Persistence Market Research has released a new report confirming that the global health cloud computing market is all set to break a few records.
In an exclusive with medgadget.com, Persistence Market Research stated:
“The global healthcare cloud computing market was valued at USD 4,216.5 million in 2014 and is expected to grow at a CAGR of 20.1% from 2014 to 2020, to reach an estimated value of USD 12,653.4 million in 2020.”
So What is Healthcare Cloud Computing All About?
Healthcare cloud computing services are responsible in delivering hosted medical services to clients globally. As in most cloud computing services, these services are classified into: infrastructure-as-a-service, software-as-a-service and platform-as-a-service. Also, the cloud platform can be public, private, community or even hybrid in nature. Take a look at the deployment model and you’ll find that hybrid clouds are the fastest and most popular cloud platforms in use. In the services model, software-as-a-service (SaaS) is the largest segment in healthcare cloud computing market.
Medgadget.com also went on to say,
“Globally, the healthcare cloud computing market is witnessing significant growth due to increased government healthcare IT spending and advanced features of cloud computing services. In addition, rising demand for better healthcare facilities, increasing in popularity of wireless and cloud technologies are driving the healthcare cloud computing market.”
The largest market for healthcare cloud computing is North America. The United States and Canada are together the biggest consumers of cloud based services for healthcare and they owe this to the technological advancements in the region. The North American market for health care cloud computing is believed to be around USD 1,857.5 million in 2014. It is expected to grow at a CAGR of 20.7% annually and reach USD 5,757.7 million in 2020.
Who Are the Top Leaders?
If you take a look at the top runners in healthcare cloud computing, you will see Microsoft Corporation and International Business Machines Cooperation controlling a lion’s share in the market. Other key players are Dell Inc., Oracle Corporation, GE Healthcare, Agfa-Gevaert N.V., CareCloud Corporation and Merge Healthcare Incorporated.
Challenges in Costs and Security
These estimated revenue numbers spell great news for the healthcare cloud computer market and we couldn’t agree more. However, the domain is fraught with challenges. For instance, the implementation of clinical information systems is an expensive affair. Furthermore, the lack of security measures in protecting patient information are serious setbacks as well. We believe mitigating the risk in loss of confidential information will go a long way in further strengthening cloud computing’s stronghold in the healthcare market.
Any sensitive data stored needs to be secure. When it comes to healthcare, we are talking about sensitive health information pertaining to individuals and families. There is a lot of information that is bound by emotion and for this reason they definitely need to be secure.