Global Healthcare Cloud Computing Market 2017-2021
Overview of the global healthcare cloud computing market
According to the Technavio’s analyst, the global healthcare cloud computing market is anticipated to grow rapidly and will post a CAGR of more than 21% during the forecast period. The increased adoption of healthcare informatics will drive the growth prospects for the global healthcare cloud computing market until the end of 2021. With the growing adoption of healthcare informatics, the healthcare information system service providers are increasingly implementing cloud-based software as it involves less investment and minimal support requirements in terms of technology. Some of the major factors responsible for the growing preference for cloud-based applications is its high-volume storage capacity that can be accessed from any region and enable clinicians to access medical records of their patients on mobile devices. Furthermore, it also enables hospitals and clinics to store medical images that are produced in huge volumes and provide instant accessibility and sharing options among personnel. According to the industry research report, the most popular form of cloud-based services to store healthcare data is the software as a service based (SaaS) applications.
The reformation of healthcare business process outsourcing (BPO) services by business process as a service (BPaaS) will drive the growth prospects for the global healthcare cloud computing market during the forecasted period. Some of the major benefits of cloud-based BPOs is its ability to help healthcare organizations to reduce costs, develop global delivery models, provide secure data access, provide reliability, scalability, and agility.
Competitive landscape and key vendors
The global healthcare cloud computing market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly investing in the development of specific and customized cloud-based solutions to expand their footprint in the global marketplace. Also, vendors are increasingly focusing on the improvement of building capabilities and quality of products as there is less service differentiation.
Key vendors in this market are -
Other prominent vendors in the market include Allscripts, AppNeta, athenahealth, Cerner, Cisco, Dell, GNAX Health, MEDITECH, Napier Healthcare, NextGen Healthcare, and SAP.
Segmentation by services and analysis of the healthcare cloud computing market
- Software as a service in healthcare
- Infrastructure as a service in healthcare
- Platform as a service in healthcare
The software as a service in healthcare (SaaS) in the healthcare segment is one of the fastest growing market segment and will continue to grow for the next four years. Some of the major factors responsible for the market segment’s growth is its ability to reduce the high upfront cost of software licensing and the reduction in time taken to implement it in comparison to on-premises software solutions.
Segmentation by geography and analysis of the healthcare cloud computing market
In terms of geography, the Americas accounted for the majority of the market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the market’s growth in the region includes the increased number of IT investments in the healthcare industry and the implementation of mandatory regulations for maintaining electronic data for patients.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global healthcare cloud computing market?
- What are the key market trends impacting the growth of the global healthcare cloud computing market?
- What are the challenges to market growth?
- Who are the key vendors in the global healthcare cloud computing market?
- What are the market opportunities and threats faced by the vendors in the global healthcare cloud computing market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global healthcare cloud computing market?
Technavio also offers customization on reports based on specific client requirement.
- Global Cloud-Based Information Governance Market 2016-2020
- Cloud-Based BPO Market in APAC 2016-2020
- Global Cloud Infrastructure Testing Market 2016-2020
- Global Healthcare IT Market 2016-2020
Despite rising concerns over data security, accessibility, and data privacy, the increasing need for remote patient monitoring and the need for better storage at a reduced cost will boost the need for cloud computing services from medical institutions. The upcoming industry research report from Technavio on healthcare cloud computing for the forecast period of 2017 to 2021 will help clients develop effective growth strategies. Market research experts from Technavio analyze factors that will play a considerable role in the overall growth of the cloud computing sector and provide detailed insights into the market landscape of various products and services. Analysts also identify major factors that will drive and challenge the growth of vendors in both the global and regional markets. Additionally, Technavio’s reports also provide detailed information on all the major vendors including Amazon Web Services, IBM, Oracle, Canovate, Emerson Network Power, Hewlett Packard Enterprise, Huawei, Instant Data Centers, Rittal, and Schneider Electric, who have established a significant presence in the global ICT industry.
To meet the client’s specific requirements, this upcoming market research report on healthcare cloud computing also takes into account the growth of similar markets such as healthcare IT and storage as a service, which are expected to grow at a CAGR of about 7% and almost 30%, respectively by 2020. Analysts predict that despite the need for high initial investment, the increasing adoption of IT in healthcare that will result in the need for procuring storage devices to save huge amounts of data. This in turn, will spur the adoption of cloud computing by healthcare institutions since cloud services aid in significantly reducing organizations’ IT expenditure. To help businesses identify new growth opportunities, Technavio also offers customized reports that provide detailed information on various parameters including the shift in customer preferences and the overall market performance.
The upcoming report for healthcare cloud computing also identifies the major factors driving growth, the emerging trends, as well as the eminent challenges currently experienced by the cloud computing sector. To offer a realistic picture of the future direction of the hardware and ICT industry, the market study also offers insights into the changing supplier landscape and the products and services offered by vendors in the market and their presence across different geographical regions.