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Private and Public Cloud Market in Financial Services to Grow by USD 106.43 Billion (2024-2028), Driven by Big Data and AI-Influenced Market Trends – Technavio

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NEW YORK, Dec. 10, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The private and public cloud market in the financial services industry size is estimated to grow by USD 106.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  19%  during the forecast period. Growing demand for virtually unlimited storage and big data is driving market growth, with a trend towards development of openstack. However, data security and privacy issues in the private and public cloud in financial services poses a challenge. Key market players include Akamai Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Equinix Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., NetApp Inc., Oracle Corp., Rackspace Technology Inc., Salesforce Inc., SAP SE, SS and C Technologies Holdings Inc., Temenos AG, and VMware Inc..

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Private And Public Cloud Market In The Financial Services Industry Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 19%

Market growth 2024-2028

USD 106.43 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

17.27

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, Canada, China, UK, and Germany

Key companies profiled

Akamai Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Equinix Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., Microsoft Corp., NetApp Inc., Oracle Corp., Rackspace Technology Inc., Salesforce Inc., SAP SE, SS and C Technologies Holdings Inc., Temenos AG, and VMware Inc.

Market Driver

Financial service institutions are increasingly adopting cloud solutions to enhance their operations and meet the demands of digital transformation. Private cloud solutions offer control and customization, while public cloud solutions provide scalability and agility. Hybrid cloud adoption is on the rise, allowing organizations to leverage both types of solutions. Artificial intelligence and machine learning are key tools in the financial services industry, and edge computing enables faster data processing. Cloud native technologies like containerization and microservices architecture are essential for IT strategies. Operational efficiency and data security are top priorities, with advanced security measures, identity management, and compliance automation ensuring protection. Cloud expertise is crucial for implementing these solutions, addressing regulatory problems and ensuring disaster recovery. With the rise of remote working, digital banking transformation, and increasing internet penetration, cloud computing services are becoming essential for customer acquisition and service delivery. However, cyber attacks and data protection measures are ongoing concerns, requiring cloud computing software and strong encryption. 

OpenStack is a popular open-source cloud computing technology, initiated as a collaboration between Rackspace and NASA in 2010. This technology consists of a collection of software tools designed to manage and construct cloud platforms in various environments. Major corporations, including Cisco Systems, Rackspace, Dell, HPE, IBM, Oracle, Red Hat, and VMware, support OpenStack. Its adoption is more prevalent in large financial institutions than in Small and Medium Enterprises (SMEs). These financial institutions predominantly utilize OpenStack for their core banking platforms. 

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 Market Challenges

•  Financial service institutions in the industry are increasingly adopting cloud solutions to enhance operational efficiency and support digital transformation. Private cloud solutions offer control and customization, while public cloud solutions provide scalability and agility. However, challenges persist, such as security concerns, regulatory problems, and data protection. Hybrid cloud adoption, utilizing both private and public clouds, offers a balance. Advanced security measures like strong encryption, identity management, and compliance automation are essential. AI and machine learning tools, edge computing, and cloud native technologies are driving innovation. IT strategies must balance delivery models, application development, and storage. With increased internet penetration and remote working, digital banking transformation relies on cloud computing services and tools. Cyber attacks demand data security measures. Cloud expertise is crucial to navigate these complexities and ensure customer acquisition and disaster recovery.

•  The financial services industry handles significant amounts of sensitive client and customer data, including bank accounts, debit or credit card information, and business transactions. Due to the value of this data, financial institutions are prime targets for cybercriminals. Strict data security standards are essential in this industry due to the potential risks of data breaches and the resulting reputational damage. With increasing data privacy regulations, the demand for data privacy policies is growing. Private and public cloud solutions offer enhanced security features, making them popular choices for financial services organizations seeking to protect their data. These cloud solutions provide encryption, access controls, and regular security updates, ensuring compliance with data protection regulations and safeguarding against cyber threats.

