Sector adoption
Prominent early adopters of industry cloud span diverse sectors, such as telecommunications, IT services, banking, and discrete manufacturing industries. Following closely are professional services, investment, and insurance sectors. Non-traditional sectors such as media and agriculture are now embracing industry clouds. Although agriculture remains an emerging sector, its applications include curated solutions for managing crop data, predicting weather patterns, and optimizing a farm-to-fork supply chain.
Below we discuss a few advantages of industry cloud for various sectors.
BFSI: Banking-specific solutions enable targeted upgrades of various banking systems, minimizing risk. Payment modernization solutions enhance efficiency in operations teams with real-time payment data, allowing customers to send money seamlessly. Insurance-specific cloud solutions offer advanced analytics that combine financial, actuarial, investment, and risk data to drive better decision-making across the enterprise. By linking legacy systems with modern applications, insurance-specific solutions can also reduce the need for physical property inspections during underwriting while improving accuracy through AI-powered property analysis.
Energy utilities: These solutions support the entire customer journey from lead generation to field service, offering a unified view of customers and connected products for manufacturing clients. They also enable the implementation of smart grids, enhancing the monitoring and control of energy distribution networks. By leveraging advanced analytics and connecting various technology platforms, energy utilities can gain insights into risks and operational costs, optimize assets, manage portfolios, implement proactive maintenance, and more. This ultimately leads to faster returns on IoT investments and accelerates smart factory transformation.
Healthcare: Protecting sensitive patient data is paramount for healthcare companies. Cloud solutions tailored to the healthcare sector provide a secure and patient-centric cloud-based platform that enables remote monitoring, real-time patient data collection, and innovative patient engagement techniques, improving the overall clinical experience. These solutions leverage advanced analytics for population health management, predictive analytics, and personalized medicine, all while adhering to strict healthcare regulations to ensure patient data privacy and security.
TMT (technology, media and entertainment, and telecom): Industry clouds offer specialized infrastructure services that streamline the software development lifecycle with integrated tools for coding, testing, and deployment. They also feature built-in cybersecurity capabilities for advanced threat detection, vulnerability assessments, and compliance management, helping TMT organizations protect their IT assets. For telecom companies, specific cloud solutions provide tools for optimizing network performance, managing traffic, and ensuring high availability, enabling them to deploy new services such as 5G-enabled applications.
While each industry — and the companies within them — is unique, it is crucial to identify the vertical CSP that provides solutions suited to their business needs, minimizing data risk. As the industry cloud technology is still in nascent stages, companies should thoroughly evaluate solutions before selecting a vertical cloud provider to safeguard their data and access best-in-class services.
