The possibility of data backup in cloud is one of the major drivers of on-premises and cloud-based solutions market. With Cloud, data can be stored as a backup, and can be accessed, whenever needed. Some of the other drivers of cloud based solutions are lower entry cost, integration and scalability, pay-per-use functionalities, and total responsibility of the vendor to updates, uptimes and security. By using a cloud-based platform, data can be accessed anytime and anywhere on smartphones and tablets having internet connection. The use of on-premises and cloud-based solutions result in fast access to data, and increased productivity.
On-premises deployment refers to implementation of software or services into the premises or the systems of the enterprise. A cloud based deployment is well suited for organizations, with tight IT budgets, and lower front costs. The integration considerations can often influence the deployment method.
Within the cloud based solutions, the cloud services segment is mainly involved in marketing and trading of subscriptions to the cloud software offerings. The on-premises segment develops its revenues, mainly through the sale of mobile software, on-premises software, and services relating to such software.
The challenges associated with the implementation of cloud services, include non-supportive regulatory environment, and data security. The on-premises platform offers a better solution, than its peers in terms of security. Sensitive data should be safely kept behind the corporate firewall. In comparison, the idea of keeping sensitive information offsite with a cloud supplier is likely to increase the worries of C-suite. Moreover, laws in certain countries enforce restrictions on the storage of local data, outside the country. Therefore, the users operating in these countries need to ensure that the location, where vendor is storing data complies, with the prevailing laws and regulations.
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Google Inc., Amazon Web Services, Parallels IP Holdings GmbH, HubSpot, Inc., are the major competitors within the global cloud based solutions market. Major competitors in the global on-premises solutions include Epicor Software Corporation, Infor, and Oracle Corp.
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