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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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Notari launches Founder Edition N1 Pro AI Notetaker, an AI notetaking system that makes the transcript a starting point for deeper thinking

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Founded by Keychron Co-Founder Paul Tan, Notari pairs a sleek recording device with an AI workspace that helps users question, develop and act on what they capture

AUSTIN, Texas, Oct. 27, 2026 /PRNewswire-PRWeb/ — Today, Notari launched direct-to-consumer sales for N1 Pro AI Notetaker, an AI notetaking system designed to function as a thinking partner for conversations, meetings and personal ideas. The system consists of two components: a credit-card-sized recorder and an AI-powered app. The Founder Edition is available through an early-access program at notarilabs.com for a limited-time introductory price of $129.99 USD (MSRP $189 USD) in the United States and U.S. territories, with additional countries planned.

Our goal at Notari is to bring transcription capabilities to more people and organizations, giving them an easier, more customizable way to connect real-world information with their own AI.

At just 0.17″ (4.4 mm) thick, the N1 Pro AI Notetaker recorder is a device that attaches magnetically to the back of a smartphone and captures conversations, meetings, lectures and thoughts at the press of a button. Recordings are stored locally, and a built-in contact microphone can capture the other side of phone calls without requiring speaker mode. The Notari AI Notetaker software turns recordings into searchable transcripts and structured summaries, then provides an AI workspace where users can question the material, develop ideas and decide what comes next.

How N1 Pro AI Notetaker extends beyond the transcript

While many AI notetakers can reduce the work involved in recording, transcribing and summarizing conversations, N1 Pro AI Notetaker is designed to help users continue working with that information.

Key capabilities of the system include:

Record locally before deciding what to process: The recorder includes 32GB of local storage and does not require an internet connection while recording. Users always choose which files to transfer for transcription and AI processing in the app.Capture virtual meetings without a bot: Desktop recording captures system audio and in-person sound without requiring a bot to join the call.Move from recording to structured information: The app distinguishes between different speakers and turns recordings into searchable transcripts and structured summaries that users can correct and edit.Ask questions and develop ideas: Users can query captured material to retrieve details, identify unresolved issues and examine alternative perspectives, then use AI to develop what they learn further.Choose between multiple AI models: Users can select ChatGPT, Gemini or Grok through integrations managed by Notari.Option to use the software without the hardware: Notari AI Notetaker can be used independently of the recording device, with recording handled in-app.

“Our goal at Notari is to bring transcription capabilities to more people and organizations, giving them an easier, more customizable way to connect real-world information with their own AI,” said Paul Tan, Founder and CEO of Notari, Co-Founder and former COO of Keychron. “That connection gives AI the context it needs to better support us.”

A personal knowledge system built around user-controlled information

The recording device measures 3.58″ × 2.32″ × 0.17″ and weighs just 54.8g. Four MEMS microphones capture ambient audio, with best recording performance within five metres and recording at distances of up to nine metres under suitable indoor conditions. A 660 mAh battery supports up to 40 hours of continuous recording and up to 60 days of standby time, with approximately two hours required for USB-C charging. Available in Space Black and Silver, the device includes a magnetic adapter ring, USB-C charging cable and one-year limited warranty. A built-in screen indicates when recording is active.

Notari AI Notetaker is available via iOS mobile app (Android coming in November) and web browser, with dedicated desktop apps planned.

The Founder Edition N1 Pro AI Notetaker recorder includes unlimited free standard-model transcription for life on recordings made directly with the device, one complimentary month of the Pro Plan, and access to the Founder Community, where early customers can suggest ideas, provide feedback and vote on future features. With its core features in place at launch, N1 Pro AI Notetaker will continue to evolve through additional features and improvements planned for upcoming releases.

Free and paid subscription plans are also available, including the Plus Plan ($14.99 USD per month) with 2,000 credits for advanced transcription models, and the Pro Plan ($29.99 USD per month), which includes unlimited standard-model transcription and 4,000 advanced-model credits. Files selected for transcription and AI processing are uploaded to Notari’s AWS cloud infrastructure, where data is encrypted in transit and at rest. Users can delete individual recordings and other content from Notari’s servers, and user data is not used to train AI models.

“Too many products are built around restrictions,” continued Tan. “We created Notari to give users the most freedom in how they record, transcribe and work with AI so they can spend less time navigating limitations and more time making better decisions and doing better work.”

Media wishing to interview Notari personnel should contact PR agent Borjana Slipicevic at Proper Propaganda.

About Notari

Notari builds connected hardware and software tools that help people capture information, think clearly and develop ideas over time. Founded by Paul Tan, Co-Founder and former COO of Keychron, where he led product design and innovation, Notari brings together a multidisciplinary team of engineers, designers, writers, developers and thinkers. With backgrounds spanning product design, filmmaking and software development, the team draws on its own experience creating and building products to develop the next generation of notetaking and document tools for capturing information, developing ideas and supporting creative work.

Media Contact

Borjana Slipicevic, Proper Propaganda, 1 7788582595, borjana@properpropaganda.net, properpropaganda.net

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SOURCE Proper Propaganda

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Regional Center of Orange County Honors Business Champions for Employees with Developmental Disabilities

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SANTA ANA, Calif., Oct. 27, 2026 /PRNewswire/ — Regional Center of Orange County (RCOC) has honored the following seven Orange County businesses as champions for employees with developmental disabilities.

