Finance Cloud Market

Finance Cloud Market by Types (Solution and Service), Applications (Financial Forecasting, Financial Reporting and Analysis, Risk and Compliance, Managed Services, Revenue Management, Wealth Management, Account Management, Customer Management, and Others), Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: BFSI-1024
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 185
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The global finance cloud market size was valued at USD 9.54 billion in 2020 and is projected to expand at a CAGR of 23.7% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand from banking and insurance companies for digital applications, growing requirements for operational efficiency, and rising cyber threats to financial sector.

Finance Cloud Market Key Takeaways

Finance cloud is management of the organizations financial planning on the cloud computing. In modern world the businesses are growing at a tremendous rate with increasing demand for powerful software options to manage the company’s finances. Cloud computing is delivery of computing services such as servers, databases, storage, networking, software analytics, and intelligence over the internet. Finance cloud is based on this technology to manage operations and run the financial infrastructure more efficiently and scale business needs as per change. It arms businesses operations and finance teams with an ecosystem of connected tools to manage accounts, process payments, create financial reports, handle payroll, and manage budgets.

In terms of security financial cloud platforms run entirely in a secure cloud environment. The software’s work seamlessly in sync together which allows organizations to build their own solutions which can be integrated efficiently. On the basis of financial system implementations and accounting the cloud environment aren’t that much different than those in an on-premises environment. However, the differences which do exist between them are exponential, businesses do get the flexibility to carefully plan out project timings, responsibilities, data migration, and accounting structure.

Advent of finance cloud has enabled the businesses with the affordability of financial as well as operational tools and benefits such as cost effectiveness, lower maintenance charges, subscription-based pricing model, and access of data from anywhere and anytime.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for deployment of applications via cloud, growing requirements for customer management, operational efficiency, and business agility are anticipated to drive the market expansion during the forecast period.
  • Rapid growth of the industries offering cloud services, growing environmental concerns, rising cyber threats, and need for cost effective solutions for on premise financial solutions are major factors boosting the market growth in the coming years.
  • Increasing concerns over regulatory compliances and complexities involving protection of intellectual property rights (IPR) are major factors anticipated to hinder the market expansion during the forecast period.
  • Concerns over data privacy, service provider reliability, and disaster recovery are expected to impede market growth in the coming years.
  • Increasing adoption of the finance cloud computing technology by large corporations and emerging technologies with cloud solution are projected to offer significant opportunities for the market players.

Scope of the Report

The report on the global finance cloud market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Finance Cloud Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Solution and Service), Applications (Financial Forecasting, Financial Reporting and Analysis, Risk and Compliance, Managed Services, Revenue Management, Wealth Management, Account Management, Customer Management, and Others), Deployment (Public Cloud, Private Cloud, and Hybrid Cloud)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Microsoft, Alphabet Inc., IBM Corporation, Red Hat, SAP, Kamatera, VMware, Oracle, Salesforce, Cisco Systems, Verizon, Hewlett Packard Enterprise Development LP, ServiceNow, Alibaba Cloud, DigitalOcean, LLC, Workday.Inc, CloudSigma Holding AG, Adobe and Logicworks


Market Segment Insights

Service segment is projected to account for a large market share
Based on the types, the market is bifurcated into solution and service. Service segment is projected to account for a large market share due to reduced IT costs, scalability, business continuity, collaboration efficiency, and flexibility of services in accordance to work practices. Finance cloud services provide businesses with faster implementation, anywhere access to applications and content, and higher utilization of infrastructure investments which is expected to drive the market expansion in the coming years.

Customer management segment is expected to expand at a significant pace
Based on the applications, the finance cloud market is segmented into financial forecasting, financial reporting and analysis, risk and compliance, managed services, revenue management, wealth management, account management, customer management, and others. Customer management segment is expected to expand at a significant pace due to its increasing demand from the banking and financial sector for integrated tools for managing customer query resolution, satisfaction, and feedback.

On the other hand, the managed services and account management segment are projected to grow at a steady CAGR during the forecast period owing to increasing adoption of financial cloud management tools and their integration into the business operations for improving efficiency.

Public cloud segment to exhibit high CAGR
In terms of deployment, the finance cloud market is segregated into public cloud, private cloud, and hybrid cloud. Public cloud segment is projected to exhibit high CAGR. Rapid growth of transnational and global organizations which are based out of multiple locations worldwide has increased the demand for public cloud infrastructure due to its benefits such as high elasticity, scalability, low cost subscription-based price tier, and ability to share across the multiple organizations is anticipated to propel the market expansion at a significant CAGR during the forecast period.

