Long gone are the days of managing everything on excel sheets, documents, or your physical system. We reside in the era of digitalization where trends and technology such as cloud applications are accelerating business functioning at a rapid pace.
Surprisingly, cloud computing—the next generation of on-demand computing services—has transformed how organizations manage their systems and data storing techniques. The technology facilitates sharing of computing infrastructure and information on a global level.
As per Gartner, more than 45% of IT spending on system infrastructure, infrastructure software, business process outsourcing, and application software will shift to the cloud from traditional solutions by 2024. Businesses of all sizes are creating foundations for new opportunities in the digital world with cloud computing.
Currently, Information Technology is not the only industry leveraging the cloud, but many other enterprises are embracing cloud application development to reap various benefits. A few prominent sectors incorporating cloud computing are manufacturing, education, healthcare, and real estate.
Cloud computing applications are paving new ways for businesses to achieve immense growth through access to on-demand applications and servers. Cloud is not restricted only to large enterprises, but small and medium-sized enterprises can easily set up state-of-the-art cloud environments, including features like data center consolidation, cloud back-up, and hosting mobile applications.
Of course, cloud computing is not without its drawbacks, namely a need for heightened security measures. However, the numerous benefits it offers outweigh the setbacks. High scalability, more flexibility, and increased efficiency than local device data storage are a few benefits that the cloud provides.
In 2016, one of the world’s biggest data gatherers, Netflix, migrated all its databases to the cloud, generating more data, onboarding new users, and efficiently managing the increasing usage metrics.
Currently, the cloud is impacting every corner of the business world. In this post, I will tell you about the various industries where cloud computing applications are becoming an active component of business growth.
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Cloud technologies usage in the educational domain is experiencing a notable surge in the growth graph. They are becoming prevalent and are opening various opportunities for institutions, teachers, and students. With the cloud, learning stretches from physical classrooms to e-learning, online distance learning platforms, and student portals for storing information.
As per the latest stats, the global cloud computing in the higher education market is forecasted to reach USD 8779.1 Million by 2027, with a CAGR of 22% over the projected period.
Here are a few benefits of the cloud technology in the modern education environment:
- Improved administration
- Reduced time and costs
- Access to large sets of information
- Online education courses at the fingertips
Some most used educational clouds are Google Classroom, Coursera, Knowledge Matters, AWS in Classroom, and Microsoft Education Center.
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Cloud in healthcare plays a pivotal role in the industry growth as it works collaboratively for healthcare centers, concerned doctors, and patients. The cloud works hand-in-hand with users and offers flexible solutions to efficiently store, process, and access healthcare data.
Cloud computing applications in healthcare enable users to access the patient’s data remotely, saving the extraction time from physical systems in hospitals. Also, other treatment facilities like lab reports, ambulance availability, and emergency calls information can be accessed anytime from anywhere.
As per the latest statistics by MarketWatch, the global healthcare cloud marketing size is estimated to reach USD 25.54 Billion by 2027, with a CAGR of 23%.
Let’s know what advantages Cloud in Healthcare brings:
- Collaborative patient care
- Superior data security
- Fewer chances of errors
- Drive medical research with Big data analytics
Cloud services such as Health Cloud, Sales cloud, and community cloud are widely used by the healthcare industry globally.
3. Real Estate
Over the years, real estate methodologies have entirely altered how the industry functions. The target audience has now been shifted to younger generations ready to invest in their first home, creating high time for organizations to switch to the cloud. Post-pandemic, 80% of the top real estate companies migrated to the cloud in one form or another.
Here’s how cloud computing applications are benefitting the real estate industry:
- Highly cost-effective
- Remote accessibility to data
- Enhanced security measures
- Data insights help in better decision making
- Disaster management protocols
- Better control of data flow
A common cloud computing application used in real estate is Zillow VR.
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4. Social Media
Social media networking platforms have transformed the way people interact and communicate. Millions of users use social media, and more are adding up daily. With abundant data created & forwarded, social network platforms are adapting cloud application development services to better connect with the business target audience. Cloud applications in social media help web or mobile applications to run with ease and deliver an ultra-smooth user experience.
No wonder cloud brings numerous benefits to social networking platforms; let’s get a glimpse of them:
- Better flexibility & scalability
- Increased efficiency with reduced costs
- Enhanced security and continuity
- Automatic updates
The most commonly used applications are Facebook, LinkedIn, Twitter, etc.
Nowadays, we are dependent on the internet, even for entertainment. Over the internet, we can now access & share comprehensive data with the community or stream some great shows anytime. All the data is stored in multi-clouds to provide a unique customer experience.
All content is available on-demand, and the entertainment industry is leveraging cloud applications to reach new heights every quarter.
Here are a few benefits that the entertainment industry is experiencing with the cloud:
- Better customer experience
- Quick launch of new services
- Reduced workflows
- Accelerating content production
- Scalable & secure
Netflix, Audible, and Twitch are a few examples of successful cloud applications in the entertainment industry.
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The major challenge for the finance industry while equipping new technology is adhering to security protocols. However, cloud computing applications are highly secure, and for decades the fintech industry has been entrusting the cloud. It aims to reinvent the way financial services work with easy day-to-day tasks like customer billing, communicating with representatives, and interaction within the financial teams.
As per the latest stats, global financial technology will reach a market cap of approximately USD 324 Billion by the year 2026 at a CAGR of 25.18%.
How leveraging cloud computing applications for fintech is benefitting the industry:
- Large data aggregation is simplified
- Enhanced security measures
- Improved customer experience
- Stronger relationships with users
AWS, Azure, Google Cloud, and customized clouds are the most used cloud services opted by the industry pioneers to deliver an ultra-smooth user experience.
7. Manufacturing & Retail
The organizations understand the large amount of data generated during the manufacturing and entire retail processes. The data has to be maintained & updated to keep all levels on the same page. Cloud development services make it possible to remotely update data on supply chain management systems and manage retail data with ease.
Cloud empowers industry verticals to eliminate capital expenditure and minimize operating costs associated with manufacturing plants at various locations.
Let’s understand how manufacturing and retail industries benefit from Cloud computing applications.
- Efficient inventory management
- Increased data security
- Remote updates ensure easy workflows
- Faster decision making
- Innovation at its peak
Data management clouds and SaaS clouds are the primary clouds transforming the manufacturing & retail industries by understanding the new production revolution.
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I hope you like the above-shared cloud computing applications for various industries. With the increasing statistics of cloud-based applications in diverse sectors year-over-year, it’s safe to portray that cloud computing will rise over the data center with advanced security measures in the future. Organizations will also incorporate multi-cloud strategies where multiple cloud environments will share workloads. However, the organizations will source the services from different cloud vendors. As cloud development services continue to evolve, they will shape the future of the various industry verticals with their immense potential to bring powerful transformations to the ways users interact with end-to-end applications.
Author Bio – Saurabh Singh is presently the CEO and Director of Appinventiv – a 20 million+ revenue earning company, offering software development services through its 650+ employee strength. He is a resilient, and visionary entrepreneur with a grit of 16 years of innovation in the technology outsourcing & product development Industry.