Healthcare Cloud Computing Market

IBM (US), Siemens Healthineers (Germany), and Carestream Health (US) are the leading players in the Healthcare Cloud Computing Market

The global healthcare cloud computing market size is projected to reach USD 51.9 billion by 2024 from USD 23.4 billion in 2019, at a CAGR of 17.2% during the forecast period. The growth of this market is primarily attributed to the increasing adoption of big data analytics, wearable devices, and IoT in healthcare; and the advantages of cloud usage, such as improved storage, flexibility, and scalability of data. However, concerns over data security and privacy, and complex regulations governing cloud data centers are expected to restrain the growth of this market.

North America dominated the global healthcare cloud computing market in 2018. This large share can primarily be attributed to the high adoption of Electronic Health Records (EHRs) among medical professionals, the incentive-driven approach of government healthcare IT programs, and active participation by private sector players in the industry development.

IBM (US), Siemens Healthineers (Germany), and Carestream Health (US) are the leading players in the global healthcare cloud computing industry. Other prominent players operating in the healthcare cloud computing market include Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), NTT Data Corporation (Japan), Fujifilm Holdings Cooperation (Japan), Dell (US), Allscripts Healthcare Solutions (US), athenahealth (US), DXC Technology Company (US), Vepro eHealth Solutions (Germany), Orion Health Group (New Zealand), NextGen Healthcare (US), Sectra AB (Sweden), Hyland Software Inc. (US), and EnSoftek Inc.(US).

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With a reliable brand name, IBM was one of the leading players in the global healthcare cloud computing market for 2018. The company has a strong presence in the commercial and government healthcare markets. The company offers a robust portfolio of products and services in the market. In order to strengthen its portfolio, IBM focuses on enhancing its products & services and investing in research activities to continuously improve its product portfolio. In line with this, the company launched several products and services in the past three years to fulfill the unmet demands of its customers. Furthermore, to maintain its leading position in the market, IBM also focuses on strategies such as acquisitions, collaborations, and partnerships. For instance, in July 2019, IBM completed the acquisition of Red Hat, a provider of open source technology for the enterprise. This acquisition significantly strengthened IBM’s product portfolio of hybrid cloud and digitization services.

Siemens Healthineers is another key player in the global healthcare cloud computing market. The company provides technology solutions to the healthcare, pharmaceutical, and life sciences markets. The company offers medical technologies, software solutions, and clinical consulting services. Siemens Healthineers focuses on R&D activities and develops innovative product lines using artificial intelligence. The company has devised a framework for action and a strategic approach to future development known as Strategy 2025. As a part of this strategy, the company focuses on the adoption of alliances and acquisitions to expand its presence. For instance, in October 2018, Siemens Healthineers acquired the majority stake in ECG Management Consultants, a healthcare advisory firm looking to expand its Enterprise Service Business. Siemens Healthineers also conducts hands-on workshops, application training, webinars, and interactive tutorials for laboratory staff to enhance their system knowledge and capabilities.

Related Reports:

Healthcare Cloud Computing Market by Product (EMR/EHR, PACS, VNA, PHM, Telehealth, RCM, CRM, Fraud Management), Service (SaaS, IaaS), Deployment (private cloud, hybrid cloud), Pricing (Pay as you go), Component (Software) - Global Forecast to 2024

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Report Code
HIT 3561
RI Published ON
11/20/2019
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