Ascending cloud The adoption of cloud computing in five industries Cloud computing has clearly become a driving force in the information technology world. The cloud is also seen as central to 24/7 digital engagement with customers, through apps, bots, and the Internet of Things. 5 market overview and industry trends (page no. today’s global economy, IDC recently launched a new research program called Industry November 21, 2019. Cloud-computing adoption has been increasing rapidly, with cloud-specific spending expected to grow at more than six times the rate of general IT spending through 2020. The evolving cloud computing has provided companies with fast processing capabilities while establishing the link between multiple offices across the world by improvising the data security … To better understand both the benefits and barriers to public cloud adoption in the six APAC markets, Boston Consulting Group (BCG) conducted a survey alongside a series of interviews with senior executives and IT decision makers from a cross-section of industries. While cloud adoption is standard in many industries today, there are still some sectors lagging behind. Typically, these reasons revolve around compliance, regulations, and governance. In partnership with TechValidate, an independent third-party surveyor, Datavail conducted a cloud adoption industry benchmark survey with hundreds of companies to better understand what the cloud landscape looks like for organizations of all sizes. Cloud technology has quickly emerged as an essential ingredient of digital transformation for today’s sustainable businesses, but neglecting to embrace this shift, or even simply showing up late to the proverbial cloud party, can quickly spell disaster. Within broadcast the migration to cloud platforms for content production and management and delivery is a nascent market. Essentially, instead of building or expanding their own IT infrastructure (which would include hardware and involve developing and maintaining software applications and databases), enterprises can access computing resources hosted by third parties on the internet (the ‘cloud’). (discrete, process, high tech, automotive, A&D, CPG, chemicals, wholesale Some industries are already well equipped via the cloud to scale globally and automate and optimize various processes, while companies in other verticals are still struggling to appropriately respond to unexpected industry events and consumer requests. Content management, 4.8 cloud computing market regional scenario, 2020–2025 figure 27 asia pacific to emerge as the best market for investments in the next five years 4.9 market top countries, 2020 figure 28 top countries in cloud adoption. Industry Clouds, Solutions and Technology Verticalization Strategies. Industries polled include financial services, manufacturing, life sciences, … free to email me personally at enewmark@idc.com. However, FOCUS is seeing potential opportunities on the horizon for companies and investors prepared to seize upon cloud opportunities in the financial services, utilities, and healthcare industries. Public cloud adoption continues to accelerate. There are many other topics as well, such as benchmarking, pricing models, and even preferred buying channels. As the holiday shopping season approaches, retailers are looking for ways to close their digital transformation gaps. IDC’s “Future of” (FoX) research practices track the digital transformation trends driving the new CEO agenda and provide critical context by connecting technology market perspectives with a focus on business outcomes. Please fill out this form and we will get in touch. Using cloud computing you can synchronize data from multiple sources into a single dashboard, which relieves executives from the burden of manually transferring data from one system to another. 20 percent of enterprises spend more than $12 million per year on public clouds; 59 percent of enterprises expect cloud usage to exceed prior plans due to COVID-19; Organizations struggle to get a handle on growing cloud spend Migrating to cloud-based infrastructure and software offers organisations greater flexibility, predictability and scale. Partnering with public cloud providers to build and manage the cloud stack is the more typical approach. Improving Security for the Automation Industry. Over 90% of global enterprises report using cloud as part of their business.1 With over $33 billion in projected 2015 spend, cloud is now the largest category in IT infrastructure budgets.2 $1,500.00 Abstract. In any case, cloud adoption has its benefits and risks as well. With this agreement, both partners are setting new contract standards in the EU financial services industry, allowing the launch of regulated workload on Microsoft cloud services in Europe. Cloud technology is helping companies in every industry do more with less. To provide our customers with a bright window into the Title: Cloud Industry Forum Research: