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Technology is constantly changing. As it evolves, tech tools continue to find new and exciting uses, including the latest stage in software development: industry cloud platforms.
These vertical cloud platforms are a critical and emerging section of the technological sector. Here are a few considerations regarding what this new software solution looks like today and where it could head next.
Industry cloud platforms exist to solve the specific needs of a business in a particular vertical. Rather than providing a generic solution that an enterprise must tailor to its needs, they bring infrastructure (IaaS) services and software solutions to bear on targeted industries.
This can relate to compliance, management, and other operational activities — and is why industry cloud platforms tend to take on the appearance of bundles of services. These collections of applications give companies the ability to address the particular needs that come from operating in their business sectors.
Each industry cloud platform solution brings a unique combination of cloud services to the table. It proactively integrates them and presents them in an applicable and adaptable manner.
It's estimated that the potential market for industry cloud platforms is as much as $640 billion of the overall cloud market (valued at $1 trillion). That potential market is a good indicator of why the concept of industry-focused cloud computing has taken such a massive leap forward. The question is, where is the burgeoning vertical of the tech sector going next?
Here are five trending areas that will significantly impact where industry cloud platforms go next.
One of the simplest yet most profound unfolding elements of the new sector is the acknowledgment of vertical cloud platforms as a viable and valuable addition to business. Business owners historically need help to see the applicability of technology often because tech tools are not tailored to their particular vertical or industry.
Industry cloud platforms remove this barrier. As they come into the spotlight, many entrepreneurs, managers, and other leaders see the value they create. They see they're adaptable, hyper-relevant, and use industry-specific data sets. This growing recognition is a critical first step in long-term growth.
Recognizing the potential of a tech tool may be an important genesis point. But ultimately, adoption is what truly matters — and it's already beginning with industry cloud platforms
In a recent survey, Gartner found that 40% of North American and European companies had already started to adopt industry cloud platforms. A further combined 30% were in a pilot phase or were considering deployment in the near future. The research firm also shared that it expects industry cloud platforms to accelerate 50% of “critical business initiatives” by 2027 — up from 10% in 2021.
The takeaway is that these revolutionary tools are no longer interesting or thought-provoking ideas still in development. Bundling targeted tech packages for industry verticals is already being accepted and applied by a growing number of companies in the real world.
As with most tech, the precision of targeting industry cloud platforms toward specific industries is just the tip of the iceberg. Already developers are investing in turning industry cloud platforms into hyper-specific tools that can meet the one-of-a-kind needs of each company that uses them , thanks to efforts to make the different pieces of each software collection compatible, modular, and adjustable.
This generates composable tools businesses can use to orchestrate solutions to their needs. The result is that, even within each vertical, technology is becoming further targeted toward industry scenarios and solutions rather than coming in a pre-defined condition that companies must then creatively integrate into their activities.
Industry cloud platforms are fascinating combinations of software and tech tools. As the idea develops, this inward complexity is also being reflected outward as industry cloud platforms begin to approach cloud ecosystem status.
The concept of cloud ecosystems is a communal feature that combines smaller cloud platforms into a complex and interdependent network of software solutions. In effect, this creates macro versions of industry cloud platforms that operate as networks or ecosystems for businesses to function within.
As the spotlight on the industry cloud platform sector grows, the number of niche applications and vendors will also continue to scale. Everything from industry-specific CRM tools to ERP software and countless other specialized technologies is likely to appear.
As they’re developed, these will be composable and adaptable to help meet the needs of individual verticals. At the same time, the diversity of industry cloud platform solutions will begin to feed into that larger ecosystem status highlighted in the previous section. This proliferation of applications will play a key role in developing a more robust and diverse industry cloud platform sector.
The intense utility of industry cloud platforms makes their continued growth inevitable. The question is, how will companies find ways to apply or create industry cloud platform solutions for their daily activities?
That’s where working with a third-party developer can be invaluable. Building and implementing vertical-specific technology is labor-intensive and requires specific knowledge. Working with an expert-level software development company like Chetu can streamline that process. It taps into a source of support experienced in building custom cloud computing solutions for different industries.
If your company is considering rolling out an industry cloud platform in the future (or is already mired in an attempt to do so), take the time to invest in targeted tech solutions that are uniquely effective and tailored to your business’s needs.
Chetu, Inc. does not affect the opinion of this article. Any mention of specific names for software, companies or individuals does not constitute an endorsement from either party unless otherwise specified. All case studies and blogs are written with the full cooperation, knowledge and participation of the individuals mentioned. This blog should not be construed as legal advice.
Chetu was incorporated in 2000 and is headquartered in Florida. We deliver World-Class Software Development Solutions serving entrepreneurs to Fortune 500 clients. Our services include process and systems design, package implementation, custom development, business intelligence and reporting, systems integration, as well as testing, maintenance and support. Chetu's expertise spans across the entire IT spectrum.
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