This IDC study examines the market for financial applications, which is expected to see solid growth, in part, by the sharper focus on financial applications that was a prominent side effect from the pandemic for many businesses. In many ways, the crisis has accelerated the adoption of cloud financial applications relative to on-premises and private cloud deployments.

"The pandemic brought the need for modern financial applications in stark focus. Solutions that enabled businesses to be more flexible and more agile were highly sought after. We expect this trend will drive further demand for modern cloud-native applications well past the forecast period," says Kevin Permenter, research manager, Enterprise Applications at IDC.



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