The healthcare cloud computing market is projected to be valued at $12.6 billion dollars by 2020, according to Persistence Market Research.
Here are five more things to know about the healthcare cloud computing market.
1. In 2014, the market was valued at $4.2 billion. It is expected to grow at a compound annual growth rate of 20.1 percent over the next five years.
2. Reasons for the cloud computing market's growth include increased government spending on healthcare IT, improving features of cloud computing, growing demand for improved healthcare facilities and an increasing popularity of wireless and cloud technologies.
3. Reasons prohibiting the market's growth include high costs associated with implementing clinical information systems, lack of security and privacy of patient information and issues with interoperability.
4. Globally, North America has the largest market for healthcare cloud computing, valued at approximately $1.9 billion in 2014. The value is expected to reach approximately $5.8 billion by 2020.
5. Leading players in the global healthcare cloud computing market include Microsoft, IBM, Agfa, CareCloud, Dell, Oracle, GE Healthcare and Merge Healthcare.
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