization trends.
The finance cloud market size is expected to see rapid growth in the next few years. It will grow to $137.16 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to regulatory changes, enhanced user experience, rising cybersecurity threats, data analytics and business intelligence, mobile access and flexibility. Major trends in the forecast period include innovative technologies integration, technology advancements, collaborative work environments, hybrid cloud adoption, interconnected ecosystems.
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Scope Of Finance Cloud Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Finance Cloud Market Overview
Market Drivers -
The
rising digital transformation is expected to propel the growth of the
finance cloud market going forward. Digital transformation refers to the
process of leveraging digital technologies to fundamentally change or
improve business operations, strategies, and customer experiences.
Digital transformation continuously innovate and bring new services, and
solutions to market for personalized, user-friendly interactions that
enhance customer satisfaction. The finance cloud is utilized in digital
transformation to enable organizations to modernize IT infrastructure,
enhance customer experiences, leverage data-driven insights, automate
processes, manage risk, and ensure compliance. For instance, in November
2022, according to the Mind the Tech Gap survey conducted among
approximately 2,700 executives in 13 countries by Boston Consulting
Group (BCG), a US-based management consulting firm, up to 60% of
enterprises intend to boost their investments in digital transformation
by 2023, despite a declining global economy. Therefore, the rising
digital transformation is driving the growth of the process
orchestration market.
Market Trends -
Major companies operating
in the finance cloud market are concentrating on technological
innovations and advancements, such as financial services cloud, to help
enterprises accelerate business value and innovation in the cloud.
Financial services cloud typically refers to a cloud-based platform or
solution designed specifically for the financial services industry, and
this is designed to help small and medium-sized financial services
enterprises accelerate cloud adoption and development. For instance, in
April 2022, Infosys Technologies Private Limited, an India-based global
consulting and IT services company, launched cobalt financial services
cloud, which offers security and regulatory compliance built into the
platform, financial services-specific assets and use cases, the
capability to rapidly deliver cloud-native business platforms, and
low-code apps for use by business and citizen developers, among others.
It benefits services, assets, and frameworks to accelerate enterprise
cloud adoption and the development of cloud-native platforms and
applications. Additionally, these features are aimed at helping
financial services firms unleash the power of cloud-driven
transformation and accelerate business value and innovation in the
cloud.
The finance cloud market covered in this report is segmented –
1)
By Offering: Solutions, Services, Cloud Infrastructure Services,
Managed Network Services, Managed Security Services, Other Managed
Services
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Revenue Management, Wealth Management, Customer Management, Account Management, Other Management
5) By End User: Banks, Financial Service Providers, Insurance Companies
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Regional Insights -
North
America was the largest region in the finance cloud market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the finance cloud market report
are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the finance cloud market are Microsoft Corporation,
International Business Machine Corporation, Oracle Corporation, SAP SE,
Salesforce Inc., Fiserv Inc., Intuit Inc., Fidelity Information Services
Global, Dassault Systèmes SE, Wolters Kluwer NV, Broadridge Financial
Solutions Inc., SS&C Technologies Holdings Inc., Workday Inc.,
Morgan Stanley Capital International Inc., SAGE Group plc, FactSet
Research Systems Inc., ACI Worldwide Inc., TIBCO Software Inc., Alteryx
Inc., Temenos Group AG, Ellucian Company L.P., BlackLine Inc., Q2
Holdings Inc., Bottomline Technologies Inc., nCino Inc.
Table of Contents
1. Executive Summary
2. Finance Cloud Market Report Structure
3. Finance Cloud Market Trends And Strategies
4. Finance Cloud Market – Macro Economic Scenario
5. Finance Cloud Market Size And Growth
…..
27. Finance Cloud Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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