Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- The global cloud computing market in the healthcare industry is showing a dynamic CAGR of 21.30% from 2012 to 2018. The market's value of US$1.82 bn in 2011 is expected to grow to US$6.79 bn before the end of 2018 at this exponential CAGR. The statistical details are covered in a research report released by Transparency Market Research, titled "Cloud Computing Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018".
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According to the details given in the report, the key driver for the application of cloud computing in the workings of the healthcare industry is the growing pressure on healthcare service providers to deliver highly efficient results with quicker response times, while also maintaining a strict budget. Cloud computing can provide all of that, making its entry into the healthcare industry much easier.
The key players in the global cloud computing market in the healthcare industry are Oracle Corporation, IBM Corporation, Microsoft, Agfa Healthcare, ClearDATA Networks, Merge Healthcare, and CareCloud.The report states that the global cloud computing market in the healthcare industry is extremely fragmented in nature, primarily due to the sheer volume of players present in it. No single competitor holds more than 10.0% of this market. Another reason for the heavy fragmentation of the global cloud computing market in the healthcare industry is the high level of customization required for each healthcare organization, which has created a large number of players that offer unique capabilities. It is added in the report that this level of customized services prevents any standardization to be created in the market.
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Geographically, the report pegs North America as the leading region in the global cloud computing market in the healthcare industry for 2011. It is also currently marked as the fastest growing region in the market till 2018. Europe and Asia Pacific follow North America closely.
It is also noted in the report that an increasing number of companies are working towards reducing investments in creating and maintaining a physical IT infrastructure and moving towards cloud computing for easier management of profiles. The healthcare industry is expected to largely prefer a Platform-as-a-Service cloud computing framework for greater benefits. The report also extensively describes the scope of public and private cloud computing services, along with a spotlight on hybrid services as well.
The global cloud computing market in the healthcare industry is segmented according to the service models in it, among which the PaaS segment is stated to be leading the market. The report explains that its rapid growth rate is owed to its simple application and high rate of deployment. The report also states that PaaS does not require reliance on software or even hardware, as it offers support from them within the service's lifecycle.
Key segments of the Global Cloud Computing Market in Healthcare Industry
By service models
- Infrastructure-as-a-Service (IaaS)
- Platform-as-a-Service (PaaS)
- Software-as-a-Service (SaaS)
- By pricing models
- Spot pricing or subscription model
- Pay-as-you-go model
By end users
- Clinical Information systems (CIS) Market
- Non-clinical Information systems (NCIS) Market
- Claims management
Major geographies analyzed under this research report are:
- North America
- Rest of the World
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Source:Transparency Market Research