- The Global Private and Public Cloud in Financial Services market is expected to grow at a CAGR of 24.85 percent over the period 2013-2018.
London, 06 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Private and Public Cloud Market in Financial Services Industry 2014-2018. The report analyzes that the Global Private and Public Cloud market in Financial Services industry shows immense potential for growth during the forecast period. One of the major trends in the market is the increased mobilization of applications. Employees currently use their own cellphones in the corporate environment. In addition, organizations provide better infrastructure facilities for employees to use private and public clouds for sharing information and using that particular information for business purposes.
The Global Private and Public Cloud market in Financial Services industry is witnessing the entrance of many service providers that provide advanced and innovative solutions. These solutions can be classified into the SaaS, PaaS, IaaS, and DBaaS-based categories. The ability of the cloud to reduce infrastructure management costs and operational costs associated with enterprise infrastructure is leading to its high adoption rates in the Financial Services industry.
“The Financial Services industry is growing and witnessing rapid changes with the growth in technology and research. Most banking institutions are ready to invest in cloud solutions as they are cost-effective and offer easy access to the information stored in data centers,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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