According to the prediction of markets and markets, the global cloud computing market will grow from US $445.3 billion in 2021 to US $947.3 billion in 2026. Today, enterprises are using cloud infrastructure to meet their various needs and redesigning business processes to effectively align with current market trends.
So, what industries will cloud computing drive?
1. Financial services
Cloud is emerging rapidly as an effective solution to meet the growing needs of the financial services sector. Many traditional financial institutions and financial technology start-ups recognize the benefits of cloud computing and are migrating to cloud computing to provide better user experience, simple scalability and data management.
One of the main challenges faced by financial institutions is that more and more data are generated and consumed by bill information, credit card transactions, stock transactions, insurance, loans and borrowings. The storage and security of these data has always been important. Cloud computing provides a cost-effective solution that can expand the storage capacity of banks on demand without compromising the integrity of confidential information.
In addition, cloud infrastructure helps simplify operations and improve efficiency by bringing buyers and sellers to a common application platform, improving speed and reliability. According to the research report, after migrating to cloud infrastructure, the operating cost has been reduced by 10% - 20%. In addition, cloud computing provides a higher level of redundancy than traditional management systems and backups.
Cloud infrastructure fosters an environment conducive to flexible applications and market products that can be developed in a shorter time and pay attention to customers' dynamic needs and market trends.
2. Retail industry
Cloud computing can benefit the retail industry in many ways, and is reforming the operation mode of the retail industry in terms of inventory management, data security and enhanced customer experience. Cloud computing applications in the retail sector have driven the growth of the global retail industry with a record CAGR of 16.3%!
In the retail field, no matter where you access inventory, you can experience inventory at your fingertips through cloud computing. By providing key data insight and analysis, real-time data and Cloud Architecture, it provides an effective way of stock management for large retail groups. This allows better decisions when it comes to business operations and commodities.
3. Medical industry
For security reasons, the healthcare industry has long been one of the industries that refuse to adopt cloud infrastructure, and this is a time-consuming process. However, considering the dual interests of patients and doctors in cost, data privacy and improving patient prognosis, medical institutions are generally turning to the cloud.
Specifically, with the novel coronavirus pneumonia epidemic, the rapid development of remote health care and telemedicine has led to an increase in patient health parameters and remote monitoring of medical devices.
This raises data security issues and compliance with medical regulations. With cloud computing, there is a powerful healthcare data protection mechanism in the case of remote consultation. The cloud helps ensure that healthcare providers have access to data storage solutions that properly protect sensitive patient information.
4. Education sector
The application of cloud computing in the field of education has brought remarkable progress. In 2021, the value of cloud computing in education is expected to reach US $25.36 billion. By 2027, cloud computing in higher education is expected to grow at a compound annual growth rate of 25.4%.
Due to the emergence of cloud computing, especially in the case of distance learning caused by unforeseen epidemic, education becomes easier. Teachers can better plan their courses and use innovative teaching tools to help students better understand concepts. Students can also cooperate with students and share notes.
According to a survey by International Data Corporation (IDC), 66% of enterprises in the global manufacturing industry use public cloud services and 68% use private cloud services. In 2017, about 25% of the investment in the final product was some form of digital technology, including cloud computing.
"Intelligent manufacturing" brings higher productivity and optimized efficiency. Cloud computing provides a cost-effective solution for enterprises that lack the funds to invest in a wide range of IT infrastructure for their manufacturing business.
Cloud computing exists in many fields of manufacturing. From product development to final product marketing, product management and inventory tracking. The cloud infrastructure for manufacturing is specifically designed to supplement the human resources of the industry.
Complex marketing campaigns can use cloud automation and similar tools. Cloud technology combines product planning and production with the supply chain to provide a comprehensive overview of business operations. Enterprises use ERP Based on cloud services to track production and inventory levels, as well as sales.
The use of cloud technology is very common in this field. Enterprises that do not adopt some form of cloud technology will face direct disadvantages. In fact, the manufacturing industry has the largest investment plan for cloud computing services.
When the problem occurs, cloud computing is assisting various departments to deal with the problem. Cloud technology enables novel coronavirus pneumonia to meet various challenges such as network security, automatic scaling, quality control and big data.
Therefore, it is clear that cloud computing will continue to exist and will enable the industry to achieve their business goals in the future.