According to a research report "Finance Cloud Market by Offering (Solutions (Financial Forecasting, Financial Reporting & Analysis, Security, GRC) and Services), Application, Deployment Model, Organization Size (Large Enterprises, SMEs), End User and Region - Global Forecast to 2028" published by MarketsandMarkets, the Finance Cloud market size is expected to grow from USD 135.6 billion in 2023 to USD 268.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. Demand for tailored solutions and an urge for tightened security and accessibility with efficient disaster recovery solutions and techniques will likely boost the adoption of Finance Cloud globally.
Browse 260 market data Tables and 55 Figures spread through 276 Pages and in-depth TOC on "Finance Cloud Market by Offering (Solutions (Financial Forecasting, Financial Reporting & Analysis, Security, GRC) and Services), Application, Deployment Model, Organization Size (Large Enterprises, SMEs), End User and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/finance-cloud-market-1053.html
Based on end-user, insurance companies will record the highest CAGR in the Finance Cloud market during the forecast period.
Insurance companies increasingly use finance cloud technology to improve operations and customer interactions. By adopting finance cloud solutions, these companies can streamline processes, manage data more efficiently, and enhance overall customer experiences. With cloud-based platforms, insurers can handle policy administration, claims processing, and underwriting procedures more effectively while reducing operational costs and increasing responsiveness to policyholders.
By Application, the revenue management segment holds the largest market share during the forecast period.
Revenue management is a process that involves using cloud-based technologies and software solutions to optimize an organization’s revenue generation strategies. These solutions analyze financial data, customer behavior, market trends, and pricing models to maximize revenue potential. By utilizing the Cloud’s scalability and real-time data processing capabilities, finance professionals can make data-driven decisions concerning pricing, product offerings, and sales strategies. Revenue management within the finance cloud helps businesses identify opportunities for revenue growth, improve profitability, and quickly adapt to changing market conditions. It is essential for financial institutions and companies that want to optimize their revenue streams and stay competitive.
By region, the Middle East & Africa region recorded the second-highest CAGR during the forecast period.
The countries in the Middle East are embracing technological advancements and investing in knowledge-based economies. Saudi Arabia and the UAE are leading the way by adopting edge and cloud computing, resulting in their dominance in development. With the growth of their customer bases, Middle Eastern organizations are focusing on generating revenues, and outsourcing to third-party managed service providers is a profitable option; this has led to accelerating Finance cloud adoption in the region to reduce costs and save time. Key players like Cisco, Microsoft, IBM, Google, and SAP are working significantly to register a better market share by increasing consumer satisfaction, decreasing product prices, and improving productivity.
Many edge and cloud computing companies have launched data centers in the Middle East and Africa to accelerate edge adoption. For example, Microsoft opened its data centers in Cape Town and Johannesburg in May 2019 and Abu Dhabi and Dubai in June 2019, offering access to cloud computing and edge services locally.
Some of the key players operating in the Finance Cloud market are – AWS (US), Microsoft (US), Google (US), IBM (US), Salesforce (US), Tencent (China), Oracle (US), Alibaba (China), Workday (US), SAP (Germany), HPE (US), VMware (US), Cisco (US), Huawei (China), ServiceNow (US), DXC technology (US), SAGE Group (UK), Snowflake (US), Nutanix (US), Acumatica (US), RapidScale (US), AtemisCloud (US), Rambase (Norway), OVHcloud (France).
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441