Financial services
are the services offered by the Financial sector that help credit companies,
insurance companies, accounts companies banks, and investment funds, and
certain finance firms manage capital. Changing technology assists in the growth
of the Financial Services industry. Cloud computing, for instance, when used in
the industry, helps reduce ongoing operational costs. Other benefits of cloud
computing also includes its ability to help financial industries gain better
reach and customers in the market. Both private and public cloud solutions are
used in the Financial Services industry. Private cloud solutions are used more
often by financial institutions as they offer better security and can be
customized in comparison to public cloud solutions. This factor will lead to
the increased growth of the Financial Services industry in 2018.
Analysts forecast
the Global Private
and Public Cloud Market in Financial Services to grow at a CAGR of 24.85 percent over the period 2013-2018.
The Report recognizes
the following companies as the key players in the Global Private and Public
Cloud Market in Financial Services Industry are: Accenture plc, Fujitsu Ltd.,
IBM Corp. and Infosys Technologies Ltd.
Other Prominent
Vendors in the market are: Amazon Web Services, Capgemini, Cisco, Dimension
Data, EMC, HP and Unisys.
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.
Covered in this Report
This report covers
the present scenario and the growth prospects of the Global Private and Public
Cloud market in Financial Services Industry for the period 2013-2018. To
calculate the market size, the report considers revenue generated from SaaS,
IaaS, PaaS, and BPaaS for the private and public cloud. It also presents the
vendor landscape and a corresponding detailed analysis of the top four vendors
in the market. In addition, the report discusses the major drivers that influence
the growth of the Global Private and Public Cloud market in Financial Services
Industry. It also outlines the challenges faced by vendors and the market at
large, as well as the key trends that are emerging in the market.
According to the
report, cloud computing's ability to reduce costs is one major driver in the
market. By adopting private and public cloud services, enterprises reduce
capital and operational expenditure. Services are procured through the
internet, which is economically beneficial for enterprises.
Further, the report
states that one of the challenges that market faces are the high initial costs
of private cloud solutions. Vendors need to restructure enterprise
infrastructures and procure virtualization applications before adopting private
clouds. A change is also required in the application delivery models, which
makes it difficult for end-users to adjust to the new methodologies to optimize
their performance.