Discovery Cube (Santa Ana)
Grocery Outlet (Anaheim and Long Beach)
Lamppost Pizza (Orange)
Oakley (Irvine)
Heroes Hall – OC Fairgrounds & Event Center (Costa Mesa)
Provider Contract Food Services (Fullerton)
Walgreens (Anaheim)

Decades ago, few people with developmental disabilities were able to get paying work. Many who had jobs were employed in what were sometimes called “sheltered workshops.” These types of workplace settings (which are no longer eligible for Regional Center funding) included only adults with disabilities and were isolated from the broader community.

“Now we take for granted that people with disabilities can and should be able to work alongside coworkers without disabilities,” said RCOC Executive Director Larry Landauer. “But individuals we serve continue to face challenges, so it’s important for us to recognize role-model employers like our honorees who know the benefits of including people with developmental disabilities in their workforces.”

Several years ago, the RCOC Board of Directors adopted an Employment First policy that makes competitive integrated employment the first option for the working-age adults RCOC serves. This aligns with the state policy that also favors inclusive employment. Toward that end, RCOC and its network of service providers partner with businesses of all sizes, community organizations and government agencies throughout Orange County to identify job opportunities and then match individuals’ skills, talents, abilities and interests with the right job and the right employer.

The businesses honored at this event received certificates from the offices of Assemblymember Diane Dixon, Assemblymember Cottie Petrie-Norris and Assemblymember Avelino Valencia.

For more information on the advantages of hiring adults with disabilities, visit RCOC’s Employment First and RCOC’s Employment for People with Developmental Disabilities web pages.

About Regional Center of Orange County: Regional Center of Orange County is the private, nonprofit organization contracted by the State of California to coordinate lifelong services and supports for more than 29,000 Orange County residents with developmental disabilities and their families. The Regional Center is the first stop for those seeking to obtain local services and supports to help them live safely and with dignity in the community. Developmental disabilities include intellectual disabilities, autism, epilepsy and cerebral palsy. Learn more at www.rcocdd.com.

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SOURCE Regional Center of Orange County

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Dotwork Acquires Arcario Group to Accelerate Adoption of Its AI-Native Enterprise Operating Platform

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Acquisition adds forward-deployed expertise to connect strategy, capital, AI execution and measurable business outcomes.

GEORGETOWN, Texas, Oct. 27, 2026 /PRNewswire/ — Dotwork, an AI-native enterprise operating platform, today announced its acquisition of Arcario Group, a consultancy specializing in enterprise operating models and transformation. The transaction closed October 23. Financial terms were not disclosed.

AI is accelerating execution, but most enterprises still manage strategy, funding and work across disconnected systems. Leaders struggle to see what investments actually cost, whether they produce results and where resources should move next.

Dotwork is building the enterprise steering layer for the AI era. Its graph-based Enterprise Operating Model connects existing systems rather than replacing them, linking strategy, capital, business capabilities, work, decisions and outcomes. Unlike tools centered on projects or workflows, Dotwork focuses on the decisions that drive performance, connecting plans to actual spending, preserving decision context and giving leaders and AI agents a shared understanding of the enterprise.

Arcario brings the expertise to activate that model. Its Connected Enterprise approach aligns people, processes, data and technology, while forward-deployed enterprise value architects work alongside customers to solve targeted problems and measure results.

Together, the companies help enterprises:

Design: Identify gaps between strategic priorities, investments, business capabilities and execution.Activate: Connect existing financial and operational systems, then deploy targeted workflows and AI capabilities without replacing core technology.Steer: Track decisions, actual costs and outcomes, then adapt investments and execution as priorities change.

“The enterprise software industry has spent decades helping companies manage work, automate processes and analyze data. But who’s helping the CEO, COO, CFO and CIO actually steer the business?” said Steve Elliott, founder and CEO of Dotwork. “AI makes deciding where to invest and how to measure results more important than ever. We’re building Dotwork around those decisions—not another workflow or dashboard. Arcario brings the expertise to make that operating model real.”

Rather than requiring lengthy transformation programs or bespoke platforms, the combined teams can start with a high-value business problem, establish a reusable operating model and expand as results are demonstrated. Lessons from deployments will also inform repeatable Dotwork platform capabilities.

“Connecting enterprise strategy to what teams actually do has always been the hard part,” said Konstantin Popov, founder and CEO of Arcario Group. “With Dotwork, we can move beyond recommendations to connect decisions, investments and execution—and show customers the value they’re creating.”

Arcario’s leadership previously built an enterprise operating-model practice acquired by Cprime, where it scaled to support major enterprise transformations. Arcario becomes the foundation of Dotwork’s services and forward-deployed engineering organization. Existing client engagements continue with their current teams. Konstantin joins Dotwork as Head of Transformation Services.

Learn more at dotwork.com/post/welcome-arcario.

About Dotwork

Dotwork is an AI-native enterprise operating platform connecting strategy, capital, work and outcomes through a living, graph-based Enterprise Operating Model. Founded by Steve Elliott, former founder and CEO of AgileCraft (acquired by Atlassian), Dotwork is headquartered in Georgetown, Texas. Learn more at dotwork.com.

About Arcario Group

Arcario Group helps enterprises build the Connected Enterprise, aligning people, processes, data and technology to improve execution and business outcomes. Learn more at arcariogroup.com.

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