Enjoy complimentary customisation on priority with our Enterprise License!
The healthcare cloud based analytics market share is expected to increase by USD 26.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.11%.
This healthcare cloud based analytics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers healthcare cloud based analytics market segmentation by component (software, services, and hardware) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The healthcare cloud based analytics market report also offers information on several market vendors, including 314e Corp., Alphabet Inc., Amazon.com Inc., Amitech Solutions Inc., Cisco Systems Inc., CitiusTech Inc., Health Catalyst Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., IQVIA Holdings Inc., Koninklijke Philips NV, McKesson Corp., Medeanalytics Inc., Microsoft Corp, Oracle Corp., SAP SE, Snowflake Inc., UnitedHealth Group, UnitedHealth Group Inc., and Verisk Analytics Inc. among others.
Download Report Sample to Unlock the Healthcare Cloud Based Analytics Market Size for the Forecast Period and Other Important Statistics
The increasing cloud-assisted medical collaborations is notably driving the healthcare cloud based analytics market growth, although factors such as shortage of cloud professionals in healthcare industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the healthcare cloud based analytics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Healthcare Cloud Based Analytics Market Driver
One of the key factors driving growth in the healthcare cloud based analytics market is the increasing cloud-assisted medical collaborations. Research collaborations are increasing globally, especially in the field of healthcare. Organizations are moving toward conducting collaborative studies to tackle human healthcare issues quickly and effectively. These research studies entail the analysis of vast datasets for research purposes. Thus, establishments promoting research initiatives require systems with high computational capabilities. Installation of these systems involves huge costs due to infrastructure and hardware equipment requirements. Deploying cloud computing provides cost and infrastructure flexibility to organizations, as IT resources are acquired and used based on demand and requirement. Cloud computing also facilitates better collaborative research among various healthcare researchers and other stakeholders. Therefore, the adoption of the cloud enables better collaborations among various stakeholders in the healthcare industry. The rising number of such collaborations will drive the market.
Key Healthcare Cloud Based Analytics Market Trend
The introduction of edge computing is a healthcare cloud based analytics market trend that is expected to have a positive impact in the coming years. Edge computing is a method of optimizing cloud computing systems by performing computing applications at the logical end-point of the network instead of cloud or data centers. Cloud computing in the healthcare industry is increasingly deploying IoT devices for health monitoring and other applications. Typically, IoT data is collected and transmitted to a cloud or data center for processing and analysis, which is time-consuming. Hence, edge computing can help speed up data collection and analysis, thereby improving the overall process speed. Edge computing takes advantage of the proximity between various IoT devices and their relationships with each other. Vendors such as BioLert provide software that uses edge computing for the monitoring of epileptic patients. Edge computing also creates a record of patients' vitals and events, which can be used by medical professionals to determine a better treatment regime for patients. Owing to these factors, the global healthcare cloud based analytics market is expected to grow.
Key Healthcare Cloud Based Analytics Market Challenge
The shortage of cloud professionals in the healthcare industry will be a major challenge for the healthcare cloud based analytics market during the forecast period. The deployment of cloud technologies in various industries has resulted in high demand for trained cloud computing professionals. Despite the high demand, there is a shortage of qualified and trained cloud computing professionals in the industry. Cloud computing is being increasingly adopted across industries and will require a high number of trained professionals. With the increasing demand for cloud-supported networks in the healthcare industry, the requirement for trained professionals, who are trained in cloud deployment and are familiar with healthcare practices and processes, will be high. Healthcare organizations employing cloud computing will require an ever-increasing number of trained specialists for application development, data security, and management. Thus, the cost of hiring these specialists, coupled with a shortage of such professionals, will hamper the growth of the market.
This healthcare cloud based analytics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global healthcare cloud based analytics market as a part of the global healthcare technology market, which, in turn, is a part of the global healthcare market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the healthcare cloud based analytics market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the healthcare cloud based analytics market encompasses successful business strategies deployed by the key vendors. The healthcare cloud based analytics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
cisco.com - The company offers healthcare cloud based analytic solutions that securely connect remote staff to sensitive data, enable reliable telehealth visits, and ensure collaboration is prioritized on the network with one solution, which can be easily managed from anywhere.
cisco.com - Through the Americas segment, the company offers its products and services in the countries such as the US, Canada, Mexico, and Brazil.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The healthcare cloud based analytics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the healthcare cloud based analytics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.