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Segment Overview 

This private and public cloud market in the financial services industry report extensively covers market segmentation by 

Service Type1.1 SaaS1.2 IaaS1.3 PaaSDeployment 2.1 Public cloud2.2 Private cloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 SaaS-  SaaS solutions, delivered over the Internet through a subscription model, are increasingly adopted by financial services firms for CRM, wealth management, core banking, accounting, and payroll. These solutions offer shorter implementation times and significant cost savings by eliminating the need for purchasing and managing hardware and software. Vendors like Salesforce.com specialize in SaaS-based CRM and wealth management software, generating substantial revenue. The demand for predictive analysis drives the popularity of SaaS solutions with analytical tools. Public SaaS, known for elasticity and scalability, is gaining traction in financial services due to its simplified access to platform solutions like AI, big data, data analytics, and IoT. In May 2021, Kwipped launched “APPROVE,” a SaaS solution for equipment financing. The wide adoption of SaaS technology will continue to fuel the demand for SaaS solutions, contributing to the growth of the global private and public cloud market in the financial services industry.

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Research Analysis

In the Financial Services Industry, Private and Public Cloud solutions have become essential for businesses seeking to optimize their computing resources and enhance their digital transformation strategies. Private cloud solutions offer control, security, and service customization, making them ideal for handling sensitive financial data. In contrast, Public cloud solutions provide scalability and cost savings, enabling institutions to leverage computing power and storage on-demand. Both solutions offer tools for artificial intelligence, machine learning, and edge computing, enhancing data analysis and processing capabilities. Hybrid cloud adoption allows for the integration of both private and public clouds, offering the best of both worlds. Cloud computing services also provide application development tools and storage solutions, driving innovation and efficiency. Internet penetration continues to increase, making cloud solutions increasingly important for financial service institutions to remain competitive.

Market Research Overview

In the Financial Services Industry, Private and Public Cloud solutions have become essential IT strategies for institutions seeking to enhance computing resources, improve operational efficiency, and ensure data security. Private cloud solutions offer control, customization, and advanced security measures, making them ideal for handling sensitive financial data. On the other hand, Public cloud solutions provide scalability, agility, and cost savings, enabling financial institutions to quickly deploy cloud-native applications and services. Hybrid cloud adoption is gaining popularity, allowing institutions to leverage both private and public clouds for optimal IT strategies. Artificial intelligence (AI) and machine learning (ML) are transforming financial services, requiring massive computing power and data storage. Edge computing is also essential for real-time analytics and low-latency processing. Digital transformation strategies are driving cloud adoption, with internet penetration and the increasing use of mobile phones, tablets, and digital banking transforming the industry. However, regulatory problems and cyber attacks pose significant challenges, necessitating strong encryption, identity management, compliance automation, and cloud expertise. Cloud computing services offer advanced tools for application development, data storage, and analytical support. Virtual computers, containerization, and microservices architecture enable institutions to build cloud-native applications and IT strategies tailored to their unique needs. Disaster recovery and delivery models are also critical considerations for financial services institutions seeking to mitigate risks and ensure business continuity.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Service TypeSaaSIaaSPaaSDeploymentPublic CloudPrivate CloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Revolune and Concept Life Sciences Partner to Help Customers Transition Multiplex IF Assays to Flexible New Workflows

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OBERKOCHEN, Germany, Oct. 27, 2026 /PRNewswire/ — Revolune today announced a partnership with Concept Life Sciences to help biopharma and life sciences customers reassess, transfer, and scale multiplex immunofluorescence assays using Revolune’s flexible staining technology, which now supports 4- to 7-plex assays. 

The collaboration addresses a growing market need as customers evaluate alternatives to existing workflows and reconsider how best to support tissue biomarker research. With Revolune now offering 4- to 7-plex assay capabilities, Concept Life Sciences can help customers transfer established assays onto the Revolune platform, preserve valuable panel know-how, and move more easily from existing workflows to flexible, ready-to-use multiplex formats. 

