PUBLISHER: The Business Research Company | PRODUCT CODE: 1539748
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539748
Multi-cloud networking within the fintech sector involves strategically utilizing multiple cloud computing services and platforms to optimize network infrastructure and enhance operational capabilities. This approach enables fintech companies to capitalize on diverse cloud provider strengths, distributing workloads, improving resilience, and ensuring regulatory compliance.
Key elements of multi-cloud networking in fintech encompass solutions and services. These include software and tools designed to manage, optimize, and secure multiple cloud services across various providers. Deployment models vary, encompassing public, private, and hybrid clouds tailored to different organizational sizes such as SMEs and large enterprises. End-users benefiting from these solutions range from banks and financial institutions to payment service providers, insurance companies, and investment firms.
The multi-cloud networking in fintech market research report is one of a series of new reports from The Business Research Company that provides multi-cloud networking in fintech market statistics, including multi-cloud networking in fintech industry global market size, regional shares, competitors with multi-cloud networking in fintech market share, detailed multi-cloud networking in fintech market segments, market trends and opportunities, and any further data you may need to thrive in the multi-cloud networking in fintech industry. This multi-cloud networking in fintech market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The multi-cloud networking in fintech market size has grown exponentially in recent years. It will grow from $0.53 billion in 2023 to $0.64 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. During the historic period, growth was driven by the increasing adoption of cloud applications and services, which heightened demand for enhanced security and compliance measures. Additionally, advancements in cloud computing services and improvements in API capabilities contributed to this growth.
The multi-cloud networking in fintech market size is expected to see exponential growth in the next few years. It will grow to $1.39 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. In the forecast period, growth is anticipated to stem from the prioritization of customer data security and privacy, along with the adoption of multi-cloud strategies for cost optimization. Advances in cloud technology and regulatory compliance efforts will also play significant roles. Key trends in this period include the integration of advanced security measures, incorporation of artificial intelligence (AI) and machine learning (ML) algorithms, expanding adoption of multi-cloud networking, alignment with DevOps practices, and an increasing emphasis on achieving seamless interoperability and integration.
The increasing adoption of cloud computing is expected to drive the growth of multi-cloud networking within the fintech sector in the future. Cloud computing involves delivering diverse services over the internet, allowing users to access resources on demand without direct management. This adoption is driven by scalability, cost-effectiveness, flexibility, support for innovation, and robust disaster recovery and security features. In fintech, cloud computing facilitates multi-cloud networking by utilizing multiple cloud providers to enhance performance, security, and regulatory compliance. For example, in December 2023, the European Union reported a 4.2 percentage point increase in EU businesses purchasing cloud computing services compared to 2021, indicating a growing trend. Hence, the rising adoption of cloud computing is propelling the expansion of multi-cloud networking in the fintech market.
Leading companies in the multi-cloud networking in fintech market are focusing on developing innovative solutions such as multi-cloud platforms. These platforms integrate environments that enable organizations to manage and deploy applications and workloads across various cloud computing services and platforms. For instance, in November 2022, eFinance Investment Group (EFIG), in collaboration with 13 global tech companies, introduced Egypt's largest multi-cloud platform at the Cairo ICT 2022 exhibition. This platform integrates advanced global technologies supporting digital transformation across sectors. Key features include secure computing, digital services, cloud platforms, cybersecurity tools, AI, and big data processing. Designed to support the Central Bank of Egypt's digital transformation initiatives, the platform assists digital banks and fintech startups in complying with industry standards for digital transactions.
In April 2024, IBM Corporation, a US-based technology company, completed the acquisition of HashiCorp, Inc. for $6.4 billion. This strategic move is aimed at bolstering IBM's capabilities in infrastructure and security lifecycle management. The acquisition enables IBM to offer advanced automation solutions for hybrid and multi-cloud environments, catering to diverse sectors including financial services. HashiCorp Inc., based in the US, specializes in developing hybrid and multi-cloud solutions that streamline operations and enhance security for organizations.
Major companies operating in the multi-cloud networking in fintech market are Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Google Cloud, VMware Inc., Equinix Inc., Palo Alto Networks, Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., Cloud Software Group Inc., Akamai Technologies, F5 Inc., Nutanix, Zscaler, Cloudflare Inc., Versa Networks inc., Megaport, Aviatrix, NetFoundry
North America was the largest region in the multi-cloud networking in fintech market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-cloud networking in fintech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the multi-cloud networking in fintech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The multi-cloud networking in the fintech market includes revenues earned by real-time transaction processing and regulatory compliance solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multi-Cloud Networking In Fintech Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multi-cloud networking in fintech market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multi-cloud networking in fintech ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multi-cloud networking in fintech market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.