Cloud Computing in Banking - Thematic Intelligence (2024)

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.

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)

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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

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Leading Cloud Computing Adopters in Banking

Some of the leading banking companies that are currently deploying cloud computing:

• Bank of America
• Barclays
• BBVA

Leading Cloud Computing Vendors

Some of the leading vendors in the cloud computing theme:

• Alibaba
• Alphabet (parent company of Google)
• Amazon

Specialist Cloud Computing Vendors in Banking

Some of the specialist cloud computing vendors in the banking sector:

• Avaloq
• Apprenda
• FIS

To know more about theleading 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

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Scope

• 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.