“Many customers are not starting from a blank page — they already have assays, panels, and tissue biomarker strategies they need to preserve while moving toward more flexible workflows,” said Adrian Arechiga, CCO of Revolune. “Concept Life Sciences brings the translational biology, biomarker, and assay development expertise needed to help customers make that transition practically and confidently.” 

Concept Life Sciences is a leading contract research organization serving the global life sciences industry, with capabilities across discovery, development, analytical services, translational biology, biomarker discovery, spatial biology, and end-to-end chemistry. By combining these capabilities with Revolune’s adaptable multiplex immunofluorescence technology, the companies aim to help customers generate decision-ready tissue biomarker insights while reducing the operational burden of assay transfer and implementation. 

The partnership is designed for research teams that want to retain the scientific value of existing workflows while gaining access to a more flexible platform for multiplex staining. Customers can work with Concept Life Sciences to evaluate assay transfer feasibility, optimize panel design, run tissue staining workflows, and connect resulting biomarker data to broader discovery and development programs. 

“We are excited to work with Revolune to support customers who are rethinking how they approach multiplex tissue analysis,” said Adam Davenport, CSO at Concept Life Sciences. “Together, we can help teams transfer existing assays, explore new panels, and apply multiplex immunofluorescence in ways that support meaningful translational decisions.” 

The Concept Life Sciences partnership forms part of Revolune’s broader strategy to build an ecosystem of partners that support adoption across different customer needs — from specialist service execution to assay migration, translational biology, and integrated R&D support.

Meet Revolune and Concept Life Sciences at SITC 2026

Revolune and Concept Life Sciences will both be attending the Society for Immunotherapy of Cancer (SITC) Annual Meeting, November 4–8, 2026, in Phoenix, Arizona. 

Meet both teams at SITC at Sundown, a relaxed evening of complimentary drinks, dinner and conversation hosted by Concept Life Sciences on November 6, 6.30-8.30 pm. More information: https://www.conceptlifesciences.com/campaigns/sitc-2026.

About Revolune

Revolune is a life science company dedicated to making multiplex immunofluorescence as accessible and practical as routine tissue analysis. Its reagent technologies help laboratories move rapidly from existing primary antibodies to ready-to-use multiplex kits, simplifying spatial biology workflows and enabling researchers to focus on biological questions rather than assay management. 

About Concept Life Sciences

Concept Life Sciences is a leading contract research organisation (CRO) serving the global life sciences industry. For over 25 years, the company, and its heritage companies, have provided consultative and collaborative drug discovery and development services. Our approach, supported by passionate scientists and world-leading capabilities, enables clients to overcome complex scientific challenges and improves program success rates. The company has successfully helped 29 candidates advance to the clinic.

The company offers sophisticated translational biology services coupled with exceptional end-to-end chemistry capabilities to support drug discovery and development across a range of established and emerging modalities, with the ability to seamlessly integrate capabilities and provide bespoke solutions to address client needs.

Collectively, the company’s high-quality services and commitment to customer service across the drug development pathway enhances efficiency in drug discovery, helping clients advance their drugs to clinic in as little as 32 months, well ahead of the industry average of 60 months.

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SOURCE Revolune

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From Global Orders to Global Growth: Financial Infrastructure for Mid-Market Exporters

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At the 140th Canton Fair, PhotonPay demonstrates how its stablecoin-centric financial operating system helps growing exporters manage cross-border collections, currency conversion and global payments.

HONG KONG, Oct. 27, 2026 /PRNewswire/ — For a growing homewares exporter, a major overseas order brings opportunity, but also an immediate question: how will the business finance production, cover shipping costs and manage cash until the buyer pays?

A furniture manufacturer may need to pay suppliers weeks or months before receiving the final payment. A home décor or festive-goods exporter may be managing several seasonal orders at once, each with different delivery schedules, payment terms and currencies. As the business expands into more markets, tracking incoming payments, converting currencies and paying suppliers becomes increasingly complex.

