The rate of private cloud adoption is speeding up as more companies realize the myriad benefits that come from moving data and applications to off-premises environments. Market indicators make it clear that more businesses are taking advantage of the cloud and all of its iterations. For instance, a recent report estimated that the cloud identity and access management market will be worth $3.42 billion by 2020, expanding at a compound annual growth rate of 25.7 from 2015 to 2020. As businesses work toward building cost-effective cloud platforms, cloud IAM provides a centralized management of intellectual property, like user and device identities.
Cloud IAM is only one example of an effective, booming market where the cloud is concerned. Let’s take a look at a few key markets where cloud adoption is taking off:
“The secure transmission and storage of EMRs is one of the most important ways the cloud is used in health care.”
Health care industry
Organizations within the health care sector are already beginning to take advantage of the touted benefits of cloud computing. A 2014 study conducted by HIMSS Analytics found that 83 percent of health care organizations are using cloud-based services, with a further 9.3 percent indicating they intended to invest in the cloud in the future. The secure transmission and storage of electronic medical records is one of the most important ways the cloud is used in health care.
In addition, a recent report from Transparency Market Research indicated that the market for the cloud in health care research and development is driven by a number of factors, including large amounts of spending by major pharmaceutical companies. As these companies establish large research facilities around the world, cloud infrastructure will play a vital role in how employees at different facilities communicate and collaborate with one another.
Technology is a factor of constant change in the manufacturing sector. Cloud computing is becoming a tool that organizations can use to keep better track of the supply chain and create more efficient processes for the manufacturing and delivery of products. For instance, cloud-based enterprise resource planning software is being increasingly utilized by businesses in the manufacturing industry. Forbes contributor Louis Columbus reported in 2013 that businesses continue to move applications into the cloud, including ERP systems. Manufacturers make these kinds of migrations in order to increase efficiency and business intelligence across the board.
Small businesses and enterprises
It’s clear that enterprise cloud adoption is on the rise, and small businesses aren’t far behind in making the commitment to move data to the cloud. In a world where most small businesses intend to move their entire computing portfolios to cloud environments in the next few years, it’s important to understand why these numbers continue to rise. A recent survey conducted by Harvard Business Review found that 72 percent of IT and business executives claimed collaboration was the number one driver of cloud adoption.
The ability to collaborate within the cloud goes a long way toward increasing productivity and cut costs for every industry. Partnering with a cloud infrastructure provider that knows the ins and outs of enterprise cloud computing is in the best interests of companies from every echelon of the business world.