Market 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
|Published by||MarketsandMarkets||Product code||408585|
|Published||Content info||144 Pages
Delivery time: 1-2 business days
|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|
|Published: December 9, 2016||Content info: 144 Pages||
"Business Agility and focus, Green IT, and increasing demand for Customer management is expected to drive the overall market"
The finance cloud market size is estimated 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% due to need for business agility, Green IT and better customer management. However, protection of Intellectual property rights (IPR) and strict Regulatory Compliances are the major restraint in the overall growth of the market.
The implementation of financial forecasting among financial institutions is expected to grow with the highest CAGR during the forecast period. Financial forecasting evaluates future revenue, expenditure trends and guide policy decisions based on past, current, and projected financials. The factors driving this sector are reduced cost in infrastructure maintenance as well as increased efficiency and convenience while developing agile forecasts to solve enterprise-wide business planning use cases.
The professional services market in service segment of finance cloud market is estimated to have the largest market share. Professional services are important to manage the lifecycle of a solution which includes training & consulting and support & maintenance. Consulting assists in choosing best possible solutions and services for finance cloud framework and the support & maintenance services deliver cost effective support for technical queries. Major factors impacting the professional service market is effective workforce engagement with low attrition.
APAC is expected to grow with the highest rate during the forecast. Financial firms in the APAC are facing high pressure to increase agility, improve efficiency with digital transformation due to increasing expectation of the customer and high competition with the established players. This creates an opportunity for the finance cloud solution and service providers. North America is expected to hold the largest market share and dominate the finance cloud market in 2016, due to the Increasing demand for retail banking, greater efficiency of SaaS based solution in the front office, compliance management and relaxation in government policies.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.
The list of finance cloud vendors profiled in the report is as follows:
The global finance cloud market has been segmented on the basis of solution, service, application, deployment model, organization size, sub domain and regions. The various types of analysis covered in the study includes finance cloud ecosystem, value chain analysis, competitive landscaping, and DROC analysis.
The report will help the market leaders/new entrants in this market in the following ways:
*Details on Business Overview, Applications Offered, Recent Developments, MnM View, Key Strategies, SWOT Analysis might not be captured in case of unlisted companies.