Cloud Adoption and Usage in the UK; Live at: Nov 19 2020 2:00 pm; Presented by: Alex Hilton, CEO of Cloud Industry Forum and David Terrar, Chairman of Cloud Industry Forum; From: The Cloud Computing Association (CCA) is an independent membership organization dedicated to building a community of end-users and service providers of cloud-based solutions and products. But already in 2017, anecdotal and case study evidence is emerging that the broadcast sector is accelerating its adoption of cloud platforms … Singapore and South Korea are relatively small markets, but Singapore in particular is advanced in its public cloud adoption rates. The classic drivers of cloud adoption for insurers are the same as those across other industries: flexibility, scalability and business continuity. Conclusion. Program Vice President; SaaS, Enterprise Apps, Industry Cloud, and Digital Commerce. Companies around the globe are moving to the cloud. Adoption of cloud computing by businesses in the UK 2015, by industry; The most important statistics . Title: Cloud Industry Forum Research: Cloud Adoption and Usage in the UK Live at: Nov 19 2020 2:00 pm Presented by: Alex Hilton, CEO of Cloud Industry Forum and David Terrar, Chairman of Cloud Industry Forum from go-to-market plans, to competitive intelligence, partnership selection, sales, Both markets continue to demonstrate strong growth potential. Deutsche Börse and Microsoft have reached a significant milestone by closing a contract for the adoption of cloud services in the financial services industry. Shows cloud embracement by industry. They will be the other two industries to feature among the top five spenders in 2022. Industry CloudPath 2019 Cloud computing is not a new name anymore, and its adoption is growing consistently across various industries. Clients of Industry CloudPath today are using the program’s Report on Legal Industry Cloud Adoption Recent studies conducted by LexisNexis Firm Manager show that cloud services’ impact in the legal industry. When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment. The key imperatives for cloud adoption for the O&G industry in a post-COVID environment include: Understanding the changing market drivers for cloud adoption in the upstream industry… As 2020 comes to an end, CIOs are looking forward to their mid-term and long-term IT challenges, opportunities, and needs. As the founder of a consulting firm that provides cloud-based accounting software and business-process-as-a-service outsourced accounting in the cloud, I ve gotten a first-hand look at the adoption of cloud software in finance and accounting. Cloud computing as a service model for meeting enterprises’ ICT needs. Manufacturing: This industry uses the cloud for logistics, sales support functions, HR, product development and life cycle management, as well as some manufacturing operations. This IDC Survey Spotlight discusses results from the Industry CloudPath Survey, polling industries on their adoption of industry clouds, which are cloud-based platforms through which multiple companies in an industry collaborate in some fashion toward a common goal, such as improving industry insight and/or capability. Financial Insights estimates that the biggest global banks are saving $15 billion from cloud adoption, cutting technology infrastructure costs by 25%. Cloud adoption in the banking industry is most obvious in the supporting sectors. Top 10 Cloud Adoption Trends in North America, Europe & Asia, Developers: Driving the Future of Digital Innovation, Function Offload Coprocessors: A New Era of Decentralized and Distributed Computing, U.S. Consumer Tech Spend Expands 17% in November, CIOs and Technology in the Future of Customers and Consumers, Top 10 Worldwide IT Industry 2021 Predictions, Leadership for an Era of Dynamic Hybrid Work. Cloud computing usage by region . According to one IDC survey on Worldwide Cloud Adoption in Manufacturing Industry, trends show that the adoption rate of public clouds is 66% and 68% have private cloud, out of 593 respondents across 17 countries including India. Thank you for submitting the form.We will be in touch. It also tracks the adoption and prioritization of more than 200 industry specific applications and workloads, including their deployment models and migration timelines. By: Zachary Rabel Senior Research Analyst. capital markets), Retail, Energy (oil & gas, utilities), Government Software industries head by 29% in cloud adoption followed by Tech services at 16%. Industries, such as IT and ITeS, telecom, online retail/commerce, media, and BFSI, are expected to increase spending on cloud-based services to sustain their business. individual industry are moving to the cloud, across 24 industry segments, In July, Volkswagen opened its industrial cloud platform to Amazon web services and other manufacturing companies. What are the key challenges facing the industry? Specifically, there are four key topics companies should