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The global healthcare cloud infrastructure market is projected to see tremendous growth in the years to come. The market size has witnessed significant expansion in recent years, ballooning from $71.66 billion in 2023 to $84.73 billion in 2024. This boom, at a compound annual growth rate CAGR of 18.2% is fueled by increasing data storage demands, cost efficiency, scalability, remote access, and the need for interoperability.
What is the projected market size and growth rate of the global healthcare cloud infrastructure market?
The healthcare cloud infrastructure market shows promising potential in future years, anticipated to reach $169.06 billion in 2028 at a compound annual growth rate CAGR of 18.8%. This rise during the forecast period is due to a host of factors, including the fast-paced growth of telemedicine, advancements in genomic and precision medicine, the need for compliance and data security standards, advancements in pandemic preparedness, and the integration of blockchain technology.
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The market's future growth is also marked by several significant trends including the adoption of hybrid cloud, edge computing in healthcare, the rise of security and compliance as a service, the integration of artificial intelligence and machine learning, and the use of data lakes and analytics in crafting cloud-native applications. Market growth is also propelled by the increase in funding for hospital cloud computing technologies in healthcare facilities.
Who are the key players leading the growth of global healthcare cloud infrastructure market?
Major players in the healthcare cloud infrastructure market include Amazon.com Inc., ClearDATA Networks Inc., CloudMine Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation IBM, and Koninklijke Philips NV, among others. These companies and others are driving growth by deploying remote servers online to manage, store, and process patient data for health facilities. This move towards digital transformation in the healthcare sector means reduced costs, enhanced operations, and increased demand for cloud infrastructure and its deployment components. For instance, as reported by Healthcare IT News, the Government of Delhi, India, recently assigned an $18.9 million project to establish a cloud-based hospital information management system for public hospitals in Delhi.
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What are the emerging trends defining the landscape of the healthcare cloud infrastructure market?
Technological advancement is a significant trend in the healthcare cloud infrastructure market. Market leaders are integrating cutting-edge technologies like AI artificial intelligence and text analytics to increase workflow efficiency and reduce costs. In March 2022, Microsoft Corporation updated its Microsoft Cloud for Healthcare with AI and text analytics, aiming to provide complete data insight, decrease the burden on healthcare providers, increase efficiency for frontline care teams, and promote workflow automation.
How is the healthcare cloud infrastructure market segmented?
Four key segments comprise the healthcare cloud infrastructure market.
1 By Component: Hardware, Services.
2 By Pricing Model: Pay-As-You-Go, Spot Pricing.
3 By Deployment Model: Private Cloud, Hybrid Cloud, Public Cloud.
4 By End-User: Healthcare Providers, Healthcare Payers.
What are the regional insights on the global healthcare cloud infrastructure market growth?
In 2023, North America led in the healthcare cloud computing market. Asia-Pacific, however, is poised to be the fastest-growing region in subsequent years. Covered regions in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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