Finance Cloud Market Revenues to expand 29.47 Billion USD by 2021
According to a research report "Finance Cloud Market by Solution
(Financial Reporting and Analysis, Security, Governance, Risk and Compliance),
Service, Application, Deployment Model, Organization Size, Vertical, Region -
Global Forecast to 2021", The finance cloud market
size is expected to grow from USD 9.89 Billion in 2016 to USD 29.47 Billion by
2021, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast
period. The major drivers of this market include need for business agility and
focus, green IT and increasing need for customer management.
Browse 65 market data tables and 56
figures spread through 143 pages and in-depth TOC on “Finance Cloud Market
by Solution (Financial Reporting and Analysis, Security, Governance, Risk and
Compliance), Service, Application, Deployment Model, Organization Size,
Vertical, Region - Global Forecast to 2021”
Professional
Service market is estimated to dominate the finance cloud market share during
the forecast period.
The professional services segment is estimated to have the largest
market share in the finance cloud market. The organizations focus on offering
specialized services to achieve greater customer experience, achieving
operation efficiency at a reduced cost and time is driving the demand for
finance cloud services across the globe. The finance cloud market is growing at
an exponential rate since most of the players are focusing on providing
specialized services for the market. Rapid growing demand for customer
satisfaction with better and faster support and its reliable and efficient
integration are some of the other drivers impacting the services market.
Customer
Management is expected to grow at high CAGRs during the forecast period.
The customer management application of finance cloud market is
witnessing a potential growth in comparison to the other applications owing to
the benefits it offers such as lowered costs, improved productivity, advanced
data analytics and much more. The financial services, banking and Insurance
companies are opting for this application to quickly address customer queries
and concerns, keeping in minds the long term benefits and achieving a
competitive advantage. The major players in this market are Amazon web Services
(AWS), Oracle, SAP, Google, IBM, Computer Sciences Corporation (CSC), Microsoft
Corporation and Salesforce.com.
North America
is the leading region in terms of market share in the finance cloud market
space.
North America is expected to hold the largest market share and dominate
the finance cloud market in 2016, due to the larger internet penetration rate
and strong economy that has shifted isolated infrastructure to cloud in the
region. APAC is expected to grow at the highest rate during this forecast
period. Reduce CapEx spending, low IT management complexity, improved agility
and security are some of the major driving factors contributing to the growth
of cloud computing in the North America.
The major vendors covered in the finance cloud market for the study are
Oracle Corporation (California, U.S.), Google, Inc. (California, U.S.),
International Business Machines (California, U.S.), Corporation (New York,
U.S.), Amazon Web Services Inc. (Washington, U.S.), SAP SE Inc. (Walldorf,
Germany), Computer Sciences Corporation (Virginia, U.S), Microsoft Corporation
(Washington, U.S.), Salesforce.com (California, U.S.), Huawei Technologies Co.,
Ltd (Guangdong, China) and Capgemini (Paris, France).
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Source: https://www.marketsandmarkets.com/PressReleases/finance-cloud.asp
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