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Classified in: Science and technology
Subject: MRR

Private and Public Cloud Market Size in the Financial Services Industry to Increase by USD 90,175.21 Million: 37% Growth to Originate from North America - Technavio

NEW YORK, Nov. 26, 2022 /PRNewswire/ -- The private and public cloud market in the financial services industry by service type, deployment, and geography - forecast and analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 18.81% and register an incremental growth of USD 90,175.21 million during the forecast period. The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a Free PDF Sample Report

Regional Analysis

Based on region, the global private and public cloud market in the financial services industry is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. North America is estimated to contribute 37% to the growth of the global market over the forecast period. The major users of cloud computing services in the region are the banking, financial services, insurance, e-commerce, and telecommunications sectors.

Company Profiles

The private and public cloud market in the financial services industry report includes information on the key products and recent developments of leading vendors, including:

Market Dynamics

The market is driven by factors such as the growing demand for virtually unlimited storage and big data, increased focus on cost optimization and scaling computation, and high focus on sustainability using green IT. However, data security and privacy are hindering market growth.

Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Request a Sample

Market Segmentation
Related Reports:

The public cloud services market size is projected to grow by USD 221.84 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 19%. The increasing adoption of IoT, ML, and big data is notably driving the public cloud services market growth, although factors such as vendor lock-ins may impede market growth.

The cloud storage services market size is projected to grow by USD 79.89 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.43%. The rising enterprise mobility and the need to improve efficiency are notably driving the market growth, although factors such as vendor lock-in issues may impede the market growth.

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What are the key data covered in this private and public cloud market in the financial services industry report?

Private and Public Cloud Market in the Financial Services Industry Scope

Report Coverage


Page number


Base year


Historic period


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 18.81%

Market growth 2023-2027

USD 90,175.21 million

Market structure


YoY growth (%)


Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Companies profiled

Accenture Plc, Acumatica Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Eze Castle Integration Inc., Fiserv Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Jack Henry and Associates Inc., Microsoft Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce.com Inc., VMware Inc., and Oracle Corp.

Market Dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Information Technology Market Reports

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Service Type

7 Market Segmentation by Deployment

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

SOURCE Technavio

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