Global Private and Public Cloud Market in Financial Services Industry to grow at a CAGR of 13.12% during the period 2016 - 2020; Finds New Report

Report forecast the global private and public cloud market in financial services industry to grow at a CAGR of 13.12% during the period 2016-2020.

Financial services are the services offered by the financial sector to help credit companies, insurance companies, account companies, banks, investment fund firms, and finance firms to manage capital. The financial services industry is shifting toward the adoption of cloud for business operations to avoid IT infrastructure costs and operational expenditure. Cloud improves performance, increases efficiency, and ensures the security of business operations and business data. There are many vendors offering cloud-based solutions to financial services based on their business requirements. Both private and public cloud solutions are used in the financial services industry. Private cloud solutions are used more often by financial institutions as they offer better security of financial data, flexibility when expanding their operations, and customization based on business requirements.

The report covers the present scenario and the growth prospects of the global private and public cloud market in financial services industry for 2016-2020. To calculate the market size, the report considers the revenue generated from solutions and the fee charged for subscription of the public and private cloud for financial services.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, growing demand for virtually unlimited storage and big data is a key driver aiding to the growth of this market. Financial services are one of the most data-intensive industries. They are built on large IT infrastructures that process substantial volumes of data on a daily basis. A large amount of data is produced by financial firms through numerous sources such as online loan application data, bank transactions data, and stock and commodities trading. Financial institutions also need to gather and interpret unstructured and social data from sources such as the internet, mobile devices, and social media to gain advanced operational insights.

Further, the report states that data security and privacy is challenge the market is facing. The operational structure of financial services institutions makes it necessary for institutions to have strict data security standards compared with other industries. The increase in data privacy regulations and potential reputational menaces related to data breaches increase the demand for the data privacy policy. To explore emerging growth opportunities, financial firms need to be flexible in sharing confidential customer data between different branches, partners, or third parties, without compromising on compliance with regulations and the company’s reputation.

Global Private and Public Cloud Market in Financial Services Industry 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global private and public cloud market in financial services industry: AWS, CSC, Eze Castle Integration, Fujitsu, Google, IBM, Jack Henry & Associates, Microsoft, Oracle, Rackspace, Red Hat, Salesforce.com, and VMware

Other Prominent Vendors in the market are: Accenture, Alibaba Group Holding, Box, EMC, Fiserv, HPE, Huawei Technologies, Infosys, and SAP

Market driver

• Growing demand for virtually unlimited storage and big data
• For a full, detailed list, view our report

Market challenge

• Data security and privacy
• For a full, detailed list, view our report

Market trend

• Development of OpenStack
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 107 pages and 66 Exhibit “Global Private and Public Cloud Market in the Financial Services Industry 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market description, Market segmentation by service type, Geographical segmentation, Buying criteria, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Five forces model, Vendor landscape, Key vendor analysis, Appendix.

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