Cloud Computing in Banking – Thematic Intelligence
All the vital news, analysis, and commentary curated by our industry experts.
Cloud Computing in Banking Theme Analysis Report Overview
The advantages of using cloud computing in banking industry are extensive. It helps companies to modernize infrastructure, scale operations, improve resiliency, reduce costs, and build new revenue streams and services. Cloud-based systems have helped banks adapt to the rise in remote working, increased customer app use, and associated security and fraud risks.
The cloud computing in banking thematic intelligence report assesses how banking, combined with other emerging technologies, can be used across the banking value chain. It provides an overview of the current landscape, as well as key players, while also highlighting opportunities for the use of banking in the future.
|Value Chain Components||Cloud Infrastructure, Cloud Services, and Cloud Professional Services|
|Leading Cloud Computing Adopters||Bank of America, Barclays, and BBVA|
|Leading Cloud Computing Vendors||Alibaba, Alphabet (parent company of Google), and Amazon|
|Specialist Cloud Computing Vendors||Avaloq, Apprenda, and FIS|
Cloud Computing in Banking - Data Analysis
The total global spending by retail banks on IaaS, PaaS, and SaaS was $20.9 billion in 2021. The market is expected to achieve a CAGR of more than 22% between 2021 and 2026. SaaS represents the largest portion of global cloud services revenue and will maintain this dominance over the coming years.
Cloud computing in banking data analysis also covers:
- Mergers and acquisitions
- Patent trends
- Company filings trends
- Hiring trends
- Cloud computing timeline
Global Cloud Service Revenue in Retail Banking, 2021-2026 ($billion)
For more insights into the cloud computing in banking revenue forecast, download a free report sample
Cloud Computing in Banking- Value Chain Analysis
The cloud computing value chain consists of three segments- cloud infrastructure, cloud services, and cloud professional services.
Cloud services (PaaS and IaaS)
In the IaaS and PaaS markets, traditional IT stack infrastructure vendors, specializing in everything from databases and operating systems to virtualization, computing, storage, and networking, face competition from public cloud service providers. The latter use subscription-based, pay-as-you-use business models to offer a full portfolio of IT infrastructure, as well as tools and platforms for application developers. Despite their incumbency, many traditional IT infrastructure vendors, including DXC Technology, Dell, and Fujitsu, now offer cloud-based, IT-as-a-service options alongside traditional IT solutions. That said, they focus on hybrid cloud architectures, providing and managing their own infrastructure on-premise and partnering with the likes of Amazon, Microsoft, and Alphabet for the public cloud workloads. This puts them in an interesting position as both incumbent IT vendors and cloud-based disruptors for IaaS and PaaS.
Cloud services (SaaS): Enterprise resource planning (ERP), customer relationship management (CRM) software, as well as specialist software for different vertical segments, is now mostly cloud-based. Players in the SaaS space use subscription-based, pay-as-you-use business models to provide traditional business software.
Cloud Computing Value Chain Analysis
For more insights into the cloud computing value chain, download a free report sample
Leading Cloud Computing Adopters in Banking
Some of the leading banking companies that are currently deploying cloud computing:
- Bank of America
Leading Cloud Computing Vendors
Some of the leading vendors in the cloud computing theme:
- Alphabet (parent company of Google)
Specialist Cloud Computing Vendors in Banking
Some of the specialist cloud computing vendors in the banking sector:
To know more about the leading cloud computing vendors, adopters, and specialist vendors in banking industry, download a free report sample
Retail Banking Sector Scorecard
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our retail banking sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.
- The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
- The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
- The risk screen ranks companies within a particular sector based on overall investment risk.
Retail Banking Sector Scorecard – Thematic Screen
To know more about the retail banking sector scorecards, download a free report sample
- According to GlobalData forecasts, global spending by retail banks on cloud computing in 2022 amounted to more than $38 billion.
- GlobalData’s Enterprise ICT Investment Trends 2022 survey found that most retail banks already have considerable exposure to cloud infrastructure and are continuing with their cloud implementations.
- The cloud can offer quick and agile deployment of cybersecurity. A bank can outsource its cybersecurity management at a lower cost by using cloud managed services. Cloud can also help banks to standardize their processes and data management.
Reasons to Buy
- Determine potential investment companies based on trend analysis and market projections.
- Gain an understanding of the market challenges and opportunities surrounding the cloud computing theme.
- Learn how spending on cloud will fit into the overall market and which spending areas are being prioritized.
Bank of America
Hi Sun FinTech Global
Bank of America
IBM (Red Hat)
National Bank of Australia
Table of Contents
- 1. Executive Summary
- 2. Cloud Computing Value Chain
- 2.1. Cloud services (PaaS and IaaS)
- 2.2. Cloud services (SaaS)
- 2.3. Cloud professional services
- 3. Banking Challenges
- 4. The Impact of Cloud Computing on Banking
- 5. Case Studies
- 6. Data Analysis
- 6.1. Market size and growth forecasts
- 6.2. Mergers and acquisitions
- 6.3. Patent trends
- 6.4. Company filings trends
- 6.5. Hiring trends
- 6.6. Cloud computing timeline
- 7. Companies
- 7.1. Leading cloud computing adopters in banking
- 7.2. Leading cloud computing vendors
- 7.3. Specialist cloud computing vendors in banking
- 8. Sector Scorecard
- 8.1. Retail banking sector scorecard
- 9. Glossary
- 10. Further Reading
- 11. Our Thematic Research Methodology
- 12. About GlobalData
- 13. Contact Us
Frequently asked questions
What are the key components of the cloud computing value chain?
The cloud computing value chain consists of three segments which are cloud infrastructure, cloud services, and cloud professional services.
Who are the leading cloud computing adopters in the banking industry?
Some of the leading banking companies that are currently deploying cloud computing are Bank of America, Barclays, and BBVA.
Who are the leading cloud computing vendors in the banking industry?
Some of the leading vendors in the cloud computing theme are Alibaba, Alphabet (parent company of Google), and Amazon.
Who are the specialist cloud computing vendors in the banking industry?
Some of the specialist cloud computing vendors in the banking sector are Avaloq, Apprenda, and FIS.
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