Healthcare Cloud Computing Market worth $64.7 billion by 2025

This study involved the four major activities in estimating the size of the healthcare cloud computing market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market.

(EMAILWIRE.COM, August 24, 2021 ) The global Healthcare Cloud Computing Market is expected to reach USD 64.7 billion by 2025 from USD 28.1 billion in 2020, at a CAGR of 18.1%.

Growth in the healthcare cloud computing market can be attributed to factors such as technological upgradation in healthcare industry, increasing focus on healthcare digitization and increasing deployment of cloud-based HCIT solutions by healthcare providers to improve the care process.

Increasing demand for clinical and non-clinical information systems to drive the market growth

On the basis of product, the healthcare cloud computing market is broadly segmented into healthcare provider solutions and healthcare payer solutions. The healthcare provider solutions segment that comprises clinical information systems (CIS) and nonclinical information systems (NCIS) is expected to grow at the highest rate during the forecast period. The high growth rate of this segment can be attributed to the surge in demand for cloud-based CIS and NCIS solutions owing to its benefits, such as on-demand storage, smooth integration of applications, effective migration strategies, compliance, data control, and security.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=347

The private cloud deployment model to hold largest market share in 2020

On the basis of deployment model, the healthcare cloud computing market is segmented into the public cloud, private cloud, and hybrid cloud. The private cloud deployment model is expected to hold the largest market share in 2020. The on-premise private cloud offers high-security options and provides control over the network. The private cloud storage works well for larger organizations that have IT staff and security expertise. Additionally, on-premise private cloud allows organizations to deploy their own applications and adhere to any compliance issues, thus, leading to increased adoption in the coming years.

Reliance of healthcare IT industry on service providers to boost the segment growth

On the basis of component, the healthcare cloud computing market is segmented into software and services. The services segment is expected to grow at the highest rate during the forecast period. The high growth rate of this segment can be attributed to the recurring nature of services such as training and education, installation, software upgrades, consulting, and maintenance. Introduction of complex software and the need to ensure the integration and interoperability of software will further upsurge the demand for various services.

Pay-as-you-go pricing model accounted for the largest market share in 2019

On the basis of pricing model, the global healthcare cloud computing market is segmented into pay-as-you-go and spot pricing model. The pay-as-you-go (PAYG) model commanded the largest share of the market in 2019. The large share is attributed to the fact that the pay-as-you-go model also known as the utility-based economic model, allows healthcare providers to leverage the latest software solutions while keeping operating costs to a minimum.

SaaS service model is expected to be the largest contributor to the healthcare cloud computing market

On the basis of service model, the market is segmented into software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS). The SaaS model accounted for the largest share of the market in 2019 owing to its several advantages over on-premise solutions, such as security, lower total cost of ownership, faster deployment time, and limited up-front capital expenses. The demand for healthcare cloud computing among healthcare providers is primarily driven by its multi-tenant service that supports unlimited users and provides access to users anytime and anywhere. As this service is hosted by a vendor or a service provider, it reduces maintenance costs and increases the use of resources.

Asia Pacific to emerge as a potential market for healthcare cloud computing solutions

The global healthcare cloud computing market has been categorized on the basis of four major regional segments—North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to grow at the highest CAGR during the forecast period. The changing demographics in highly populous countries such as China and India, large volumes of patient data generated as a result of the growing disease burden in the region and various government initiatives focusing on healthcare digitization are driving the growth of the healthcare cloud computing market in the Asia Pacific. In addition, the current outbreak of COVID-19 in the region has resulted in the increased patient pool, leading to subsequent increase in telehealth and virtual care delivery options. Increasing investments for modernization of the country’s healthcare infrastructure is thus, expected to fuel the growth of the healthcare cloud computing market in the APAC region.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=347

Market Key Players

IBM (US), athenahealth (US), Siemens Healthineers (Germany), Koninklijke Philips NV (Netherlands), Allscripts Healthcare Solutions (US), Fujifilm Holdings (Japan), GE Healthcare (US), are some of the leading players of the healthcare cloud computing market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com