Healthcare Cloud Infrastructure Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What key factors are powering the surge in the healthcare cloud infrastructure market right now?
There has been a swift expansion in the size of the healthcare cloud infrastructure market in the past few years. The market, which is expected to be valued at $85.23 billion in 2024, is predicted to increase to $100.45 billion in 2025. This signifies a compound annual growth rate (CAGR) of 17.9%. The historic growth can be linked to factors such as the demand for data storage, cost efficiency, scalability, remote access, and interoperability.
How fast Is the healthcare cloud infrastructure market expected to grow, and what’s its future value?
In the coming years, the healthcare cloud infrastructure market is predicted to experience a substantial increase, with a projected size of $205.21 billion by 2029, indicating a compound annual growth rate (CAGR) of 19.6%. This robust growth during the forecast period is largely due to factors such as the rise of telemedicine, advancements in genomic and precision medicine, the necessity of data security and compliance, readiness for pandemics, and incorporation of blockchain technology. The anticipated trends within this period encompass the incorporation of hybrid cloud, implementation of edge computing in healthcare, provision of security and compliance as a service, application of artificial intelligence and machine learning, utilization of data lakes and analytics, and the advent of cloud-native applications.
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What are the leading drivers of growth in the healthcare cloud infrastructure market?
The advancement of the healthcare cloud infrastructure market is likely to be driven by increased funding for the utilization of hospital cloud computing technologies in healthcare establishments. These technologies are employed to establish remote servers, accessible online for the organization, storage, and processing of patient information. To cut expenses and improve operations, hospitals are adopting advanced technologies such as cloud computing. Consequently, this accelerates the demand for cloud infrastructure and the necessary components for its installation. For example, as per Healthcare IT News, an American B2B media group focusing exclusively on healthcare and technology markets, the Delhi government in India assigned a project worth $18.9 million (Rs 13.9 billion) to build a cloud-based hospital information management system for public hospitals in Delhi. As a result, the surge in funding for the execution of hospital cloud computing technologies in medical facilities is fuelling the demand for the healthcare cloud infrastructure market.
What are the key segments defining the healthcare cloud infrastructure market?
The healthcare cloud infrastructure market covered in this report is segmented –
1) By Component: Hardware, Services
2) By Pricing Model: Pay-As-You-Go, Spot Pricing
3) By Deployment Model: Private Cloud, Hybrid Cloud, Public Cloud
4) By End-User: Healthcare Providers, Healthcare Payers
Subsegments:
1) By Hardware: Servers, Storage Devices, Networking Equipment, Security Appliances
2) By Services: Cloud Storage Services, Cloud Computing Services, Cloud Security Services, Consulting And Integration Services
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Who are the key players steering the development of the healthcare cloud infrastructure market?
Major companies operating in the healthcare cloud infrastructure market include Amazon.com Inc., ClearDATA Networks Inc., CloudMine Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation(IBM), Kinvey Inc., Koninklijke Philips NV, Medable Inc., MphRx Inc., NTT Data Communications Systems Corporation., Oracle Corporation, Salesforce Inc., Siemens AG, Allscripts Healthcare Solutions, Athenahealth, Box Cloud Storage Co., CareTech Solutions, Cerner Corporation, CoreSite Realty Corporation, Computer Programs and Systems Inc., Dell Inc., eClinicalWorks, Epic Systems Corporation, GE Healthcare, Google Cloud Healthcare, Greenway Health Co., Infor Healthcare, InterSystems, Iron Mountain Data Centers, Kronos Incorporated, McKesson Corporation, Microsoft Azure, NetApp Co., NextGen Healthcare
What emerging trends are influencing the growth of the healthcare cloud infrastructure market?
The rise of technological innovation is a major trend emerging in the healthcare cloud infrastructure market. To boost workflow productivity and cut expenses, prominent market players are focusing on incorporating cutting-edge technology like AI (artificial intelligence) and text analytics. For instance, in March 2022, the US-based software firm, Microsoft Corporation, which provides cloud infrastructure, enhanced its Microsoft Cloud for Healthcare using AI and text analytics. This allowed for comprehensive data visibility, decreased the administrative load for providers, enhanced efficiency for primary care teams, and encouraged workflow automation. As a result, it improved the quality of care, alleviated clinician fatigue, gleaned insights from unstructured medical data, and facilitated high-quality care more speedily and cost-effectively.
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Which regions are most influential in expanding the healthcare cloud infrastructure market?
North America was the largest region in the healthcare cloud computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cloud infrastructure market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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