Global Finance Cloud Market Overview
According to SPER Market Research, the Global Finance Cloud Market is estimated to reach USD 187.63 billion by 2033 with a CAGR of 20.53%.
The finance cloud market is a subset of the technology industry that focuses on providing financial services and solutions via cloud computing. Cloud computing refers to the process of storing and accessing data and programmes over the internet rather than on a physical computer or server. Companies in the finance cloud market use the internet's power to provide a variety of financial services such as online banking, digital payments, and investment management. As long as they have an internet connection, people can access their financial information and conduct transactions at any time and from any location. The finance cloud market has grown in popularity in recent years because it provides individuals and businesses with convenience, flexibility, and security when managing their finances.
The potential for growth in the finance cloud computing services market is significant in emerging economies like Brazil, China, India and Africa. An example is the estimation by ITRS Group Ltd., a company specializing in monitoring and analytics software, which projected that by 2022, around 86% of the financial services sector in the Asia Pacific region would have embraced public cloud solutions. By utilizing cloud-based tools, organizations can substantially decrease expenses related to purchasing, maintaining, and upgrading IT systems and equipment.
Exploring the Growth Drivers of the Global Finance Cloud Industry.
The global finance cloud market is propelled by several factors, including the growing need for operational efficiency and transparency in business processes, as well as the increasing demand for cloud services among financial companies. Furthermore, small and medium-sized enterprises (SMEs) are increasingly adopting cloud solutions due to the various benefits they offer, such as eliminating the need for regular upgrades, reducing costs, and providing business flexibility. These factors play a significant role in driving the growth of the global market. However, there are certain limitations to consider, such as concerns regarding data security and protection, as well as higher investment and maintenance costs. These factors can restrain the growth of the finance cloud market.
What challenges does the Global Finance Cloud Market face?
The growth of the global finance cloud industry faces limitations due to concerns related to data security, protection, and the high costs associated with investment and maintenance. The security of cloud storage is often vulnerable to the risk of data loss. Rather than being stolen or shared, information can be compromised or completely affected due to factors such as computer viruses, hacking attempts, or system malfunctions.
In what ways has the COVID-19 pandemic affected Global Finance Cloud Market?
The global finance cloud market experienced a positive influence from the COVID-19 pandemic. As the global economy slowed down due to the surge in COVID-19 cases, the banking, insurance, and financial services sectors remained operational. In response to the pandemic, financial institutions had to quickly transition to remote work setups, leading to increased investments in cloud-based infrastructure. Notably, Deutsche Bank and Google Cloud entered into a strategic cloud collaboration agreement for a duration of 10 years amidst the COVID-19 pandemic. This alliance is expected to enhance resilience, accelerate the development of new capabilities, and reduce costs for the organizations involved.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Enterprise Size, By Deployment Model, By Application.
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Amazon Web Services, Inc., Acumatica, Inc., AryakaNetworks,Inc., Cisco Systems, Inc., International Business Machines Corporation, Microsoft, Oracle, SAP SE, Unit4, and Sage Group plc.
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Global Finance Cloud Market Segmentation:
1. By Component:
- Solution
- Financial Forecasting
- Financial Reporting & Analysis
- Security
- Governance
- Risk & Compliance
2. By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
3. By Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
4. By Application:
- Revenue Management
- Business Intelligence
- Asset Management
- Customer Relationship Management
- Enterprise Resource Planning
5. By Region:
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Finance Cloud Market Size (FY’2023-FY’2033)
- Overview of Global Finance Cloud Market
- Segmentation of Global Finance Cloud Market By Component {Solution (Financial Forecasting, Financial Reporting & Analysis, Security, Governance, Risk & Compliance, and Others) and Service}
- Segmentation of Global Finance Cloud Market By Enterprise Size {Large Enterprises and Small & Medium Enterprises (SMEs)}
- Segmentation of Global Finance Cloud Market By Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud)
- Segmentation of Global Finance Cloud Market By Application (Business Intelligence, Revenue Management, Customer Relationship Management, Asset Management, Enterprise Resource Planning, and Others)
- Statistical Snap of Global Finance Cloud Market
- Global Finance Cloud Market of Growth Analysis
- Problems and Challenges in Global Finance Cloud Market
- Competitive Landscape in the Global Finance Cloud Market
- Impact of COVID-19 and Demonetization on Global Finance Cloud Market
- Details on Recent Investment in Finance Cloud Market
- Competitive Analysis of Global Finance Cloud Market
- Global Finance Cloud Market in the Key Players
- SWOT Analysis of Global Finance Cloud Market
- Finance Cloud Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Finance Cloud Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Finance Cloud Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Finance Cloud Market
7. Global Finance Cloud Market, By Component (USD Million)
7.1. Global Finance Cloud Market Value Share and Forecast, By Component, 2023-2033
7.2. Solution
7.3. Financial Forecasting
7.4. Financial Reporting & Analysis
7.5. Security
7.6. Governance
7.7. Risk & Compliance
8. Global Finance Cloud Market, By Enterprise Size (USD Million)
8.1. Global Finance Cloud Market Value Share and Forecast, By Enterprise Size, 2023-2033
8.2. Large Enterprises
8.3. Small & Medium Enterprises (SMEs)
9. Global Finance Cloud Market, By Deployment Model (USD Million)
9.1. Global Finance Cloud Market Value Share and Forecast, By Deployment Model, 2023-2033
9.2. Public Cloud
9.3. Private Cloud
9.4. Hybrid Cloud
10. Global Finance Cloud Market, By Application (USD Million)
10.1. Global Finance Cloud Market Value Share and Forecast, By Application, 2023-2033
10.2. Revenue Management
10.3. Business Intelligence
10.4. Asset Management
10.5. Customer Relationship Management
10.6. Enterprise Resource Planning
11. Global Finance Cloud Market Forecast, 2019-2033 (USD Million)
11.1. Global Finance Cloud Market Size and Market Share
12. Global Finance Cloud Market, By Component, 2019-2033 (USD Million)
12.1. Global Finance Cloud Market Size and Market Share By Component (2019-2026)
12.2. Global Finance Cloud Market Size and Market Share By Component (2027-2033)
13. Global Finance Cloud Market, By Enterprise Size, 2019-2033 (USD Million)
13.1. Global Finance Cloud Market Size and Market Share By Enterprise Size (2019-2026)
13.2. Global Finance Cloud Market Size and Market Share By Enterprise Size (2027-2033)
14. Global Finance Cloud Market, By Deployment Model, 2019-2033 (USD Million)
14.1. Global Finance Cloud Market Size and Market Share By Deployment Model (2019-2026)
14.2. Global Finance Cloud Market Size and Market Share By Deployment Model (2027-2033)
15. Global Finance Cloud Market, By Application, 2019-2033 (USD Million)
15.1. Global Finance Cloud Market Size and Market Share By Application (2019-2026)
15.2. Global Finance Cloud Market Size and Market Share By Application (2027-2033)
16. Global Finance Cloud Market, By Region, 2019-2033 (USD Million)
16.1. Global Finance Cloud Market Size and Market Share By Region (2019-2026)
16.2. Global Finance Cloud Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Amazon Web Services Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Acumatica Inc.
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. AryakaNetworks Inc.
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Cisco Systems Inc.
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. International Business Machines Corporation
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Microsoft
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Oracle
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. SAP SE
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Unit4
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Sage Group plc
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope