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.
Becky Nagel is the vice president of Web & Digital Strategy for 1105's Converge360 Group, where she oversees the front-end Web team and deals with all aspects of digital projects at the company, including launching and running the group's popular virtual summit and Coffee talk series . She an experienced tech journalist (20 years), and before her current position, was the editorial director of the group's sites. A few years ago she gave a talk at a leading technical publishers conference about how changes in Web browser technology would impact online advertising for publishers. Follow her on twitter @beckynagel.