Market Insights
Market Research Future (MRFR) studied the cloud computing market 2020 through the review period till 2023. As per MRFR analysis, the global cloud computing market is anticipated to register considerable CAGR and earn substantial revenue by end of the review period. The ingression of cloud-based technology in healthcare facilities offers several important benefits that aid in boosting operations efficiency of organizations. The cloud deployment of IT software assists in the collection of real-time data and data retrieval with greater convenience and eliminate manual errors. Document processing is a rigorous task in healthcare facilities and cloud computing only accelerates work with better performance efficacy. Moreover, cloud computing curbs the overall costs as it eliminates the need for physical infrastructure. These are identified as some potential factors that can promote the global healthcare cloud computing market in the years to come.
The IT revolution and upscaling demand for cloud computing have positively influenced the healthcare sector. The large volume of data generated in the healthcare sector has encouraged the enormous adoption of cloud computing solutions. Moreover, the voluminous data generation has further increased the need for scalability and flexibility in working dynamics. Top-notch healthcare cloud computing players are actively investing in the development of improved and new services that will continue to optimize operations in complex and large industries; such as healthcare. These are other causes that are expected to add momentum to the healthcare cloud computing.
Security risks and the growing concern regarding sensitive data made available on the cloud is identified as restrains on the cloud computing market. Cloud breaches and inefficient backup activities by healthcare organizations are anticipated to pose challenges to the market expansion.
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Market Segmentation
The segment study of the global Healthcare Cloud Computing Market Share is based on deployment, applications, service, and end-user among others.
The application-based segments of the healthcare cloud computing market are Clinical Information System (CIS) and Non -Clinical Information System (NCIS). The CIS segment studies electronic health records (EHR), pharmacy information system (PIS), and computerized physician order entry system (CPOE) among others. The growing demand for non-clinical information system, along with electronic health records solutions, can favor the market surge in the study tenure.
The deployment-based segments of the healthcare cloud computing market are hybrid cloud, private cloud, and public cloud. The public cloud segment is expected to rise at considerable CAGR by 2023. However, increase in cases of cyber data breach and growing awareness about security threats in case of public cloud is driving the adoption of private cloud that is expected to support the healthcare cloud computing market rise through the rapid growth of the private segment.
The service-based segments of the healthcare cloud computing market are innovative forms, such as; Infrastructure-As-A-Service, Software-As-A-Service (SaaS), and Platform-As-A-Service. The software as a service is observed to gain traction due to its large-scale and diversified utility, which can bolster the SaaS healthcare cloud computing segment rise. The platform as a service segment is anticipated to rise at high pace and acquire significant share of the global market. The increasing adoption of infrastructure as a service is likely to improve its segment impetus, thus favor the market
Regional Analysis
The US is expected to garner decent revenue for the North America healthcare cloud computing market in the near future. The presence of a high concentration of marketers in the region and expansion of the healthcare sector are likely to contribute to the regional healthcare cloud computing market. The concentration of developed economies displaying affinity for advanced technologies is observed to add momentum to the market.
In Asia Pacific, the healthcare cloud computing market is likely to thrive due to the fast-paced development of the healthcare sector. India, Australia, and China are some countries in the region with massive patient population and are investing in innovations that can boost efficacy of operations in treating these masses. Thus, the surge in rate of adoption of advanced healthcare cloud computing solutions can prompt APAC market during the forecast term.
Key Players
GE Healthcare, IBM Corporation, Athena Health Inc., Sectra AB, Carestream Corporation, CareCloud Corporation, ClearData Networks Inc., Agfa-Gevaert N.V., Nuance Communications, NextGen Healthcare, Microsoft Corporation, Oracle Corporation, Cerner Corporation, Siemens Healthineers, Dell Inc, and Merge Healthcare Inc. are some major companies in the global healthcare cloud computing market that are listed by MRFR. Innovations by marketers are observed to cast significant impact on the competitive landscape of the global healthcare cloud computing market.
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