The cloud computing industry is on the rise, showing exponential growth from $67 billion in 2015 to $162 billion in 2020.
77% of enterprises have at least one application in the cloud.
74% of CFOs say the cloud will have the most impact on their business.
94% of small-to-medium businesses have experienced security benefits with the cloud.
Top Industries
Virtually every industry can benefit from how the cloud can transform an organization. The top four industries quickly adopting cloud technologies are:
1. Banking
Banks often face the constraints of information integration, products and customer business processing, and the ability to deliver new, innovative services. 100% of Capital One's mobile banking traffic is handled by Amazon Web Services. With the cloud, the distance is shortened between customers, employees, and data and allows connection between providers and digital partners.
2. Healthcare
Adoption of the cloud is expected to rise 21% by 2022. That's not too far off. It's really no surprise with the amount of compliance and security regulations the healthcare industry must follow to protect patient data. Verizon noted that 81% of healthcare security breach patterns are miscellaneous errors, web applications, and privilege misuse. 72% of medical data is comprised. With the cloud, security and compliance are #1 priorities. data is safeguarded, and providers can offer full-managed services, training, and testing.
3. Insurance
Insurance companies have been throwing out legacy systems, infrastructure, and even business models to increase the overall customer experience by looking at their business holistically, understanding that technology plays a major role. The need to be available any time a client claim comes through is crucial for many companies. Cloud solutions like Disaster Recovery as a Service (DRaaS), make it possible to store data in multiple centers and failover to that environment in case of a disaster.
4. Energy
Global smarts grid as a service is expected to rise from $1.38 billion to $6 billion in 2025. The need for a more integrated, streamlined customer experience and quicker access to analytics is evident. The architecture needs to enable the integration of people, processes, data and things across the value chain. With the cloud, real-time analytics, global employee collaboration, and a re-architected network with distributed hubs is possible for global consistency.
The Cloud Is Not Going Away
The cloud: It's not a multi-million dollar industry. It's not a fad. It's not a trend.
It's a multi-billion dollar industry that is causing global disruption and changing the way we work. It's allowing capital expense to become operational. It's allowing businesses to access data to improve their customer experience. It's connecting businesses, workers, and the world. It's adapting to increase security measures every day and allows companies to monitor what exactly is going on. It's changing the way we work today, to transform our tomorrow.
Sources: Forbes, SmallBizTrends, A Cloud Guru
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