From GlobeNewswire: 2024-04-01 15:30:00

Custom Market Insights released a report on the Cloud Based Financial Platform Market, predicting growth from approximately USD 145.2 Billion in 2023 to expected values of USD 160.9 Billion in 2024 and around USD 405.1 Billion by 2033, at a CAGR of 10.8%. Factors include digital transformation, cost efficiency, data security, remote work enablement, analytics integration, globalization, and faster innovation deployment.

Cloud-based financial platforms are on the rise due to digital transformation in finance, offering agility and efficiency. Cost efficiency and scalability drive adoption, along with enhanced data security and compliance. Remote workforce enablement and advanced analytics integration are key trends, supporting faster innovation deployment and market expansion. Major players like Avaloq, Google, and SAP are strengthening partnerships and acquisitions to enhance services.

The COVID-19 pandemic has accelerated the digital transformation in the Cloud Based Financial Platform Market, emphasizing cost efficiency, cybersecurity, resilience, collaboration, and integration of advanced technologies like AI. The crisis has led to increased demand for cloud solutions that support remote work, strategic planning, decision-making, and global operations. Post-pandemic recovery includes a focus on hybrid cloud models for flexibility and control over financial data.



Read more at GlobeNewswire: [Latest] Global Cloud Based Financial Platform Market