What Does Industry Cloud Mean?
Industry cloud is a cloud system that has been heavily customized to fit a specific industry in order to accommodate the business, operatory, legal, regulatory, as well as security and other considerations. The main focus of industry cloud is vertical integration and vertical solutions rather than horizontal ones, which is the focus of general cloud computing. This means that industry cloud solutions focus on creating more value within the bounds of the industry in which it is used rather than expanding the breadth of that industry.
Techopedia Explains Industry Cloud
Industry cloud is not a new type of cloud or paradigm, it is simply a specific method of creating a cloud. This method is about vertical movement, giving more precise and custom solutions or products that are very specific to the organization that is using it. For example, financial institutions like banks and insurance companies might offer their customers cloud computing solutions that are closely related to the financial industry and giving great value to that specific segment. It is not meant for reaching a wider audience, but providing highly specialized services to the current ones.
There are industries that have been very resistant to the change that cloud computing has brought simply because it does not provide the very specific needs that a vertical market organization such as a financial or medical institution needs. Vertical here simply means that it is very specific and would rarely overlap with other industries in terms of needs, regulations and processes. That is why these organizations need very specialized cloud applications and systems that are specifically tailored to their industries, hence the term industry cloud was coined.