From GlobeNewswire: 2024-04-29 10:00:00

The global finance cloud market is growing, driven by increasing adoption of cloud solutions in financial institutions to improve efficiency, data security, and client experience. Cloud providers innovate to meet digital banking and regulatory demands. Cost optimization and efficiency are key drivers, shifting financial responsibility from CapEx to OpEx. Digital transformation accelerates market growth, especially in North America.

North America leads the global finance cloud market, with significant growth expected at 17.6% CAGR. Factors driving growth in the region include advanced financial infrastructure, technology adoption, cost-effectiveness, regulatory compliance, and real-time data analytics. The market is valued at USD 22.81 billion in 2022, projected to reach USD 91.5 billion by 2031 with a CAGR of 18.3%.

Amazon Web Services (AWS) becomes Bank of America’s preferred cloud provider for core banking applications. Cisco acquires Slack Technologies to create a unified collaboration platform. Segmentation of the finance cloud market includes deployment options like public, private, and hybrid cloud, solutions such as financial forecasting, CRM, wealth management, payment processing, service models, organization sizes, and end-users like banking, insurance, and more.

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Read more at GlobeNewswire: Global Finance Cloud Market Size To Exceed USD 91.5 billion