Page 8 - Beeks Financial Cloud Group Annual Report 2021

6 Beeks Financial Cloud Group PLC

For the year ended 30 June 2021
Strategic Overview

Market

Overview

According to a 2020 report from The complex nature of building while also providing cost, revenue
Markets and Markets, the global and managing a latency sensitive and agility benefits. To realize these
cloud computing market size is infrastructure means financial benefits, firms should scale up
expected to grow from USD 371.4 enterprises are moving away from discrete, targeted cloud use
billion in 2020 to USD 832.1 billion from on premise data centres to cases and create a foundational
STRATEGIC REPORT
by 2025. third party facilities. We believe enterprise-wide cloud layer.
the decreased latency, increased
The global cloud infrastructure flexibility and cost-benefits of Cloud Accenture concluded that cloud’s
services market to grow from USD computing that we facilitate will see scale, resiliency and continuous
73.0 billion in 2019 to USD 166.6 a gradual long-term shift to innovation mean it will likely form a
billion by 2024, at a Compound this model. critical part of every future business
Annual Growth Rate (CAGR) of and technology roadmap . 2
18.0% during the forecast period. As Cloud adoption in financial
The major growth drivers for services evolves, companies are Our innovations, enhanced product
the market include low costs, finding that the benefits are not range, breadth of asset classes and
flexibility, scalability, and security. just about cost efficiencies but also growing number of Tier 1 customers,
The cloud infrastructure service to do with resilience, agility and positions us well to benefit from the
offerings provide accelerated innovation which brings additional growth in the market for automated
Time-to-Market (TTM) and speedy opportunities for by-products such trading and the continued adoption
application development and as analytics and scalable global of Cloud computing by financial
running processes. connectivity. services organisations.

Increased user and resource Our addressable market is
mobility, ongoing migration of extensive with up to 20,000 financial
applications over the cloud, and the institutions, a large percentage
emergence of more sophisticated of which maintain their own IT
threats are leading organizations infrastructure and are yet to move
toward the adoption of hybrid to the Cloud computing model.
cloud. Industries, such as BFSI, which
prioritize compliance, security, and In their 2020 report, Accenture
customer experience, opt for the reported on the new cloud
hybrid deployment model . 1 imperative in capital markets and
noted that while Capital Markets
Software as a Service model is firms were once at the forefront
expected to witness the highest of technology innovation, they
adoption in the coming five years, now face being left behind by
as enterprises are deploying this innovations from other industries.
service model to cut down on the
CAPEX cost and focus on their core The realisation is that incremental
competencies instead of worrying adoption of public cloud solutions
about the IT infrastructure. could enable firms to keep pace,

2
1 Markets and Markets Accenture