Healthcare Cloud Computing Market to Reach US$ 80.5 Billion by 2027 Globally |CAGR: 14.5%| UnivDatos Market Insights

Healthcare Cloud Computing Market to Reach US$ 80.5 Billion by 2027 Globally |CAGR: 14.5%| UnivDatos Market Insights

PR Newswire

NOIDA, India, Jan. 28, 2021

NOIDA, India, Jan. 28, 2021 /PRNewswire/ -- A comprehensive overview of the healthcare cloud computing market is recently added by UnivDatos Market Insights to its humongous database. The healthcare cloud computing market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the healthcare cloud computing market. The healthcare cloud computing market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the healthcare cloud computing market at the global and regional levels. The Global Healthcare Cloud Computing market is expected to grow at a CAGR of 14.5% from 2021-2027 to reach US$ 80.5 billion by 2027.

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Market Overview

Surging digitalization coupled with the advancement in technologies in the healthcare sector is resulting out in a huge amount of data released from the patient's medical records equipment's etc. The released data is in unstructured, semi-structured form. To access the data and records and the ease of operations the healthcare cloud solutions are being adopted across the globe.  Moreover, the benefits of the healthcare cloud are not only the data stored in the cloud platform. But it is being used for workflow optimization, gain efficiencies, lowering costs, and to offer personalized services to the patients. In a survey, it was found that around 83% of the healthcare service providers are using the cloud for their core operation.  

Furthermore, the governments in several countries have mandated the adoption of electronic health records (EHR) and the end-users are more inclined towards e-prescribing systems, telehealth, mobile health technologies for ease. Due to which the market for the healthcare cloud is on the rise.  Moreover, in a survey, it was found that around 55.7% of healthcare service providers adopt cloud solutions due to the benefits of lower cost as compared to the current IT maintenance.

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COVID-19 Impact

The COVID-19 pandemic has reinforced the adoption of cloud technology in the healthcare sector.  The surging preference for virtual visits in the healthcare sector has busted out in the adoption of cloud computing. It is forecasted that the revenue of the healthcare cloud solution providers would get doubles on account of surging virtual visits at a frenetic pace. Moreover, it is expected that the revenue would get double again in 2021. Also, a rise has been witnessed in the adoption of AI, ML, and big data for healthcare service providers for the ease of operational efficiency. Thus, the demand is witnessing an uptick across the globe. 

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The Healthcare Cloud Computing Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Services, the market is primarily bifurcated into

Amongst services, the software as a service segment grabbed the major market share, and it will grow at a CAGR of 13.6% to reach US$ 46.2 billion by the year 2027.

By Deployment, the market is primarily segmented into

Amongst deployment type, private cloud segment accounted for the largest share and are expected to grow at 14.6% CAGR during the forecast period 2021-2027. In 2019, the private cloud segment accounted for a revenue share of almost 38.7%.

By Application, the market is primarily segmented into

In 2019, the non-clinic information system segment dominated the global healthcare cloud computing market with nearly 54.2% of the market share and it is anticipated by 2027, the segment will garner US$ 42.4 billion of the market.

By End-User, the market is primarily fragmented into

Amongst end-users, healthcare providers accounted for the largest share and it is expected to grow at 14.9% CAGR during the forecast period 2021-2027. In 2019, the healthcare providers segment accounted for a revenue share of 68.4%.

Healthcare Cloud Computing Market Geographical Segmentation Includes:

Based on the estimation, the North America region dominated the healthcare cloud computing market with almost US$ 13.6 billion revenue in 2019. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of 17.3% over the forecast period owing to surging investment in cloud platform coupled with the presence of numerous solution provider in countries such as China, Jana, etc.

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The major players targeting the market includes

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the healthcare cloud computing market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

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