LONDON, Dec. 19, 2016 /PRNewswire/ -- "Business Agility and focus, Green IT, and increasing demand for Customer management is expected to drive the overall market" The finance cloud market size is estimated to grow from USD 9.89 billion in 2016 to USD 29.47 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 24.4% due to need for business agility, Green IT and better customer management. However, protection of Intellectual property rights (IPR) and strict Regulatory Compliances are the major restraint in the overall growth of the market.
Financial Forecasting is expected to be the most promising solution during the forecast period
The implementation of financial forecasting among financial institutions is expected to grow with the highest CAGR during the forecast period. Financial forecasting evaluates future revenue, expenditure trends and guide policy decisions based on past, current, and projected financials. The factors driving this sector are reduced cost in infrastructure maintenance as well as increased efficiency and convenience while developing agile forecasts to solve enterprise-wide business planning use cases.
Professional Service market is estimated to dominate the finance cloud market share during the forecast period.
The professional services market in service segment of finance cloud market is estimated to have the largest market share. Professional services are important to manage the lifecycle of a solution which includes training & consulting and support & maintenance. Consulting assists in choosing best possible solutions and services for finance cloud framework and the support & maintenance services deliver cost effective support for technical queries. Major factors impacting the professional service market is effective workforce engagement with low attrition.
"APAC is projected to witness highest growth during the forecast period and North America is expected to hold the largest market share during the forecast period"
APAC is expected to grow with the highest rate during the forecast. Financial firms in the APAC are facing high pressure to increase agility, improve efficiency with digital transformation due to increasing expectation of the customer and high competition with the established players. This creates an opportunity for the finance cloud solution and service providers. North America is expected to hold the largest market share and dominate the finance cloud market in 2016, due to the Increasing demand for retail banking, greater efficiency of SaaS based solution in the front office, compliance management and relaxation in government policies.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.
- By Company Type: Tier-1 (35%), Tier-2 (42%), and Tier-3 (23%) companies
- By Designation: C-level (42%), Director Level (37%), and Others (21%)
- By Region: North America (51%), Europe (29%), APAC (15%), and Rest of World (5%)
The list of finance cloud vendors profiled in the report is as follows:
1. Oracle Corporation (California, U.S.)
2. Google, Inc. (California, U.S.)
3. International Business Machines (California, U.S.)
4. Corporation (New York, U.S.)
5. Amazon Web Services Inc. (Washington, U.S.)
6. SAP SE Inc. (Walldorf, Germany)
7. Computer Sciences Corporation (Virginia, U.S)
8. Microsoft Corporation (Washington, U.S.)
9. Salesforce.com (California, U.S.)
10. Huawei Technologies Co., Ltd (Guangdong, China)
11. Capgemini (Paris, France).
The global finance cloud market has been segmented on the basis of solution, service, application, deployment model, organization size, sub domain and regions. The various types of analysis covered in the study includes finance cloud ecosystem, value chain analysis, competitive landscaping, and DROC analysis.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the finance cloud market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
Download the full report: https://www.reportbuyer.com/product/4477041/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/finance-cloud-market-by-solution-service-application-deployment-model-organization-size-vertical-region---global-forecast-to-2021-300381592.html