Report Code: IM11946 | Available Format: PDF
Healthcare Cloud Computing Market Overview
The global healthcare cloud computing market is expected to witness notable growth during the forecast period (2020–2030), mainly attributable to the increasing investments in the healthcare infrastructure to support data-driven decision making, growing shift toward digitization in patient data recording, surging adoption of big data analytics for real-time information management, and growing integration of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), in healthcare solutions for better disease diagnosis and improved patient outcomes.
Furthermore, the implementation of the cloud computing technology owing to its benefits, such as reduced cost, flexible data accessibility, and high storage capacity, is strengthening the market.
The healthcare cloud computing market has been classified into public cloud, private cloud, and hybrid cloud on the basis of deployment. Of these, the hybrid cloud category is expected to witness the fastest growth in the market during the forecast period, as the technology offers the benefits of both public and private cloud models. It offers cost optimization in addition to data scalability and reliability, thereby enabling organizations to upgrade their IT infrastructure.
The healthcare cloud computing market, on the basis of application, has been bifurcated into clinical information systems (CISs) and non-clinical information systems (NCISs). Of the two, CISs held the larger in the market in 2019. This can be mainly attributed to the high demand for these systems for managing unstructured patient data, including prescriptions and X-rays, in the healthcare system.
Geographically, North America held the largest share in the healthcare cloud computing market in 2019. Surging implementation of electronic health records (EHRs) by medical professionals, highly developed healthcare infrastructure, expanding applications of analytics in the healthcare sector, increasing demand for high storage data capacity, growing adoption of remote healthcare solutions, rising government support toward the deployment of advanced technologies, and growing healthcare spending in the region are the key factors supporting the market growth in the region.
Healthcare Cloud Computing Market Dynamics
Benefits associated with cloud computing solutions in the healthcare sector can be viewed a major factor driving the market, globally. The technology offers a range of benefits, including disaster recovery capabilities, high data storage availability, protection against unauthorized access, easy sharing of medical records, low cost and increased efficiency, and easy maintenance of telehealth applications. As a result, healthcare providers are focusing on shifting toward cloud networks to support data-driven decisions and accelerate innovation in the industry.
For instance, in September 2018, CareCloud Corporation entered into a partnership with Google LLC and joined the Google Cloud Technology Partner program to leverage Google’s Cloud Healthcare application programming interface (API) in order to expand offerings on the cloud platform, remove interoperability barriers, provide enhanced patient experience, and improve practice efficiency.
Healthcare Cloud Computing Market Competitive Landscape
The global healthcare cloud computing market is fragmented in nature, and the players are adopting growth strategies such as product launches, mergers and acquisitions, partnerships, and geographic expansions to strengthen their foothold and capture a larger customer base. For instance, in July 2019, U.S.-based, healthcare IT company Cerner Corporation announced collaboration with Amazon Web Services Inc. (AWS) to accelerate innovation in healthcare, globally. Under this collaboration, Cerner Corporation aimed at leveraging advanced technologies, such as AI and ML, in healthcare services to enhance patient experience and improve efficiency by reducing operational expenditure.
Major players operating in the healthcare cloud computing market include IBM Corporation, Oracle Corporation, Carestream Health Inc., CareCloud Corporation, Siemens Healthineers AG, Cerner Corporation, Microsoft Corporation, DXC Technology Company, ClearDATA Networks Inc., NextGen Healthcare Inc., Dell EMC, AWS Inc., and Cisco Systems Inc.
The report also covers country-wise market analysis. Some of the major countries covered in the report are the U.S., Canada, France, Germany, the U.K., Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia, and the U.A.E.
Market Size Breakdown by Segment
The healthcare cloud computing market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Component
Based on Deployment
Based on Application
Based on End User
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