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Study: Healthcare Cloud Market To Reach $89.4B by 2027 

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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 is vice president of AI for 1105 Media, where she specializes in training internal and external customers on maximizing their business potential via a wide variety of generative AI technologies as well as developing cutting-edge AI content and events. She's the author of "ChatGPT Prompt 101 Guide for Business Uses," regularly leads research studies on generative AI business usage, and serves as the director of AI Boardroom, a new resource for C-level executives looking to excel in the AI era. Prior to her current position she was a technical leader for 1105 Media's Web, advertising and production teams as well as editorial director for a suite of enterprise technology publications, including serving as founding editor of PureAI.com. She has 20 years of enterprise technology journalism experience, and regularly speaks and writes about generative AI, AI, edge computing and other cutting-edge technologies. She can be reached at [email protected].

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