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Global Cloud Computing Banking Market Size study, by Service Model, by Deployment Mode, by Application and Regional Forecasts 2022-2032

Global Cloud Computing Banking Market Size study, by Service Model,...

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Global Cloud Computing Banking Market Size study, by Service Model, by Deployment Mode, by Application and Regional Forecasts 2022-2032
Global Cloud Computing Banking Market...
Report Code
RO9/103/2223

Publish Date
08/Aug/2024

Pages
200
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Global Cloud Computing Banking Market is valued at approximately USD 79.02 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 16.37% over the forecast period 2024-2032. Cloud computing refers to the on-demand availability of computer system resources, particularly data storage and computing power, without requiring user management of these resources. Large cloud systems distribute functions across multiple locations, functioning as data centers. These systems have significantly supported banks in managing the rise of remote working, increased customer app usage, and associated security and fraud risks.

The Global Cloud Computing Banking Market is driven by escalating adoption of cloud-based fintech solutions by banks and the growing popularity of advanced technologies are propelling the global cloud computing banking market's growth. In addition, the rising implementation of digital transformation technologies is positively impacting market growth. Moreover, the growing adoption of AI-based banking systems is expected to provide lucrative opportunities for market expansion during the forecast period. However, the market faces challenges due to a lack of technical proficiency in implementing cloud solutions and increasing security concerns.

The key regions considered for the Global Cloud Computing Banking Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America dominated the cloud computing banking market share and is expected to maintain its position throughout the forecast period due to increased adoption of cloud solutions by small and medium enterprises. Furthermore, the Asia-Pacific region is projected to experience significant growth due to the increasing adoption of web-based and mobile-based business applications in the banking sector.

Major market players included in this report are:
IBM Corporation
Alibaba Cloud Computing Ltd.
Amazon Web Services
SAP SE
Oracle Corporation
Salesforce.com Inc.
Dell Technologies
VMware
Microsoft Corporation
Google LLC
The detailed segments and sub-segment of the market are explained below:
By Service Model:
Infrastructure as a service (IaaS)
Platform as a service (PaaS)
Software as a service (SaaS)
By Deployment Mode:
Public Cloud
Private Cloud
Hybrid Cloud
By Application:
Fraud Detection and Prevention
Customer Relationship Management (CRM)
Human Resource Management
Core Banking
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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