Healthcare Cloud Computing Market Will Touch US$12,653.4 Million in 2020

(Newswire.net — July 31, 2017) New York City, New York — The global healthcare cloud computing market was valued at USD 4,508.9 million in 2014 and is expected to grow at a CAGR of 20.1% through 2014-2020, to reach the value of USD 12,653.4 million by 2020.

Healthcare cloud computing denotes to a process which involves delivering hosted medical services to clients through cloud using internet. These services can be classified into majorly three types: platform-as-a-service, software-as-a-service, and infrastructure-as-a-service. A cloud can be public, private, hybrid or community network in nature.

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The healthcare cloud computing market is witnessing significant growth globally. Increased IT sector in government healthcare facilitates implementation of cloud computing services. Additionally, rising demand for better healthcare facilities, increasing advances and popularity of wireless and cloud technologies are lubricating the healthcare cloud computing market. However, lack of implementation of CMS for clinical data management systems and lack of security for electronic patient history restrict the growth of the global market for healthcare cloud computing market. In addition, domain compatibility and interoperability issues are negatively affecting the growth of Cloud computing in the healthcare market. The global healthcare cloud computing market is projected at USD 4,216.5 million in 2014 and expected to reach USD 12,653.4 million in 2020, and is to continue growing at a CAGR of 20.1%.

North America holds the largest market segment of the global healthcare cloud computing market due to technological advancements in the region. North American market for healthcare cloud computing gained a leading position and is projected to grow at USD 1,857.5 million in 2014 and is expected to reach USD 5,757.7 million in 2020, and at a CAGR of 20.7%. The fastest growing segment belongs to hybrid clouds, whereas in terms of service, SaaS ( Software as a Service) is the largest segment of the healthcare cloud computing market.

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One emerging trend that has been observed in the global healthcare cloud computing market includes the increasing use of mobile applications to deliver healthcare services.

Microsoft Corporation and International Business Machines Corporation are some of the leading players in the global market for healthcare cloud computing market. Some of the other major players are Agfa-Gevaert N.V., CareCloud Corporation, Dell Inc, ORACLE CORPORATION, GE Healthcare and Merge Healthcare Incorporated.