4 Industries Embracing The Cloud

Cloud computing is becoming a preferred computing option across almost every industry, and it is expected to grow in prevalence over the next few years.

The cloud offers a lot of advantages over on-premise computing solutions, ranging from cost savings to increased productivity. While some industries are still cautious about jumping on the cloud bandwagon, others are embracing the new technology with great enthusiasm.

Here is a look at four industries that are leading the way in cloud adoption:

Retail Industry

These days, more and more consumers are using digital technology to get product information and make purchases, and retailers need to provide a seamless shopping experience across a variety of channels in order to remain competitive.

By adopting cloud computing, they can meet their customers' needs more efficiently and effectively with real-time personalized offers and marketing efforts.

According to an Accenture forecast, the cloud computing market in the retail industry is expected to grow by more than three times between 2011 and 2015, from $4.2 billion to $15.1 billion.

Retailers can improve almost every aspect of their businesses by switching to cloud computing, including channel operations, merchandising, marketing, supply chain, sales, customer service and support.

Legal Industry

When cloud computing was first introduced, the legal sector was one of the industries that were hesitant to adopt it. However, increasing acceptance of the technology in recent years has made it one of the top 4 industries that are embracing the cloud.

In a study conducted by LexisNexis, about 72 percent of attorneys from independent law firms in the US said that they are more likely to make use of cloud-based tools in 2014.

Law firms are one of the types of businesses that have a lot to gain from cloud adoption, because the cloud can provide reliable and secure storage for vast quantities of data, as well as easy data access.

Additionally, it improves data mobility, offers secure data backup and substantially reduces or eliminates IT infrastructure, software licensing and IT personnel costs.

Finance Industry

According to Gartner, more than 60 percent of banks around the world will be using cloud computing to process most of their transactions by 2016, and capital markets will adopt the technology at a faster rate this year.

There are many reasons why more and more banks are reaching for the cloud.

Other than being a cost-effective computing solution, it can also help banks achieve higher levels of consistency, standardization, productivity, agility and responsiveness, and make it easier and faster for them to deliver new products, enter new foreign markets and fulfill their growth agendas.

Manufacturing Industry

Cloud computing is a great computing solution for manufacturing companies because it enables them to avoid the numerous business and technical problems that come with running their own data centers, and it also reduces IT costs significantly.

By embracing the cloud, manufacturers can also establish a presence in almost any place around the world, connect manufacturing plants to an IT infrastructure and search for new business opportunities globally.

According to MintJutras, SaaS-based applications accounted for 22 percent of all manufacturing and distribution software installations in 2013, and the figure is expected to rise to 45 percent within 10 years.

The benefits of cloud computing are virtually endless, and businesses that have not adopted this technology should do so as soon as possible, or they will be left behind by their competitors.