Cloud Based Financial Platform Market Report 2025

This 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 cloud based financial platform market size has grown rapidly in recent years. It will grow from $175.03 billion in 2024 to $200.27 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to need for cost-effective solutions, globalization of businesses, concerns about data breaches, proliferation of mobile devices, and evolved regulatory requirements.

The cloud based financial platform market size is expected to see rapid growth in the next few years. It will grow to $338.96 billion in 2029 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to rise of FinTech startups, adoption of blockchain technology in financial platforms, increasing demand for industry-specific financial platforms, heightened focus on data privacy, and accelerated digital transformation initiatives. Major trends in the forecast period include hybrid cloud deployments, API-driven integration, emphasis on user experience, data analytics and visualization, sustainability and ESG integration.

The cloud-based financial platform market is anticipated to experience growth driven by increasing concerns regarding data security. Data security encompasses safeguarding digital information throughout its lifecycle to prevent unauthorized access, theft, or corruption. Heightened connectivity, complex IT systems, and sophisticated hacking techniques contribute to the rising concerns over data security. Cloud-based financial platforms address these concerns through advanced encryption, authentication, and monitoring measures. For example, in March 2024, the Federal Bureau of Investigation (FBI) reported a 10% increase in cybercrime complaints from the public compared to the previous year, highlighting the growing threat. Similarly, global cyberattacks surged by 38% in 2022 compared to 2021, according to Check Point Software Technologies Ltd. Consequently, the escalating apprehension about data security is fueling the growth of the cloud-based financial platform market.

Leading companies in the cloud-based financial platform sector are leveraging advanced technologies, particularly API-based software, to gain a competitive edge. API-based software utilizes Application Programming Interfaces (APIs) to facilitate seamless integration and communication among various financial systems, services, and cloud-hosted applications. For instance, in April 2024, Sopra Banking Software SA introduced its Instant Payments solution, a cloud-based offering that seamlessly integrates instant payment functionality into existing systems of banks and financial institutions. This API-based software ensures continuous availability and real-time processing, handling up to 1,500 transactions per second. Compliant with European standards like EPI (European Peacekeeping Initiative) and RTP (Reinforcement Training Package), the solution supports scalability and adaptability in the evolving payment landscape.

In February 2023, Thoma Bravo Inc. acquired Coupa Software Inc. for $8 billion, aiming to leverage its extensive software expertise to drive growth and innovation in the cloud-based financial platform sector. Coupa Software Inc. specializes in providing a cloud-based Business Spend Management (BSM) platform tailored for enterprises, highlighting the sector's significance in addressing evolving business needs.

Major companies operating in the cloud based financial platform market report are Microsoft Corporation; Amazon Web Services (AWS); International Business Machines Corporation; Oracle Corporation; NetSuite Inc.; SAP SE; Salesforce Inc.; Fiserv Inc.; Intuit Inc.; Wipro Limited; ServiceNow Inc; Workday Inc.; Red Hat Inc.; Infor Inc.; Capgemini Technology Services India Limited; Zoho Corporation; Epicor Software Corporation; Xero Limited; UNIT4 Business Software Limited; Gusto Inc.; Expensify Inc.; Dext; ZipBooks Software Solutions Pvt. Ltd.; Acumatica Inc.; Kashoo Ltd.

Europe was the largest region in the cloud based financial platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud based financial platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud based financial platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cloud based financial platform market includes revenues earned by entities by providing services such as payment processing services, online bookkeeping services, and accounting services. 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).

A financial platform based on the cloud refers to a software solution that empowers businesses to handle their financial operations utilizing a cloud-based infrastructure. This setup allows users to remotely access the platform via the Internet, offering organizations flexibility, scalability, and real-time access to data.

The primary services provided by cloud-based financial platforms include Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). SaaS entails software applications accessible over the Internet without requiring local downloading or installation. It is deployed across public, private, and hybrid clouds for various applications like accounting and finance management, risk management and compliance, and payment processing. It caters to diverse end-users, ranging from small and medium enterprises (SMEs) to large enterprises across different sectors such as banking and financial services, retail and e-commerce, healthcare, manufacturing, and more.

The cloud based financial platform market research report is one of a series of new reports that provides cloud based financial platform market statistics, including cloud based financial platform industry global market size, regional shares, competitors with cloud based financial platform market share, detailed cloud based financial platform market segments, market trends, and opportunities, and any further data you may need to thrive in the cloud based financial platform industry. This cloud based financial platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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.

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