How Has the Healthcare Cloud Computing Market Evolved Historically and What is its Current Size?
The healthcare cloud computing market has seen considerable growth due to a variety of factors.
• The market size of healthcare cloud computing has seen fast-paced growth in the recent past. The market value is predicted to rise from $40.43 billion in 2024 to $45.59 billion in 2025, with a compound annual growth rate (CAGR) of 12.7%.
Factors contributing to this significant growth during the historical period include the utilization of electronic health records (EHR), drives for cost saving, concerns regarding data security, need for interoperability, and a surge in demand for storage and processing capabilities.
What is the Forecasted Market Size and CAGR for the Healthcare Cloud ComputingMarket?
The healthcare cloud computing market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations predict a significant expansion in the healthcare cloud computing market in the coming years. The market is projected to inflate to $89.11 billion by 2029, with an annual compound development ratio (CAGR) of 18.2%.
Factors such as the rollout of telehealth services, AI and machine learning assimilation, remote healthcare monitoring solutions, implementation of edge computing in healthcare, and an increasing emphasis on data analytics contribute to this predicted growth. As we move into the forecasted period, we expect to see trends such as the adoption of blockchain for managing healthcare data, deployment of hybrid cloud, individualized medicine platforms, mobile health (mHealth) applications, and the assimilation of the internet of things (IoT) into healthcare systems.
What Key Factors and Trends are Driving the Growth of the Healthcare Cloud Computing Market?
The upsurge in the use of information technology within the healthcare sector is a substantial factor propelling the healthcare cloud computing market's expansion. It has allowed for more accurate healthcare services, enabling patients to more easily and rapidly gain access to a range of healthcare amenities. The most notable applications of health information technology include electronic health records (EHRs), electronic prescribing, and various technological instruments that aid patients in achieving health objectives like regulating blood glucose levels or giving up smoking. For example, Business Standard, a US news outlet, predicted in 2022 that global IT spending would hit $5 trillion by 2024, nearly 8% higher than in 2023. As a result, the increased uptake of information technology within the healthcare sector is anticipated to fuel the surge of the healthcare cloud computing market.
What are the Market Segments in the Healthcare Cloud Computing Market?
The healthcare cloud computing market covered in this report is segmented –
1) By Service Model: Software-As-A-Service (SaaS), Infrastructure-As-A-Service (IaaS), Platform-As-A-Service (PaaS)
2) By Pricing Model: Pay-As-you-go, Spot Pricing
3) By Deployment Model: Private Cloud, Hybrid Cloud, Public Cloud
4) By End User: Healthcare Providers, Healthcare Payers
5) By Application: Clinical Information System, Non-Clinical Information System
Subsegments:
1) By Software-as-a-Service (SaaS) : Clinical Information Systems (CIS), Non-clinical Information Systems (NCIS), Electronic Health Records (EHR), Pharmacy Information Systems, Telehealth Solutions, Billing and Claims Management, Practice Management
2) By Infrastructure-as-a-Service (IaaS): Data Storage and Backup, Computing Power (Virtual Machines), Network Services, Disaster Recovery
3) By Platform-as-a-Service (PaaS) : Application Development Platforms, Data Integration Platforms, Interoperability Platforms, Healthcare Analytics Platforms
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What Trends are Shaping the Healthcare Cloud Computing Market?
The rise of technological innovations in healthcare systems is an emerging trend in the healthcare cloud computing industry. Major players in this sector are scaling up their game by developing fresh technological answers to fortify their market hold. Taking an example, AWS, an American cloud technology firm debuted a program called AWS Industry Quest Healthcare in August 2023, that aims to boost the cloud computing capabilities of healthcare specialists specifically. This approach is designed to tackle the substantial skills deficit in the healthcare field, where numerous entities are having trouble finding properly trained staff in cloud technologies.
Who Are the Key Players in the Healthcare Cloud Computing Market?
Major companies operating in the healthcare cloud computing market include:
• International Business Machines Corporation
• Siemens AG
• GE Healthcare Company
• Cisco Systems Inc.
• Microsoft Corporation
• Oracle Corporation
• CareCloud Corporation
• ClearDATA
• Dell Technologies Inc.
• Agfa-Gevaert N. V
• VMware Inc.
• Allscripts Healthcare Solutions Inc.
• Amazon Web Services Inc.
• eClinicalWorks
• Salesforce Inc.
• Google LLC
• Hewlett Packard Enterprise Development LP
• Fujitsu Limited
• NTT DATA Corporation
• Citrix Systems Inc.
• Nutanix Inc.
• Hitachi Ltd.
• Pure Storage Inc.
• Lenovo Group Limited
• Huawei Technologies Co. Ltd.
• Zscaler Inc.
What are the Regional Insights into the Healthcare Cloud Computing Market?
Asia-Pacific was the largest region in the healthcare cloud computing market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