These are everyday challenges behind international trade. At the second phase of the 140th Canton Fair, themed “Quality Home Life” and featuring furniture, kitchenware, household items, home decorations, gifts and festive products, PhotonPay is highlighting how financial infrastructure can help growing exporters manage these demands as they expand internationally.

Financial Tools for the Next Stage of Growth

Large multinational companies can draw on dedicated treasury teams, established banking relationships and sophisticated systems to manage funds across markets. Smaller businesses may have simpler payment needs. Mid-market exporters occupy a different position: their operations span multiple countries and currencies, while their finance teams often remain lean.

At the same time, production and freight costs must be covered before all customer payments arrive. Receivables may be spread across currencies and accounts, while suppliers expect payment according to their own schedules. Finance teams must track receipts, reconcile invoices and maintain a clear view of available funds.

Across multiple markets and overlapping orders, these tasks can consume significant time and complicate decisions about when and where to deploy cash. Growing exporters need practical tools to coordinate collections, manage funds across currencies and pay counterparties worldwide, without having to build a large treasury function from scratch.

Connecting Fiat and Stablecoin Rails to Global Business

Bank accounts and fiat payment networks remain central to international trade, connecting businesses to local collection methods and established banking relationships. Stablecoins offer an additional way to transfer value across borders, with transactions possible outside conventional banking hours depending on the network and transaction arrangements.

Connecting fiat and stablecoin rails can give businesses more flexibility in managing cross-border funds. For exporters, the practical value lies in connecting the stages of a cross-border financial workflow: receiving customer payments, converting currencies and making funds available for supplier payments and other business expenses.

PhotonPay is built around this connection. As a stablecoin-centric financial operating system, PhotonPay brings together a cross-border financial infrastructure across both fiat and stablecoin rails.

Its multi-asset wallet supports fiat currencies and stablecoins within a unified environment. Local collection capabilities cover 21 currencies, enabling businesses to receive payments in the currencies their customers use. Through integrated on- and off-ramp services, businesses can convert between fiat and stablecoins, while 24/7 foreign exchange allow funds to move across markets at any time. Cross-border payouts in fiat and stablecoins are available across 200+ countries and territories. Card issuing capabilities also allow companies to manage overseas business spending directly from one platform.

These capabilities connect the key stages of cross-border financial operations, and for growing exporters, this provides a more integrated way to manage international payments as their business expands.

PhotonPay also extends its infrastructure to platforms through Embedded Finance. Its APIs enable B2B platforms, marketplaces and other digital businesses to integrate financial capabilities, including accounts, fiat and stablecoin wallets, global payouts and card issuing, into their own products. This allows platforms to build collection, payment and fund management services into existing workflows and extend financial capabilities to their customers.

Financial Infrastructure That Grows With the Business

For mid-market exporters, international growth brings new customers, more markets and greater demands on financial operations. The ability to manage funds across borders needs to keep pace, supporting everything from the next production run to the next supplier payment and the next market entry.

By connecting fiat and stablecoin rails within one financial operating system, PhotonPay helps growing businesses manage cross-border funds with greater flexibility as they scale internationally.

Visit PhotonPay at Area D, Booths DT1714–DT1718, during the 140th Canton Fair.

About PhotonPay

PhotonPay is a stablecoin-powered payment operating system built for global infrastructure. Designed for modern enterprises, PhotonPay enables businesses to send, receive, convert, and settle funds across both fiat and stablecoin rails through a single, compliance-first integration, spanning 200+ countries and territories.

For more information, visit [www.photonpay.com].

