Market Highlights
The robust developments in technology are generating opportunities for digitalization in the healthcare sector and are expanding the health cloud market of 2020. Integration of the Internet of Things (IoT) in the healthcare sector has led to the generation of a considerable amount of patient data across the organization and is estimated to grow more rapidly. Increasing usage of smart medical devices for a health check and tracking purpose also enhances the data generation across the sector. Moreover, the cost-effective characteristics, scalability, useful data storage capability, and flexibility offered by the cloud platform reduces the expenses associated with IT infrastructure, and it directly affects the market at a global level. However, privacy concerns and data security are the factors acting as an obstacle to the expansion of the market.
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Segmentation:
The global health cloud has been classified based on region, component, application, end-user, deployment, and service model.
On the basis of region, the market has been classified into South America, North America, the Middle East, and Africa, Europe, Asia-Pacific.
On the basis of components, the market has been classified into services and software. The service segment has further been sub-divided into training, consulting, maintenance, and implementation.
On the basis of application, the market has been segmented into care management, clinical data management, analytics & reporting, data storage, and others.
On the basis of end-users, the market has been classified into ambulatory centers, hospitals, pharmacies, imaging centers, diagnostic, and others.
On the basis of deployment, the market is classified into the hybrid cloud, private and public.
On the basis of the service model, the market is classified into SaaS, IaaS, and PaaS.
Regional Analysis
The Health Cloud Market Share is estimated to expand at a considerable rate during the forecast period from 2019 to 2024. The regional analysis of the global health cloud market is performed for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America is anticipated to lead the global health cloud market during the forecast period. In order to increase patient engagement, healthcare organizations across the region are adopting health cloud solutions. Moreover, the Patient Protection and Affordable Care Act (PPACA) passed by the US government to practice better quality healthcare assistance to the citizens is projected to impact the market growth in the region, in a positive manner. At the same time, the security requirements and the data privacy endorsed by the US government through the Health Insurance Portability and Accountability Act is estimated to obstruct the regional expansion of the market. The region is classified by Mexico, Canada, and the US.
In terms of market share, Europe is following North America is the global health cloud market. Rising the adoption of cloud platforms for better patient management is one of the significant causes of driving the market in the region. However, the European government is majorly concentrating on data protection where the data is secured and cannot be shared outside the European area, which will impact the growth of the market.
The APAC region is estimated to expand at a significant rate during the forecast period. Rising digitalization, promotion, and adoption of cloud-based services in these regions have added to the demand for health cloud platforms throughout the healthcare organizations to study the expanding healthcare data. Increasing modern adoption technologies such as big data analytics, IoT to analyze the insights have helped the market ton gain momentum in the region.
Key Players
The distinguished players in the global market of health cloud are ClearData Networks Inc. (US), IBM Corporation (US), Amazon Web Services, Inc. (US), Salesforce.com Inc. (US), Siemens AG (Germany), Oracle Corporation (US), General Electric Company (US), Microsoft Corporation (US), Cisco Systems, Inc. (the US), and others.
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Global Health Cloud Market Research Report: by Component (Software and Services), by Deployment (Private, Public and Hybrid), by Service Model (IaaS, PaaS and SaaS), by Application (Clinical Data Management, Analytics & assessments, Data storage, Care Management and others), by End User (Hospital, Diagnostic and Imaging Centers, Pharmacies, Ambulatory Centers and others) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) - Global Forecast till 2027
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