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Study: Healthcare Cloud Market To Reach $89.4B by 2027
A new research report from Chicago-based MarketsandMarkets states that the healthcare cloud market will grow to $89.4 billion globally by the end of 2027.
According to the report, the current market size is $39.4 billion.
The report cites several areas of medical technology as the main drivers behind the expanse of cloud usage in the healthcare field, including electronic health record systems (EHRs), telehealth systems and the increased use of "big data" by healthcare companies for analytics and AI solutions, among others.
The report also states that security concerns and compliance regulations are hampering the move to the cloud within health care to some extent.
The report also broke out the market by region: "North America accounted for the largest share of the healthcare cloud computing market in 2021, followed by Europe and the Asia Pacific," a summary of the report states.
"The large share of North America can be attributed to several factors including favorable government initiatives, and high healthcare expenditure in North America, among other factors. Additionally, many healthcare cloud computing companies are headquartered in the region."
To read the announcement of the research report, go here.
About the Author
Becky Nagel serves as vice president of AI for 1105 Media specializing in developing media, events and training for companies around AI and generative AI technology. She also regularly writes and reports on AI news, and is the founding editor of PureAI.com. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. She has a background in Web technology and B2B enterprise technology journalism.