I would say the biggest change that could create a shift back to on-premise will be bandwith costs.  

The Telco's are sitting back and waiting for the tipping point where they know all your data is sitting in the cloud and the only way for companies to access is it is through them.

At the moment companies gets entrenched in the cloud (Both client and vendor) the Telco's will be in position to cash in.
They will be the modern day railroads and as of right now there is no way to move data without them.

They will attempt to move to a new model where companies are charged on a per MB to use their data and for priority access. Vendors will also get charged on the other side for priority access.
We already this happening today when the telco start throttling home connections or connections to services like Netflix.

If that starts to occur cloud adoption will slow, especially for centralized companies, and could also be the trigger to consider re-centralizing staff back into the corporate office.