Market Overview:
The global cloud computing in retail banking market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based services by small and medium-sized enterprises (SMES) and personal users. Additionally, the growing trend of digitalization is also fueling the demand for cloud-based services in retail banking sector. Public clouds are expected to hold a dominant position in the global cloud computing in retail banking market during the forecast period, owing to their low cost and easy accessibility. Private clouds are projected to witness high growth rates due their advantages such as security and control over data.
Product Definition:
Cloud Computing is the use of remote servers hosted on the internet to store, manage and process data. The importance of Cloud Computing in Retail Banking is that it allows banks to access their data from anywhere in the world, which can help them make better decisions about their customers' needs. Additionally, cloud-based systems are often more secure than traditional systems because they have multiple layers of protection.
Public Clouds:
Public cloud is a group of services that are provided by the providers to consumers over the internet. The major difference between private and public clouds is that in a private cloud, the information shared among the provider and consumer whereas in public cloud it's information available for everyone.
The major advantage of using this type of service is that there are no additional costs involved as all resources are already provisioned.
Private Clouds:
Private clouds are virtual private network (VPN) based on dedicated and switched networks. It is a cloud computing technology that provides secure data transfer over public internet connections. Private clouds ensure an organization's sensitive information is not accessible to other organizations or individuals via the internet.
Private clouds provide an organization with features such as disaster recovery, business continuity, and multi-regional support in addition to security services; all these features allow banking institutions to effectively meet regulatory compliance requirements while ensuring business agility.
Application Insights:
The personal cloud computing segment accounted for the largest revenue share in 2017 and is anticipated to continue its dominance over the forecast period. The growth can be attributed to increasing demand from end-users for a web-based application environment that offers various functionalities, such as e-mail, office productivity applications and online storage at a reduced cost. Furthermore, public clouds offer elasticity in terms of capacity expansion with minimal or no downtime which attracts numerous organizations across different industry verticals.
The family cloud computing segment is projected to witness significant growth over the forecast period owing to rising demand from joint account holders who have children. In this regard, private clouds are preferred by many large enterprises since they offer secure data storage facilities along with flexible infrastructure options that meet their specific requirements without having a huge investment on hand. Hybrid clouds provide an optimal blend of public and private cloud computing services wherein some resources are hosted on dedicated servers while others run through virtual machines running on shared servers.
Regional Analysis:
North America dominated the global market in 2017. The growth can be attributed to the presence of a large number of retail banks in this region, which is driving the demand for efficient banking solutions. Moreover, increasing investments by banks in cloud-based services are also expected to drive regional growth over the forecast period. For instance, Citigroup Inc., one of America's largest financial institutions has invested around USD X million from 2014 to 2016 for developing new applications and upgrading legacy systems with cloud computing capabilities.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing adoption by SMEs and rapid technological advancements such as Artificial Intelligence (AI), Machine Learning (ML) & Robotic Process Automation (RPA). Furthermore, growing regulatory support for promoting digitalization across various industries will further propel regional demand during forecast period.
Growth Factors:
- Increased demand for cloud-based banking solutions from small and medium-sized businesses (SMBs) due to the growing need for agility, scalability, and cost efficiency.
- Proliferation of digital channels (e.g., online banking, mobile banking) that are driving the migration of traditional banking services to the cloud.
- The increasing popularity of Software as a Service (SaaS) delivery model for Banking applications due to its pay-as-you-go pricing model and faster time to market advantages over traditional software licensing models.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cloud Computing in Retail Banking Market Research Report
By Type
Public Clouds, Private Clouds, Hybrid Clouds
By Application
Personal, Family, Small and Medium-Sized Enterprises (SMES)
By Companies
Amazon Web Services (AWS), Ellie Mae, IBM, Infosys, Intuit, Medidata, Microsoft, Oracle, Salesforce, SAP, TCS, Veeva Systems, Wipro, Workday, BBVA, Bankinter, Intel, Google, Alibaba, Tencent, Kingsoft, Ucloud, Baidu, Huawei, China Telecom, China Unicom
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
145
Number of Tables & Figures
102
Customization Available
Yes, the report can be customized as per your need.
Global Cloud Computing in Retail Banking Market Report Segments:
The global Cloud Computing in Retail Banking market is segmented on the basis of:
Types
Public Clouds, Private Clouds, Hybrid Clouds
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal, Family, Small and Medium-Sized Enterprises (SMES)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Amazon Web Services (AWS)
- Ellie Mae
- IBM
- Infosys
- Intuit
- Medidata
- Microsoft
- Oracle
- Salesforce
- SAP
- TCS
- Veeva Systems
- Wipro
- Workday
- BBVA
- Bankinter
- Intel
- Google
- Alibaba
- Tencent
- Kingsoft
- Ucloud
- Baidu
- Huawei
- China Telecom
- China Unicom
Highlights of The Cloud Computing in Retail Banking Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Public Clouds
- Private Clouds
- Hybrid Clouds
- By Application:
- Personal
- Family
- Small and Medium-Sized Enterprises (SMES)
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cloud Computing in Retail Banking Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cloud computing is a model of delivering software applications and services over the Internet. In retail banking, cloud computing can be used to deliver software applications and services such as customer relationship management (CRM), treasury management, fraud detection and prevention, automated teller machines (ATMs), online banking, and mobile banking.
