About Finance Cloud
Financial Cloud is an integrated platform that enables users to automate, streamline, simplify, and value various financial operations using core information technology (IT) and flexible software-as-a-service (SaaS) solutions. These are usually offered on a subscription basis and help avoid large up-front investments in system software, computer hardware, and software licenses for accounting applications. It is being adopted by major financial organizations around the world because the financial cloud offers a higher return on investment (ROI), multidimensional financial analytics, and mobile access to enterprise collaboration.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 24.42% |
cloud is the most innovative insurance as well as banking market which has the potential for the largest impact on the industry in the near future. cloud-based automation will reduce manual work across operations. And the Key players the financial cloud market will have various strategies and new ideas to will enhance its efficiency and profitability. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Finance Cloud market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle Corporation (United States), Google, Inc. (United States), International Business Machines (United States), Amazon Web Services Inc. (United States), SAP SE Inc. (Germany), Computer Sciences Corporation (United States), Microsoft Corporation (United States), Huawei Technologies Co., Ltd (China), Capgemini (France) and Salesforce.com (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Sage Intacct Inc. (United States), AtemisCloud (United States), Huawei Technologies Co., Ltd (China), NEC Corporation (Japan) and Cox Communications (United States).
Segmentation Overview
AMA Research has segmented the market of Global Finance Cloud market by Type (Solutions [Financial Forecasting, Financial Reporting & Analysis, Security, Governance, Risk & Compliances, Others] and Services [Professional Services, Managed Services]), Application (Wealth Management System, Revenue Management, Customer Management, Account Management and Others) and Region.
On the basis of geography, the market of Finance Cloud has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Organisation Size, the sub-segment i.e. Large Enterprises will boost the Finance Cloud market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Model, the sub-segment i.e. Hybrid Cloud will boost the Finance Cloud market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sub Domain, the sub-segment i.e. Banking and Financial Service will boost the Finance Cloud market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand in Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) and Growing Environmental Concern
Market Growth Drivers:
Fueling Necessity of Customer Management and Business Management and Cloud help in Data Storage of Banking, Financial services and Insurance Industries
Challenges:
Increasing number of Cyber Crime, Third Party Services and Carousing among the Key Players
Restraints:
Deficiency of skilled IT Professional and Government Rules and Regulations
Opportunities:
Development in Application using Cloud
Market Leaders and their expansionary development strategies
In September 2019, Oracle has announced the availability of its first Oracle Analytics for Applications offering, designed for the Fusion Cloud enterprise resource planning applications, Oracle ERP Cloud, that companies use to run financial processes. and On 9th May 2018, Google has acquired Israel-based Velostrata, a leader in enterprise cloud migration technology.
In May 2018, AT&T and Google Cloud are together cloud to join customers to the cloud through new launched AT&T NetBond. The new partnership makes G Suite, Google's cloud-based productivity suite for business including Gmail, Docs, and Drive, available through AT&T CollaborateSM.
Key Target Audience
Finance Cloud Service Provider, Financial Institutes, Cloud Based Service Provider, Research Organizations, Government and Other Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.