Healthcare Cloud Based Analytics Market by Component and Geography - Forecast and Analysis 2022-2026

The healthcare cloud based analytics market share is expected to increase by USD 26.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.11%.

This healthcare cloud based analytics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers healthcare cloud based analytics market segmentation by component (software, services, and hardware) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The healthcare cloud based analytics market report also offers information on several market vendors, including 314e Corp., Alphabet Inc., Amazon.com Inc., Amitech Solutions Inc., Cisco Systems Inc., CitiusTech Inc., Health Catalyst Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., IQVIA Holdings Inc., Koninklijke Philips NV, McKesson Corp., Medeanalytics Inc., Microsoft Corp, Oracle Corp., SAP SE, Snowflake Inc., UnitedHealth Group, UnitedHealth Group Inc., and Verisk Analytics Inc. among others.

What will the Healthcare Cloud Based Analytics Market Size be During the Forecast Period?

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Healthcare Cloud Based Analytics Market: Key Drivers, Trends, and Challenges

The increasing cloud-assisted medical collaborations is notably driving the healthcare cloud based analytics market growth, although factors such as shortage of cloud professionals in healthcare industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the healthcare cloud based analytics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Healthcare Cloud Based Analytics Market Driver

One of the key factors driving growth in the healthcare cloud based analytics market is the increasing cloud-assisted medical collaborations. Research collaborations are increasing globally, especially in the field of healthcare. Organizations are moving toward conducting collaborative studies to tackle human healthcare issues quickly and effectively. These research studies entail the analysis of vast datasets for research purposes. Thus, establishments promoting research initiatives require systems with high computational capabilities. Installation of these systems involves huge costs due to infrastructure and hardware equipment requirements. Deploying cloud computing provides cost and infrastructure flexibility to organizations, as IT resources are acquired and used based on demand and requirement. Cloud computing also facilitates better collaborative research among various healthcare researchers and other stakeholders. Therefore, the adoption of the cloud enables better collaborations among various stakeholders in the healthcare industry. The rising number of such collaborations will drive the market.

Key Healthcare Cloud Based Analytics Market Trend

The introduction of edge computing is a healthcare cloud based analytics market trend that is expected to have a positive impact in the coming years. Edge computing is a method of optimizing cloud computing systems by performing computing applications at the logical end-point of the network instead of cloud or data centers. Cloud computing in the healthcare industry is increasingly deploying IoT devices for health monitoring and other applications. Typically, IoT data is collected and transmitted to a cloud or data center for processing and analysis, which is time-consuming. Hence, edge computing can help speed up data collection and analysis, thereby improving the overall process speed. Edge computing takes advantage of the proximity between various IoT devices and their relationships with each other. Vendors such as BioLert provide software that uses edge computing for the monitoring of epileptic patients. Edge computing also creates a record of patients' vitals and events, which can be used by medical professionals to determine a better treatment regime for patients. Owing to these factors, the global healthcare cloud based analytics market is expected to grow.

Key Healthcare Cloud Based Analytics Market Challenge

The shortage of cloud professionals in the healthcare industry will be a major challenge for the healthcare cloud based analytics market during the forecast period. The deployment of cloud technologies in various industries has resulted in high demand for trained cloud computing professionals. Despite the high demand, there is a shortage of qualified and trained cloud computing professionals in the industry. Cloud computing is being increasingly adopted across industries and will require a high number of trained professionals. With the increasing demand for cloud-supported networks in the healthcare industry, the requirement for trained professionals, who are trained in cloud deployment and are familiar with healthcare practices and processes, will be high. Healthcare organizations employing cloud computing will require an ever-increasing number of trained specialists for application development, data security, and management. Thus, the cost of hiring these specialists, coupled with a shortage of such professionals, will hamper the growth of the market.

This healthcare cloud based analytics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global healthcare cloud based analytics market as a part of the global healthcare technology market, which, in turn, is a part of the global healthcare market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the healthcare cloud based analytics market during the forecast period.

Who are the Major Healthcare Cloud Based Analytics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• 314e Corp.
• Alphabet Inc.
• Amazon.com Inc.
• Amitech Solutions Inc.
• Cisco Systems Inc.
• CitiusTech Inc.
• Health Catalyst Inc.
• Hewlett Packard Enterprise Co.
• International Business Machines Corp.
• IQVIA Holdings Inc.
• Koninklijke Philips NV
• McKesson Corp.
• Medeanalytics Inc.
• Microsoft Corp
• Oracle Corp.
• SAP SE
• Snowflake Inc.
• UnitedHealth Group
• UnitedHealth Group Inc.
• Verisk Analytics Inc.

 

This statistical study of the healthcare cloud based analytics market encompasses successful business strategies deployed by the key vendors. The healthcare cloud based analytics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• cisco.com - The company offers healthcare cloud based analytic solutions that securely connect remote staff to sensitive data, enable reliable telehealth visits, and ensure collaboration is prioritized on the network with one solution, which can be easily managed from anywhere.

• cisco.com - Through the Americas segment, the company offers its products and services in the countries such as the US, Canada, Mexico, and Brazil.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The healthcare cloud based analytics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

Healthcare Cloud Based Analytics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the healthcare cloud based analytics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Healthcare Cloud Based Analytics Market?

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38% of the market’s growth will originate from North America during the forecast period. The US is the key market for healthcare cloud based analytics in North America. Market growth in this region will be faster than the growth of the market in the European regions.

Countries such as the US and Canada, along with Mexico, are the major adopters of healthcare cloud-based analytics. This will facilitate the healthcare cloud based analytics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic propelled the growth of the market in North America in 2021. Lockdown norms across various industries augmented the need for data storage for remote planning, tracking, and monitoring of healthcare data status. For instance, in September 2020, Accenture announced an investment of $3 billion in forming the Accenture Cloud First to assist clients across different industries to become cloud-first businesses and accelerate digital transformation. Such solutions will enable maintaining a continuous relationship with patients and support the planning and scheduling of doctors based on instances of care. 

What are the Revenue-generating Component Segments in the Healthcare Cloud Based Analytics Market?

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The healthcare cloud based analytics market share growth by the software segment will be significant during the forecast period. An increasing number of home healthcare users will promote the use of SaaS-based technologies in applications such as telemedicine. Vendors such as HealthSaaS provide cloud services for home-health agencies by combining clinical software with monitoring devices for in-home chronic patient care. IaaS

This report provides an accurate prediction of the contribution of all the segments to the growth of the healthcare cloud based analytics market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Healthcare Cloud Based Analytics Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 21.11%
Market growth 2022-2026	$26.93 billion
Market structure	Fragmented
YoY growth (%)	18.21
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 38%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	314e Corp., Alphabet Inc., Amazon.com Inc., Amitech Solutions Inc., Cisco Systems Inc., CitiusTech Inc., Health Catalyst Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., IQVIA Holdings Inc., Koninklijke Philips NV, McKesson Corp., Medeanalytics Inc., Microsoft Corp, Oracle Corp., SAP SE, Snowflake Inc., UnitedHealth Group, UnitedHealth Group Inc., and Verisk Analytics Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Healthcare Cloud Based Analytics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive healthcare cloud based analytics market growth during the next five years
• Precise estimation of the healthcare cloud based analytics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the healthcare cloud based analytics industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of healthcare cloud based analytics market vendors

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