Global Cloud Adoption in Banking Market Size is predicted to raise a 16.5% CAGR during the forecast period for 2025-2034.
Cloud adoption in banking represents the industry's growing reliance on cloud computing. This movement is about banks bringing their digital banking services to the next level by storing data and applications on the cloud. The purpose is to make financial services more innovative, flexible, and administratively efficient. The quicker and easier resource scalability, more trust in cloud security, more effective regulatory norms, and a digitally transformed world fuel the expansion of the worldwide market for cloud adoption in banking.
Furthermore, because of the necessity for improved security measures and to comply with regulations, banks are increasingly turning to cloud solutions, which provide strong data protection and disaster recovery capabilities. Cloud computing allows for the quick rollout of new services and apps to suit the changing demands of customers, which is another innovation that banks are driven to make in response to the competitive market in the coming years. However, market growth is hampered by the anticipation of rising security concerns; the frequency of data breaches has made security a major concern for cloud providers. The delicate nature of financial data necessitates stringent security measures, so banks are cautious about fully adopting cloud solutions in banking. The global market of cloud adoption in banking banks' efforts to collaborate and innovate was sped up by the pandemic, which prompted the use of analytics solutions, programming platforms, and cloud-based collaboration tools. The introduction of cloud computing has enabled banks to develop new digital products & services in a speedy manner.
Cloud adoption in the banking market is segmented based on end-user and type. Based on end-users, the market is segmented into retail banks, commercial banks, investment banks, credit unions, and regulatory bodies. By type, the market is segmented into cloud identity and access management software, cloud intrusion detection and prevention system, cloud email security software, cloud encryption software, and cloud network security software.
The investment banks' cloud adoption in banking is predicted to have a significant portion of the worldwide market. The segment is experiencing expansion because of the need for state-of-the-art technological solutions in immediate analytics, risk control, and regulation in the data-intensive and ever-changing setting of investment banks. The segment is expected to grow even more due to the collaboration between market players and investment banks.
The cloud identity and access management software segment is expected to expand quickly in the global market because it enhances safety and conformity with regulations. Critical for protecting sensitive financial data, cloud identity, and access management software systems allow for centralized control over user access, authentication, and authorization. Ensuring secure and compliant cloud operations, cloud identity, and access management software are expected to consolidate their position in the market further, which is of the highest priority to banks due to their emphasis on robust security measures.
The North American cloud adoption in the banking market is anticipated to provide the highest revenue share in the near future. It can be attributed to the large technological infrastructure, a high level of digital literacy, a robust legal framework that supports cloud services, and large cloud service providers in the area. In addition, Asia Pacific is projected to grow rapidly in the global cloud adoption in the banking market due to the rising population showing an increasing affinity for new technologies and the surge in initiatives aimed at digitally transforming the banking and financial sectors. Asia Pacific financial institutions are embracing cloud technology to enhance client service, flexibility, and quickness, which is driven by a growing economy and more technical awareness, which drive market expansion in the region.
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 16.5% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type And End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Google Cloud Platform, Salesforce, Vormetric Inc., Boxcryptor, Trend Micro, Sophos, Wave Systems, Microsoft Azure, Temenos, nCino, Oracle Corporation, Dell Technologies, Amazon Web Services, SAP SE, IBM Corporation, VMware and Other prominent players |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Cloud Adoption in Banking Market Snapshot
Chapter 4. Global Cloud Adoption in Banking Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Type:
5.2.1. Cloud Identity
5.2.2. Access Management Software
5.2.3. Cloud Email Security Software
5.2.4. Cloud Intrusion Detection
5.2.5. Prevention System
5.2.6. Cloud Encryption Software
5.2.7. Cloud Network Security Software
Chapter 6. Market Segmentation 2: by End-User Estimates & Trend Analysis
6.1. by End-User & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-User:
6.2.1. Retail Banks
6.2.2. Commercial Banks
6.2.3. Investment Banks
6.2.4. Credit Unions
6.2.5. Regulatory Bodies
Chapter 7. Cloud Adoption in Banking Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
7.1.2. North America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
7.1.3. North America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
7.2.2. Europe Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
7.2.3. Europe Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
7.3.2. Asia Pacific Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
7.3.3. Asia Pacific Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
7.4.2. Latin America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
7.4.3. Latin America Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
7.5.2. Middle East & Africa Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
7.5.3. Middle East & Africa Cloud Adoption in Banking Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Google Cloud Platform
8.2.2. Salesforce
8.2.3. Vormetric Inc.
8.2.4. Boxcryptor
8.2.5. Trend Micro
8.2.6. Sophos
8.2.7. Wave Systems
8.2.8. Microsoft Azure
8.2.9. Temenos
8.2.10. nCino
8.2.11. Oracle Corporation
8.2.12. Dell Technologies
8.2.13. Amazon Web Services
8.2.14. SAP SE
8.2.15. IBM Corporation
8.2.16. VMware
8.2.17. Other Prominent Players
Cloud Adoption in Banking Market By Type-
Cloud Adoption in Banking Market By End-User-
Cloud Adoption in Banking Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
