Cloud computing comprises an on-demand distribution of database, applications, storage, computing power and supplementary IT essentials through internet with a pay-as-you-go model of pricing. It caters an enterprise by offering access to databases, servers, storage and an array of application services over the Internet. A cloud services providers such as Amazon Web Services own network-connected hardware essential for application services.
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The global market size for cloud computing market was USD 11.66 billion in 2018 and is anticipated to rise up during the forecast period. The factor that led to higher adoption of cloud computing is, big data offer customer insights and help retailers offer personalized offering to customers. Cloud services are able to merge the in-store data with the digital data to offer the best solutions to their customers. This enables retailers to have an enterprise-wide supply chain insight or visibility. The technology help retailers own supply chain systems which are capable of effectively handling their business without expedited deliveries, stock-outs or high inventories. In addition to that, cloud helps in capturing digitized documents from suppliers, logistics providers, carriers, brokers, etc. and real-time status of consignments. For instance, Cargill used blockchain technology to trace each and every Thanksgiving turkeys. The technology involved to implement this was deployed on a cloud-based system.
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The key players in global cloud computing in retail and consumer goods are Amazon Web Services, Microsoft, Google Cloud Platform, IBM, Artha Systems LLC, Cloud4Wi, Commercetools, NextOrbit, PlumSlice Labs, retailcloud, Springboard Retail and SPS Commerce.
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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