Healthcare Cloud Computing Market: Innovations and Future Directions 2024

"The Business Research Company recently released a comprehensive report on the Global Healthcare Cloud Computing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The healthcare cloud computing market size has grown rapidly in recent years. It will grow from $36.27 billion in 2023 to $41.33 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to electronic health records (ehr) adoption, cost reduction initiatives, data security concerns, interoperability requirements, increased demand for storage and processing power.

The healthcare cloud computing market size is expected to see rapid growth in the next few years. It will grow to $74.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to adoption of telehealth services, ai and machine learning integration, remote patient monitoring solutions, edge computing in healthcare, increased focus on data analytics. Major trends in the forecast period include blockchain for healthcare data management, hybrid cloud deployments, personalized medicine platforms, mobile health (mhealth) applications, integration of internet of things (iot) in healthcare systems.

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Market Drivers and Trends:

The rise in the adoption of information technology in the healthcare sector is significantly driving the growth of the healthcare cloud computing market. Information technology has paved the way for more precise healthcare services that help patients attain easy and quick access to various healthcare facilities. The most common examples of health information technology are electronic health records (EHRs), e-prescriptions, and other tech tools that help patients meet health goals such as managing blood sugar levels or quitting smoking. According to the 2021 Accentur*e health and life science experience survey of 1,800 people in the United States, nearly 26% said their access to healthcare has been even better with digital adoption since the onset of the COVID-19 pandemic. Thus, a rise in the adoption of information technology in the healthcare sector is expected to drive the healthcare cloud computing market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

International Business Machines Corporation, Onex Corporation, Athenahealth Inc., Siemens AG, GE Healthcare Company, Cisco Systems Inc., Iron Mountain Inc., Microsoft Corporation, Oracle Corporation, CareCloud Corporation, ClearDATA, Dell Technologies Inc., Agfa-Gevaert N. V, VMware Inc., Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., eClinicalWorks, Cerner Corporation, Salesforce Inc., Google LLC, Hewlett Packard Enterprise Development LP, Fujitsu Limited, NTT DATA Corporation, Citrix Systems Inc., Nutanix Inc., Hitachi Ltd., Pure Storage Inc., Lenovo Group Limited, Huawei Technologies Co. Ltd., Zscaler Inc.

Healthcare Cloud Computing Market 2024 Key Insights:

• The healthcare cloud computing market size is expected to see rapid growth in the next few years. It will grow to $74.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%.
• It Adoption Fueling The Healthcare Cloud Computing Market
• Technological Advancements Reshaping The Healthcare Cloud Computing Market
• Asia-Pacific was the largest region in the healthcare cloud computing market in 2023

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