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Healthcare Cloud Computing Market Is Expected To Surge 6x Over The Next Ten Years And Top A Valuation Of US$ 90 Bn In 20

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The global healthcare cloud computing market is anticipated to be valued at US$ 14.5 Bn by the end of 2021, and is expected to expand at a stupendous CAGR of 24% over the next 10 years, to reach an estimated value of US$ 90.5 Bn.


Healthcare cloud computing refers to a process which involves delivering hosted medical services to the clients. These services can be classified into majorly three types: infrastructure-as-a-service, platform-as-a-service, and software-as-a-service. A cloud can be public, private, hybrid or community in nature.


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Globally, the healthcare cloud computing market is witnessing significant growth due to increased government healthcare IT spending and advanced features of cloud computing services In addition, rising demand for better healthcare facilities, increasing in popularity of wireless and cloud technologies are driving the healthcare cloud computing market.


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However, factors such as high cost involved in the implementation of clinical information systems and lack of security and privacy of patient’s information restrain the global market for healthcare cloud computing market. In addition, interoperability issues negatively impact the growth of the healthcare cloud computing market.


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North America has the largest market for the global healthcare cloud computing market. This is due to technological advancements in the region. The North American market for healthcare cloud computing held 35% of the global share in 2020. In terms of deployment model, hybrid clouds are the fastest growing segment. In terms of service model, software-as-a-service (Saas) is the largest segment of healthcare cloud computing market.


One of the latest trends that have been observed in the global healthcare cloud computing market includes increasing use of mobile devices for delivering healthcare services.


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Microsoft Corporation and International Business Machines Corporation are some of the leading players in the global market for healthcare cloud computing market. Some of the other major players in healthcare cloud computing market are Agfa-Gevaert N.V., CareCloud Corporation, Dell Inc, ORACLE CORPORATION, GE Healthcare, and Merge Healthcare Incorporated.


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