The global healthcare cloud computing market is expected to grow by USD 25.54 billion during 2020-2024, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled global healthcare cloud computing market 2020-2024 (Graphic: Business Wire)
Research collaborations have been increasing in recent years, particularly in the field of healthcare. Healthcare establishments and organizations involved in research initiatives require systems with high computational capabilities. Deploying cloud computing in healthcare ecosystems offers various advantages, including cost savings, enhanced flexibility, and system scalability to the organizations. Furthermore, the use of cloud computing also facilitates better collaborative research among various healthcare researchers and other stakeholders. The cloud computing modules designed for the healthcare ecosystem helps healthcare professionals make precise decisions while prescribing appropriate medications to their patients. Thus, growing collaborations among different stakeholders of the healthcare industry will drive the healthcare cloud computing market.
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As per Technavio, the introduction of blockchain in cloud computing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Healthcare Cloud Computing Market: Introduction of Blockchain in Cloud Computing
Rising deployment of cloud computing systems in the healthcare industry have increased data and information theft, resulting in cybersecurity issues. However, the implementation of blockchain in healthcare IT infrastructure will help in achieving greater data security, streamlining claims, managing the billing process, and ensuring integrity within the drug supply chain and health research. Also, blockchain-enabled systems reduce breaches during data exchange and offer greater ownership to patients about their data and records. As a result, with the growing awareness of benefits provided by blockchain technology, vendors in the healthcare industry are collaborating with cloud computing companies to develop blockchain-based healthcare management systems.
“Introduction of edge computing, integrated service offerings for the healthcare industry, and development of hyper-converged infrastructure (HCI) are a few other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Healthcare Cloud Computing Market: Segmentation Analysis
This market research report segments the healthcare cloud computing market by product (SaaS, IaaS, and PaaS) and geography segmentation (North America, APAC, Europe, South America, and MEA).
North America led the healthcare cloud computing market share in 2019, followed by Europe, APAC, South America, and MEA. The North American region is expected to register the highest incremental growth due to the increasing adoption of cloud computing by healthcare institutes and the launch of various cloud computing products.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Source: PR NEWSWIRE