43% of global financial services firms plan to increase private cloud investments in the next year>
Evanino
43% of global financial services firms plan to increase private cloud investments in the next year Their reported usage of private cloud (39%) outpaces all other industries except for IT, tech, and telecoms (40%), and is slightly higher than its own reported usage in 2019 (36%), according to the third annual report. In the coming year, 43% of financial services respondents said they will likely run more applications in private cloud compared with 33% of global respondents, the report stated.

The financial services sector also reported plans to reduce reliance on traditional, non-cloud-enabled data centers from 14% to 4% within one year, according to the report. Respondents said they plan to increase their deployment of hybrid cloud to about 54% penetration within five years, up from just under 15% penetration this year.

The financial services sectorâs top motivations for modernizing its IT infrastructure are to gain greater control of IT resource usage (59%) and to gain the speed (58%) and flexibility needed (55%) to meet business requirements, according to the report.

While cost is less of a factor, more respondents in the financial services sector rated cost savings (31%) as a higher driver for cloud compared with the global average (27%), the report said.

Other key findings of this yearâs report include:

Security concerns are driving private cloud adoption Investment in hyperconverged infrastructure shows the industryâs confidence in private cloud The industry must invest in talent to support a hybrid cloud environment
Link: https://evanino.com/43-of-global-financial-services-firms-plan-to-increase-private-cloud-investments-in-the-next-year/