Finance Cloud Market By Deployment

North America is anticipated to represent major market share
On the basis of regions, the finance cloud market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to represent major market share during the forecast period. The regional market growth can be attributed to increased demand for wealth management services, growing adoption of finance cloud computing, and rapid digitization. On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to rapid growth of banking and insurance sector in developing countries across the region.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Finance Cloud Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Finance Cloud Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Finance Cloud Market - Supply Chain
  4.5. Global Finance Cloud Market Forecast
     4.5.1. Finance Cloud Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Finance Cloud Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Finance Cloud Market Absolute $ Opportunity
5. Global Finance Cloud Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Finance Cloud Market Size and Volume Forecast by Types
     5.3.1. Solution
     5.3.2. Service
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Finance Cloud Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Finance Cloud Market Size and Volume Forecast by Applications
     6.3.1. Financial Forecasting
     6.3.2. Financial Reporting and Analysis
     6.3.3. Risk and Compliance
     6.3.4. Managed Services
     6.3.5. Revenue Management
     6.3.6. Wealth Management
     6.3.7. Account Management
     6.3.8. Customer Management
     6.3.9. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Finance Cloud Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Finance Cloud Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Finance Cloud Demand Share Forecast, 2019-2026
8. North America Finance Cloud Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Finance Cloud Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Finance Cloud Market Size and Volume Forecast by Types
     8.4.1. Solution
     8.4.2. Service
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Finance Cloud Market Size and Volume Forecast by Applications
     8.7.1. Financial Forecasting
     8.7.2. Financial Reporting and Analysis
     8.7.3. Risk and Compliance
     8.7.4. Managed Services
     8.7.5. Revenue Management
     8.7.6. Wealth Management
     8.7.7. Account Management
     8.7.8. Customer Management
     8.7.9. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Finance Cloud Demand Share Forecast, 2019-2026
9. Latin America Finance Cloud Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Finance Cloud Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Finance Cloud Market Size and Volume Forecast by Types
     9.4.1. Solution
     9.4.2. Service
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Finance Cloud Market Size and Volume Forecast by Applications
     9.7.1. Financial Forecasting
     9.7.2. Financial Reporting and Analysis
     9.7.3. Risk and Compliance
     9.7.4. Managed Services
     9.7.5. Revenue Management
     9.7.6. Wealth Management
     9.7.7. Account Management
     9.7.8. Customer Management
     9.7.9. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Finance Cloud Demand Share Forecast, 2019-2026
10. Europe Finance Cloud Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Finance Cloud Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Finance Cloud Market Size and Volume Forecast by Types
     10.4.1. Solution
     10.4.2. Service
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Finance Cloud Market Size and Volume Forecast by Applications
     10.7.1. Financial Forecasting
     10.7.2. Financial Reporting and Analysis
     10.7.3. Risk and Compliance
     10.7.4. Managed Services
     10.7.5. Revenue Management
     10.7.6. Wealth Management
     10.7.7. Account Management
     10.7.8. Customer Management
     10.7.9. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Finance Cloud Demand Share Forecast, 2019-2026
11. Asia Pacific Finance Cloud Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Finance Cloud Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Finance Cloud Market Size and Volume Forecast by Types
     11.4.1. Solution
     11.4.2. Service
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Finance Cloud Market Size and Volume Forecast by Applications
     11.7.1. Financial Forecasting
     11.7.2. Financial Reporting and Analysis
     11.7.3. Risk and Compliance
     11.7.4. Managed Services
     11.7.5. Revenue Management
     11.7.6. Wealth Management
     11.7.7. Account Management
     11.7.8. Customer Management
     11.7.9. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Finance Cloud Demand Share Forecast, 2019-2026
12. Middle East & Africa Finance Cloud Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Finance Cloud Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Finance Cloud Market Size and Volume Forecast by Types
     12.4.1. Solution
     12.4.2. Service
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Finance Cloud Market Size and Volume Forecast by Applications
     12.7.1. Financial Forecasting
     12.7.2. Financial Reporting and Analysis
     12.7.3. Risk and Compliance
     12.7.4. Managed Services
     12.7.5. Revenue Management
     12.7.6. Wealth Management
     12.7.7. Account Management
     12.7.8. Customer Management
     12.7.9. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Finance Cloud Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Finance Cloud Market: Market Share Analysis
  13.2. Finance Cloud Distributors and Customers
  13.3. Finance Cloud Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Microsoft
     13.4.2. Alphabet Inc.
     13.4.3. IBM Corporation
     13.4.4. Red Hat
     13.4.5. SAP
     13.4.6. Kamatera
     13.4.7. VMware
     13.4.8. Oracle
     13.4.9. Salesforce
     13.4.10. Cisco Systems
     13.4.11. Verizon
Segments Covered in the Report
The Market global Finance Cloud has been segmented on the basis of

Types
  • Solution
  • Service
Applications
  • Financial Forecasting
  • Financial Reporting and Analysis
  • Risk and Compliance
  • Managed Services
  • Revenue Management
  • Wealth Management
  • Account Management
  • Customer Management
  • Others
Deployment
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Microsoft
  • Alphabet Inc.
  • IBM Corporation
  • Red Hat
  • SAP
  • Kamatera
  • VMware
  • Oracle
  • Salesforce
  • Cisco Systems
  • Verizon
  • Hewlett Packard Enterprise Development LP
  • ServiceNow
  • Alibaba Cloud
  • DigitalOcean
  • Workday. Inc
  • CloudSigma Holding AG
  • Adobe and Logicworks

Key players competing in the finance cloud market include Microsoft, Alphabet Inc., IBM Corporation, Red Hat, SAP, Kamatera, VMware, Oracle, Salesforce, Cisco Systems, Verizon, Hewlett Packard Enterprise Development LP, ServiceNow, Alibaba Cloud, DigitalOcean, LLC, Workday.Inc, CloudSigma Holding AG, Adobe and Logicworks. Due to the increasing competitiveness some of the players are adopting several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • Dell acquired VMware in 2015 in a huge deal worth $58 billion as part of EMC acquisition.

  • On April 2021, it was announced that SAP and Dediq will form strategic partnership for financial services industries and will jointly expand SAP’s financial services portfolio.

    Finance Cloud Market By Key Players

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