address for successful cloud adoption at scale: 1. The advances in technology have completely revolutionized the business operations and everyday needs. Decide on sourcing. No surprise here. 41% of the legal community is of the opinion that their confidential data stored in the cloud is safe and 72.4% of the legal firms are in favor of cloud adoption. Adoption by Region. Industry CloudPath was Cloud adoption is no exception. Cloud adoption is increasing across organizations of all types. So… Join this webinar and we'll walk you through The results, the stats, a big picture view Because our consulting work is vendor agnostic, the guidance in The Cloud Adoption Playbook is easily applicable, regardless of how an organization … Cost optimization will drive cloud adoption. These statistics show that cloud adoption is only increasing by the day. Explore the ways in which cloud adoption varies across 24 industry segments with IDC's robust Industry CloudPath program and Eric Newmark. Report on Legal Industry Cloud Adoption. No wonder manufacturers are looking to the cloud as a long term investment in infrastructure and are the biggest adopters of hybrid cloud solutions. The Cloud Adoption Playbook will help guide anyone involved at any level of cloud adoption. 1 IDC, “The Salesforce Economy,” September 2016, salesforce.com. As the above report concludes, and as we see in the marketplace as well, financial services is looking to move to cloud-based platforms for a few key reasons: The ability to provide unique types of services in marketplace, such as new investment types. It also helps in synchronization of data by defining a single point as a source of information and allowing access to it … It fits them perfectly as they often need to retrieve heaps of delicate information from multiple secure locations. Covered in this report. , In the same month, IBM and Siemens partnered on a new cloud management solution to build data and network systems. Industry Cloud Adoption by Industry, 2020. This IDC Survey Spotlight discusses results from the Industry CloudPath Survey, polling industries on their adoption of industry clouds, which are cloud-based platforms through which multiple companies in an industry collaborate in some fashion toward a common goal, such as improving industry insight and/or capability. At least 30 per cent of businesses in all industries have adopted some kind of cloud app, bringing total cloud adoption up to 48 per cent across all verticals. distribution), Construction, Financial Services (banking, insurance, Adoption isn't yet widespread yet, but the industry's shift to the cloud is picking up speed as we catapult into the next decade. Written by a group of distinguished technical leaders from across IBM, the playbook will help your organization ensure a coordinated cloud adoption. In today’s ultra-competitive business environment, operational models are changing faster than ever, and customer expectations are rising at an equally ferocious pace. These needs vary by industry, and each sector is growing at a different pace. Our latest Cloud Adoption & Risk Report (download a copy here) examines the cloud usage of over 30 million users at companies spanning all major industries worldwide who use MVISION Cloud. All this seems to indicate that given the apparent direction in which the industry is moving, there’s never been a better time to get your head in the cloud. April 2018 | Report Format: Electronic (PDF) The global cloud managed services market size is expected to reach USD 82.51 billion by 2025, according to a study conducted by Grand View Research, Inc. Zachary RabelSenior Research Analyst. Also, various banking processes deal with voluminous and sensitive data, manual processing can be hazardous. 68% of experts say the cloud is very important when it comes to “new ways to make payments” and 21% think its somewhat important. With the COVID19 pandemic disrupting almost every aspect of life, it has also become increasingly evident that cloud adoption is no longer a good … Across more than 25,000 cloud services, each organization generates in excess of 3 billion events each month including logins, uploads, edits, shares, deletes, etc. Insurers recognise that cloud adoption may be the most natural way to build pools of structured and unstructured data, and link this “big data” to powerful on-demand analytics that can improve their understanding of customer risk and behaviour. Increased spend on cloud services by select industries due to COVID-19. TECH SUPPLIER Press Esc to cancel. These four factors will impact cloud adoption in 2020 and the steps that CIOs can take to thrive in a cloud-first world. Essentially, instead of building or expanding their own IT infrastructure (which would include hardware and involve developing and maintaining software applications and databases), enterprises can access computing resources hosted by third parties on the internet (the ‘cloud’). Cloud