A Technavio study, released by Research and Markets, predicts the global private and public cloud market in financial services industry will experience a compound annual growth rate of 13.12 percent from 2016 to 2020.
The 107-page market research report incorporates analysis and inputs from industry professionals and covers the market landscape and its growth forecast over the next four years, Research and Markets said in August.
Research and Markets says the growing demand for unlimited virtual storage and big data will drive the market and data security will pose a challenge.
Vendors highlighted in the report include:
- Amazon Web Services
- Computer Sciences Corp.
- Red Hat