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Global Cloud Computing Market Expected to Soar, Report Says

April 29, 2014
by Rajiv Leventhal
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By 2017, healthcare organizations will spend $5.4 billion on cloud services, according to a recent report from global researcher MarketandMarkets.

The market is witnessing a surge in the adoption of technology, and the researchers predict that cloud computing is expected to bring about a revolution in the healthcare IT market, as in today’s shifting healthcare landscape, organizations are expected to deliver more while limiting costs at the same time.

According to the report, security and privacy concerns are the primary reasons for slow adoption of this technology so far. In 2011, the penetration of cloud in healthcare was approximately just 4 percent. But a large number of organizations are allocating funds for migration to cloud computing in the next five years, the report says.

Cloud technology in healthcare market can be segmented by applications, deployment models, service models, pricing models, and components. Applications in healthcare are of two main types; clinical information systems (CIS) and non-clinical information systems (NCIS).

Private, public, and hybrid clouds are the three deployment models across the healthcare industry. The industry has been slow to adopt public clouds due to its highly-regulated nature, where as the private and hybrid cloud models have a higher affinity. The healthcare cloud market by service models is further classified into software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS). The market is dominated by SaaS providers such as Carestream Health, Inc. and GE Healthcare (U.K.), the report states.

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