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According to the latest report by IMARC Group, titled "Healthcare Cloud Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global healthcare cloud computing market reached a value of US$ 33.4 Billion in 2021. Cloud computing facilitates on-demand access to several resources that are stored at a data center managed by a cloud service provider. Its utilization in the healthcare industry involves the processing and managing of healthcare-related data over the remote server. It assists in securely storing digital data over the internet while enabling efficiency, reachability, scalability and collaboration in a cost-efficient manner across the industry. Additionally, it offers ample storage space and improved accessibility of records and information for healthcare professionals. The demand for healthcare cloud computing is rising due to the penetration of high-speed internet connectivity and the rising adoption of smartphones.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Healthcare Cloud Computing Market Trends:
The global market is primarily driven by significant growth in the healthcare industry. Rapid digitization across the globe has encouraged leading players to heavily invest in the deployment of cloud computing. Along with this, continual technological advancements and the integration of artificial intelligence (AI) and blockchain technology with healthcare cloud computing are creating a positive market outlook. Furthermore, the rapid outbreak of coronavirus disease (COVID-19) that has led to the increasing adoption of the work-from-home model has favorably impacted the market demand. In line with this, the widespread utilization of cloud computing in order to assist healthcare professionals in detecting and monitoring patients across multiple countries has positively influenced the market. Other factors, including continual improvements in the information technology (IT) sector, the increasing need for providing medical facilities across the rural and geographically extended locations, and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 80.2 Billion by 2027, exhibiting a CAGR of 15.5% during 2022-2027.
Market Summary:
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