Computing Adoption Stats 8. Private cloud platform service adoption worldwide 2020, by service provider U.S. business use of managed cloud infrastructure services 2020 Enterprise cloud computing challenges 2019-2020 & Food Service, Telecom, and Professional Services. The global cloud managed services market size is expected to reach USD 82.51 billion by 2025, according to a study conducted by Grand View Research, Inc. DUBLIN, July 20, 2020 /PRNewswire/ -- The "Cloud Services Market by Service Type, Cloud Type, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry … Cloud computing as a service model for meeting enterprises’ ICT needs. Recent studies conducted by LexisNexis Firm Manager show that cloud services’ impact in the legal industry. In 15 months, 80% of all IT budgets will be committed to cloud solutions. Our study of cloud adoption exposes industry-specific differences, paradoxes, and the opportunities and threats that service providers must understand to take advantage of one of the biggest growth opportunities we've seen in decades. The cloud computing future trends suggest that process manufacturing and retail also invest heavily in the cloud. The energy sector, which is my company's expertise, is an example of how the cloud can transform an industry's operating procedures. Type above and press Enter to search. Where are the opportunities, where are the risks and what lies ahead? Who is the consumer and what do they want? While most recognize the inevitable need to shift their business to the cloud, today’s pace of cloud adoption differs dramatically by industry. 41% of the legal community is of the opinion that their confidential data stored in the cloud is safe and 72.4% of the legal firms are in favor of cloud adoption. including Healthcare (payers, providers, life sciences), Manufacturing To learn more marketing, and even product development. insight to help drive strategy and growth across all aspects of their business, Checkout IDC’s Industry CloudPath: Vendor Ratings report to see how IaaS vendors compare in terms of services, vulnerabilities, and cloud vendor and services adoption. In its latest annual report on the state of the UK cloud computing market (subscription required), the Cloud Industry Forum identified a year-on-year 5 percent increase in cloud adoption, with 88 percent of businesses now using cloud-based services. (CWS) According to statistics on cloud computing adoption, the use of hybrid cloud infrastructures is by far the most popular one in all IT sectors. Industries polled include financial services, manufacturing, life sciences, oil and gas, retail, wholesale distribution, professional services, media and entertainment, utilities, healthcare, and government. Also, various banking processes deal with voluminous and sensitive data, manual processing can be hazardous. According to Rightscale, North America leads by 62% in Cloud adoption and 18% of European companies have opted for Cloud services. Unsurprisingly, looking at the cloud adoption by industry, industries that deal with the most data yield the most active investors. The list is too long to appropriately discuss in this blog post, so we’ve created a short 5 minute video that helps provide a more thorough in-depth look at the Industry CloudPath program and demonstrates how flexible and easy the program makes it to access the data and insights specific to your company’s needs. According to one IDC survey on Worldwide Cloud Adoption in Manufacturing Industry, trends show that the adoption rate of public clouds is 66% and 68% have private cloud, out of 593 respondents across 17 countries including India. DUBLIN, July 20, 2020 /PRNewswire/ -- The "Cloud Services Market by Service Type, Cloud Type, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry … Indonesia, while at a nascent stage of cloud adoption, is expected to see a rapid growth in public cloud use over the coming years. Cloud adoption is increasing across organizations of all types. The ability to transfer a large proportion of hardware, infrastructure and data storage costs to a third party that attractive. It’s difficult for most companies to build their own cloud technology stack and even harder to maintain it. Cloud computing is a term that has gained widespread use over the last few years. The latest research from the Cloud Industry Forum (CIF) reveals that the overall cloud adoption rate in the UK now stands at 88 per cent, with 67 per cent of users expecting to increase their adoption of cloud services over the coming year. Please fill out this form and we will get in touch continue to strengthen their native optimization … adoption... Volkswagen opened its industrial cloud platform to Amazon web services and other manufacturing companies these needs vary by ;. Need to retrieve heaps of delicate information from multiple secure locations by LexisNexis cloud adoption by industry... 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