Disclaimer

This material is for general informational purposes only and does not constitute legal, regulatory, tax, accounting, or investment advice, nor an offer or solicitation for any product or service. The availability, features, and regulatory treatment of PhotonPay’s products and services may vary depending on the user’s location, business model, and the laws and regulations that apply. Any descriptions of functionality, performance, efficiency, cost savings, or compliance support (including, without limitation, references to “real‑time”, “24/7”, “high‑efficiency”, or “compliant” solutions) are aspirational or forward‑looking in nature. Actual outcomes may differ due to market conditions, technological constraints, and regulatory developments, and PhotonPay makes no express or implied representation, warranty, or guarantee as to the achievement of any particular result.

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SOURCE PhotonPay

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Rockwell Automation Unveils Record-Breaking Innovation Lineup at Automation Fair 2026

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From AI-powered manufacturing and next-generation control to cybersecurity and digital engineering, Rockwell showcases technologies designed to help manufacturers build the future of industrial operations

MILWAUKEE, Oct. 27, 2026 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced an expanded product showcase for Automation Fair® 2026. Across the plant floor and enterprise, Rockwell’s latest innovations help manufacturers unlock greater productivity, simplify operations and strengthen resilience in an increasingly complex industrial environment. Together, these technologies demonstrate how AI, automation and digital transformation are reshaping the future of industrial operations.

At Automation Fair 2026, attendees will get an exclusive look at new technologies designed to help manufacturers modernize production, accelerate decision-making and scale innovation with greater confidence. The innovations span Rockwell’s automation and software portfolio showcasing practical applications that address some of the industry’s most pressing operational challenges.

“Production systems today are balancing growth, workforce challenges, cybersecurity threats and the need to adapt faster than ever before,” said Matheus Bulho, senior vice president, software & control, Rockwell Automation. “At Automation Fair 2026, we’re bringing together hardware, software and industrial intelligence in new ways, giving customers the tools to move faster, adapt with confidence and create more resilient and autonomous operations.”

Among the list of record-breaking innovative new technologies being showcased are:

LogixEdge™ Controller, enhancing the power of Logix with new form factors and seamless integration of IT and OT workloads that further amplify Logix’s powerful multidiscipline control and information capabilities, including AI workloads that enable autonomous controlCompactLogix® 5390 Controller, delivering enhanced performance and security with greater scalability for modern production system environments.PointMax™ I/O, a next-generation I/O platform designed to simplify deployment and support high-performance machine applications.Armor™ PowerFlex® 330 Integrated Drive Motor, combining motor and drive functionality in a compact solution to reduce complexity and accelerate installation.EtherNet/IP™ In-cabinet Solution, helping manufacturers simplify what it takes to construct, wire, deploy and manage industrial control systems more efficiently.FactoryTalk® Optix™ Version 1.9 and new OptixPanel™ Pro and PanelView™ Pro graphic terminals, providing expanded visualization capabilities across larger distributed systems, enhanced security and a modern operator experience.FactoryTalk® Conductor™, enabling organizations to orchestrate industrial intelligence and agentic engineering across design, operations and maintenance for their entire operations.FactoryTalk® AssetIQ™, FactoryTalk® Design Workbench™ and FactoryTalk® ResilientEdge™ software, helping customers simplify enterprise OT asset management, streamline engineering and improve resilience of edge deployments.New AI innovations for the Plex Smart Manufacturing Platform™ and AI-powered Quality Management capabilities, bringing practical artificial intelligence to everyday manufacturing workflows.Expanded cybersecurity offerings, including SecureOT™ Platform Managed Services, OT Cybersecurity Assessment Suite, and capabilities designed to support OEMs in building more secure machines from the start

In addition to product announcements, attendees will have the opportunity to experience live demonstrations, engage with Rockwell Automation experts and partners and explore the innovations driving greater productivity, flexibility and resilience across manufacturing.

Registration is now open. Join thousands of industrial professionals at Automation Fair 2026 and be among the first to experience Rockwell’s latest innovations in action. Register today at automationfair.com.

About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing the Connected Enterprise® to life across industrial enterprises, visit www.rockwellautomation.com.

 

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SOURCE Rockwell Automation, Inc.

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