Cloud Computing Market In Healthcare Industry - Growth Trend and Future Outlook 2018

Cloud Computing Market In Healthcare Industry - Global Industry Analysis, Size, Share, Trends and Forecast upto 2018 The global cloud computing market in the healthcare industry is exhibiting a high CAGR of 21.30% within a forecast period of 2012 to 2018. The market was valued at US$1.82 bn in 2011. Assuming that growth occurs consistently, this market will reach US$6.79 bn by 2018, as stated in a research report released by Transparency Market Research.

The report is titled, “Cloud Computing Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018”.

The rapid pace of expansion in this market can be attributed to the rising need for healthcare organizations (HCOs) to provide more flexible and faster healthcare services to patients, to manage as well as fully optimize their IT systems, to comply with evolving regulatory norms, and ensure the security of confidential patient information.

The emergence of cloud computing in the healthcare industry is designed to increase cost efficiency and productivity among HCOs and the growing digitalization within the sector has considerably supported the market.

“The high level of customization required by various healthcare organizations has resulted in the emergence of a large number of market players with unique expertise,” a TMR analyst points out. This level of customized services prevents any form of standardization across the market.

Concerns About Data Leakage is a Major Challenge for Market Players Rapid transformations in the healthcare IT sector, coupled with the growing demand for security of access and data integrity have supported the growth of cloud computing in the healthcare industry. “An increasing number of companies are reducing investments in the creation and maintenance of a physical IT infrastructure and are shifting towards cloud computing for easier management of profiles,” states TMR. Browse Full Research Report on Cloud Computing Market In Healthcare Industry: http://www.transparencymarketresearch.com/healthcare-cloudcomputing.html However, data relocation from established systems is a major hiccup in the market’s growth during the forecast horizon. Data integration and consistency is also another challenge faced by the market players. The growing concerns pertaining to data leakage have made a number of healthcare providers apprehensive about the adoption of the cloud computing technology.

The market players are focusing on the introduction of wireless technologies in cloud computing solutions to allow remote access of data on a real-time basis. The increasing usage of ACOS for data sharing through mobile devices has created ample opportunities for the growth of the market players.

PaaS to be Largely Preferred by the Healthcare Industry Among the major service models, the Platform-as-a-Service (PaaS) model is expected to register the highest demand. “Simple application and high rate of deployment are the primary factors driving the demand for the PaaS model,” states TMR. The PaaS model does not rely on hardware and software and offers support within the service’s lifecycle.

Though the market was dominated by the IaaS model in 2011, PaaS is anticipated to generate more revenue in the years to come.

The competitive landscape of the global cloud computing market in the healthcare industry is crowded by the presence of a large number of players. The presence of a large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., and Oracle Corp.

The information in this review is based on the statistical findings of a report published by Transparency Market Research, titled, “Cloud Computing Market In Healthcare Industry - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018.”

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