Healthcare Cloud Computing Market likely to reach US $12,653.4 million by 2020

As per a latest market report “Global Market Study on Healthcare Cloud Computing: Hybrid Clouds to Witness Highest Growth by 2020” published by Persistence Market Research, the value of global healthcare cloud computing was at USD 4,216.5 million in 2014 and is likely to grow at a CAGR of 20.1% from 2014 to 2020 and reach an estimated value of USD 12,653 million by 2020.

Healthcare Cloud Computing has been defined as a process which deals with delivering hosted medical services to the clients. There are three types into which these services have been classified: platform-as-a-service, infrastructure-as-a-service and software-as-a-service. A cloud can be hybrid or community, private and public in nature.

The healthcare computing market globally is witnessing quite significant growth because of increased government healthcare IT spending as well as advanced features of cloud computing services. In fact, increasing demand for better healthcare facilities, rise in popularity of wireless as well as cloud technologies are gradually driving the healthcare cloud computing market. Also issues of interoperability impact the growth of the healthcare cloud computing market negatively. Globally the healthcare cloud computing market is estimated at USD 4216.5 million in 2014 with the expectation to reach USD 12, 653.4 million in 2020, growing at a CAGR of 20.1%.

North America has been considered the largest market for the global healthcare cloud computing market. This more because of the technological advancements in the region. The healthcare cloud computing in the North American market is estimated at USD 1,857.5 million in 2014 and it is likely to reach USD 5,757.7 million in 2020, gradually growing at a CAGR of 20.7%. Hybrid clouds are said to be the fastest growing segment in terms of deployment model. However, in terms of service model, SaaS-Software as a service is said to be the largest segment of healthcare cloud computing market.

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