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. 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. These needs vary by industry, and each sector is growing at a different pace. As the holiday shopping season approaches, retailers are looking for ways to close their digital transformation gaps. As 2020 comes to an end, CIOs are looking forward to their mid-term and long-term IT challenges, opportunities, and needs. Press Esc to cancel. Increased spend on cloud services by select industries due to COVID-19. No wonder manufacturers are looking to the cloud as a long term investment in infrastructure and are the biggest adopters of hybrid cloud solutions. Type above and press Enter to search. It also helps in synchronization of data by defining a single point as a source of information and allowing access to it … today’s global economy, IDC recently launched a new research program called Industry By: Zachary Rabel Senior Research Analyst. (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. The banking industry does have a huge number of manual and repetitive processes executed by their knowledgeable workforce, impacting their performance and efficiency. 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. 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. Cloud adoption is increasing across organizations of all types. 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. In the same month, IBM and Siemens partnered on a new cloud management solution to build data and network systems. Cloud computing is a term that has gained widespread use over the last few years. 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. 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. TECH SUPPLIER free to email me personally at enewmark@idc.com. Conclusion. Public cloud is a disruptive technology, irresistible to the Financial Services Industry (FSI) due to its tremendous benefits, including agility, elasticity, … In today’s ultra-competitive business environment, operational models are changing faster than ever, and customer expectations are rising at an equally ferocious pace. Industries polled include financial services, manufacturing, life sciences, … This migration isn’t motivated by blindly following IT trends; real business needs are the drivers of enterprise-level adoption. The cloud is also seen as central to 24/7 digital engagement with customers, through apps, bots, and the Internet of Things. Cloud Computing Adoption Stats 8. Industry Clouds, Solutions and Technology Verticalization Strategies, Cloud-based partners, Hybrid cloud adoption grew 3X in the last year, increasing from 19% to 57%. 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. These statistics show that cloud adoption is only increasing by the day. The manufacturing segment spent $5 billion on cloud adoption in 2019 and expected to see more than 20% growth year over year. 9. 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’). The objectives of employing cloud infrastructures include collaboration, remote production and opportunities to innovate and producer greater amounts of content with less resource. Supply chain management applications. Cloud computing is not a new name anymore, and its adoption is growing consistently across various industries. 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. $ 5 billion on cloud adoption looked healthy in 2020, but COVID-19 is driving that?! 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