Cloud computing is a collection of Internet-based services that allow individuals and companies to access applications and storage via the internet instead of a local computer, server or storage device. Cloud allows ready access to a shared pool of configurable computing resources, such as networks, servers, storage and applications. It is defined by “On-Demand Self-Service”.
The impact of cloud
Cloud does not only affect IT industry but is also a revolutionary idea in different industries around the globe. With increasing demand of cloud from different industries, technical giants like Google, Microsoft and Amazon Web Services are working hand in hand to revolutionize the future for large enterprises. These companies in partnership with IT firms like MSRcosmos and various others are striving to help organizations shape their future.
Companies can opt for different cloud models such as public, private or hybrid cloud according to their necessities, where the most adopted cloud type is the Hybrid cloud. The cloud market is estimated to reach $832.1 billion worth by the year 2025. Now in 2022, the global IaaS cloud has reached a mark of $120 bn, the global PaaS market has reached $110 bn and the SaaS market reached $177 bn.
Cloud adoption across diverse industries
We have handpicked a few industry verticals where cloud adoption is taking a center stage. Let’s look at each of them listed below
Cloud Adoption in Education
Cloud adoption in education has increased significantly during past few years, and is expected to increase even more in the coming years. By adopting cloud solutions in education, students can access class materials from anywhere, anytime. Also, they can collaborate with their peers without any limitations to time and location.
Cloud also helps teachers when it comes to assigning tasks, collecting assignments and grading exams or tests. The best part about cloud is that it does not require IT support for maintenance or management of the infrastructure.
Cloud Adoption in Healthcare industry
From automated patient records to electronic prescriptions, cloud applications are transforming the healthcare industry by making data available quickly to clinicians, administrators and even patients. This allows for more data-driven decision-making, which translates into better patient care with less waste. Cloud technology also improves collaboration among clinicians who are spread across multiple facilities, enabling them to make more informed decisions about patient care using real-time information.
Cloud in Manufacturing
Manufacturing is one of the most important sectors of any economy and it contributes greatly to its growth. According to Gartner, 40% of manufacturing companies are adopting public cloud services for their business processes. It enables them to provide better products and services at lower costs. Cloud technology can increase efficiency by making it easier for manufacturers to connect their operations and improve communication between departments. Manufacturers that use large amounts of data can also benefit from migrating to the cloud because it makes it easier to manage.
Cloud in Retail sector
The biggest advantage of cloud computing for retailers is that it provides them with a chance to provide better customer experience. With the help of cloud, retailers can collect data from multiple sources and then analyze it to know more about their customers’ preferences and tastes which enables them to customize their offerings according to the needs of their customers, thereby boosting sales.
Cloud also makes it easier for retailers to manage their vendor relationships as it helps in automating various processes such as invoice processing and payment management, etc. Retail giants like Amazon and Walmart are continually pushing the envelope to meet customer demand, and they successfully operate at scale because they have adopted cloud computing.
Cloud Adoption in Telecommunication
Telecommunication industry is transforming itself at rapid pace. The mobile market is becoming more and more competitive, meaning they need to innovate and differentiate their products and services to grow revenue and maintain market share. In order to innovate the products and services, the telecom companies are using cloud computing in various ways- for creating new products, for enhancing the existing products, for developing new business models (B2B) and for enabling new use cases.
Legal and Financial sector
Cloud services are playing an increasingly important role in finance, accounting and legal services. The financial sector is highly competitive, and much information about customer needs is required for any business to succeed. Thus, financial institutions have been utilizing cloud computing services in order to manage their processes effectively. Cloud has enabled companies to improve their customer relationship management and also make faster decisions using real-time data analytics.
Most law firms too, have been able to reduce cost through automating various processes like Document Management Systems (DMS) where they can store case documents and use them when required easily without having to waste time going through large filing cabinets or hard drives.
Government and Local Public Sector
The trend towards cloud adoption in government is encouraging. The new business models, applications and services enabled by cloud technologies are essential to the success of government agencies’ missions in the digital age.
Local Public sectors organizations too, are not far behind federal and state agencies when it comes to cloud adoption. The main advantage for these institutions is the ability to reduce costs associated with hardware maintenance, energy bills and on-premise IT staff training. Cloud provides improved productivity and easier project management to these companies.
Transportation and Logistics
Transportation and logistics are one of the most mature industries in terms of cloud adoption. Both these sectors have been using cloud services in a variety of ways, such as tracking shipments through the supply chain, predicting when deliveries will arrive, analyzing customer data to better serve their needs and enabling intelligent warehousing.
Transportation and logistics rely on location data and requires tracking loads, routes and assets. The cloud’s ability to utilize big data can help drive faster decision-making and optimize operations for this industry by providing real-time visibility into operations. Cloud adoption for transportation and logistics industry can also lower costs by reducing the need for capital expenditures on hardware and software.
Companies across the globe in diverse industries are investing in cloud technology because they are realizing that the adoption of it can help them increase their operational efficiency, reduce cost, and compete in a global market. Cloud has brought an enormous change in the way enterprises deal with infrastructure, back-up and almost everything when it comes to Information security management. Cloud provides benefits such as flexibility, scalability and automation, in addition to its various other benefits in industries.
Cloud computing has turned out to be the most worthwhile IT adoption and is expected to grow bigger in all industries. It will enable businesses to move faster, make better decisions, gain customer trust and build robust and scalable IT infrastructure. Cloud is no longer a future technology. It is the need of the hour; a technology that industries are using today.
At MSRcosmos, we have been helping customers in adopting cloud technologies. We have mastered the art of cloud migrations – whether it is Microsoft Azure or Amazon web services (AWS) or Google Cloud platform. Connect with our cloud migration experts to take the next big leap.