LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global healthcare cloud computing market to grow at a CAGR of over 22% during the forecast period, according to their latest market research report.
The introduction of edge computing is one of the major trends being witnessed in the global healthcare cloud computing market 2018-2022. Edge computing is a method of optimizing cloud computing systems by performing computing applications at the logical end-point of the network instead of cloud or data centers. Cloud computing in the healthcare industry is increasingly employing IoT devices for health monitoring and other applications. Typically, IoT data is collected and transmitted to a cloud or data centers for processing and analysis, which is time-consuming, however, edge computing can help speed up the process of data collection and analysis.
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According to Technavio analysts, one of the key factors contributing to the growth of the global healthcare cloud computing market is the increasing cloud assisted medical collaborations:
Global healthcare cloud computing market: Increasing cloud assisted medical collaborations
Research collaborations are increasing globally, especially in the field of healthcare. Organizations are moving toward conducting collaborative studies to tackle human healthcare issues quickly and effectively. Such research entails analysis of vast data sets for research purposes. Thus, establishments prompting research initiatives require systems with high computational capabilities. Installation of these systems entails huge costs due to infrastructure and hardware equipment requirements. Deploying cloud computing provides cost and infrastructure flexibility for organizations, as IT resources are acquired and used based on demand and requirement. Furthermore, using cloud computing in the healthcare ecosystem has numerous advantages such as cost-savings, enhanced flexibility, and system scalability, which will contribute to the growth of the global market during the forecast period.
According to a senior analyst at Technavio for research on enterprise application, “Introduction of blockchain in cloud computing is another key factor that is boosting the growth of the global market. Increasing cybersecurity issues are leading Several enterprises are implementing blockchain in healthcare IT infrastructure as it can help achieve greater data security, streamline claims, manage billing, and ensure drug supply chain.”
Global healthcare cloud computing market: Segmentation analysis
The global healthcare cloud computing market research report provides market segmentation by product (SaaS in healthcare, IaaS in healthcare, PaaS in healthcare) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 49% share, followed by EMEA and APAC respectively. However, during the forecast period, the region of EMEA is predicted to have the highest incremental growth while the other two regions are expected to witness a decline in their market shares.
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