Some of the major companies in the cloud computing in retail banking market are Amazon Web Services (AWS), Ellie Mae, IBM, Infosys, Intuit, Medidata, Microsoft, Oracle, Salesforce, SAP, TCS, Veeva Systems, Wipro, Workday, BBVA, Bankinter, Intel, Google, Alibaba, Tencent, Kingsoft, Ucloud, Baidu, Huawei, China Telecom, China Unicom.
The cloud computing in retail banking market is expected to register a CAGR of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cloud Computing in Retail Banking Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cloud Computing in Retail Banking Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cloud Computing in Retail Banking Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cloud Computing in Retail Banking Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cloud Computing in Retail Banking Market Size & Forecast, 2018-2028
4.5.1 Cloud Computing in Retail Banking Market Size and Y-o-Y Growth
4.5.2 Cloud Computing in Retail Banking Market Absolute $ Opportunity
Chapter 5 Global Cloud Computing in Retail Banking Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cloud Computing in Retail Banking Market Size Forecast by Type
5.2.1 Public Clouds
5.2.2 Private Clouds
5.2.3 Hybrid Clouds
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cloud Computing in Retail Banking Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cloud Computing in Retail Banking Market Size Forecast by Applications
6.2.1 Personal
6.2.2 Family
6.2.3 Small and Medium-Sized Enterprises (SMES)
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cloud Computing in Retail Banking Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cloud Computing in Retail Banking Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cloud Computing in Retail Banking Analysis and Forecast
9.1 Introduction
9.2 North America Cloud Computing in Retail Banking Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cloud Computing in Retail Banking Market Size Forecast by Type
9.6.1 Public Clouds
9.6.2 Private Clouds
9.6.3 Hybrid Clouds
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cloud Computing in Retail Banking Market Size Forecast by Applications
9.10.1 Personal
9.10.2 Family
9.10.3 Small and Medium-Sized Enterprises (SMES)
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cloud Computing in Retail Banking Analysis and Forecast
10.1 Introduction
10.2 Europe Cloud Computing in Retail Banking Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cloud Computing in Retail Banking Market Size Forecast by Type
10.6.1 Public Clouds
10.6.2 Private Clouds
10.6.3 Hybrid Clouds
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cloud Computing in Retail Banking Market Size Forecast by Applications
10.10.1 Personal
10.10.2 Family
10.10.3 Small and Medium-Sized Enterprises (SMES)
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cloud Computing in Retail Banking Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cloud Computing in Retail Banking Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cloud Computing in Retail Banking Market Size Forecast by Type
11.6.1 Public Clouds
11.6.2 Private Clouds
11.6.3 Hybrid Clouds
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cloud Computing in Retail Banking Market Size Forecast by Applications
11.10.1 Personal
11.10.2 Family
11.10.3 Small and Medium-Sized Enterprises (SMES)
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cloud Computing in Retail Banking Analysis and Forecast
12.1 Introduction
12.2 Latin America Cloud Computing in Retail Banking Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cloud Computing in Retail Banking Market Size Forecast by Type
12.6.1 Public Clouds
12.6.2 Private Clouds
12.6.3 Hybrid Clouds
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cloud Computing in Retail Banking Market Size Forecast by Applications
12.10.1 Personal
12.10.2 Family
12.10.3 Small and Medium-Sized Enterprises (SMES)
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cloud Computing in Retail Banking Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cloud Computing in Retail Banking Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cloud Computing in Retail Banking Market Size Forecast by Type
13.6.1 Public Clouds
13.6.2 Private Clouds
13.6.3 Hybrid Clouds
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cloud Computing in Retail Banking Market Size Forecast by Applications
13.10.1 Personal
13.10.2 Family
13.10.3 Small and Medium-Sized Enterprises (SMES)
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cloud Computing in Retail Banking Market: Competitive Dashboard
14.2 Global Cloud Computing in Retail Banking Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Amazon Web Services (AWS)
14.3.2 Ellie Mae
14.3.3 IBM
14.3.4 Infosys
14.3.5 Intuit
14.3.6 Medidata
14.3.7 Microsoft
14.3.8 Oracle
14.3.9 Salesforce
14.3.10 SAP
14.3.11 TCS
14.3.12 Veeva Systems
14.3.13 Wipro
14.3.14 Workday
14.3.15 BBVA
14.3.16 Bankinter
14.3.17 Intel
14.3.18 Google
14.3.19 Alibaba
14.3.20 Tencent
14.3.21 Kingsoft
14.3.22 Ucloud
14.3.23 Baidu
14.3.24 Huawei
14.3.25 China Telecom
14.3.26 China Unicom
