Cloud Surge: Healthcare Cloud Infrastructure Market Targets US$ 464.1 Billion by 2033

A report conducted by Future Market Insights predicts that by 2022, the global healthcare cloud infrastructure market would generate US$ 45.1 billion in revenue. By 2033, the market is projected to grow at a 23.9% CAGR and be worth US$ 464.1 billion. The market is anticipated to have an absolute dollar potential of US$ 409 billion over the course of the projected period.

The market is growing rapidly due to a significant surge in digitalization, artificial intelligence, and machine learning computing, rising cloud database infrastructure, and increasing capital expenditure. The efficient cloud database management system enhances the quality of treatment and care of individuals.

The adoption of data analytics, wearable devices, and the Internet of Things surges the demand for the healthcare cloud computing market. The Internet of Things in Healthcare Industry is expected to change the dynamics of the healthcare industry. Cloud infrastructure helps to collect information on individual and remote monitoring of patients in the healthcare industry.

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Increased use of IoT solutions in healthcare is anticipated to spur market expansion over the forecast period. Market players including IBM, SAP SE, and Cisco Systems Inc. are leveraging IoT technologies and solutions to enhance healthcare products and services throughout their transactional activities.

Cloud computing allows access to the patient data to the manufacturer of the devices, services providers, doctors, and the patient as well. Cloud systems are integrated with healthcare organizations and represent a privacy and security safeguard for healthcare data by encrypting it with data hard forking and fine-grained access controls.

The market in North America is expected to cross US$ 150 Billion by 2023, growing at a CAGR of over 20% from 2023 to 2033. The healthcare IT expenditure in the regions has been skyrocketing. The number of remote patient monitoring in the U.S. increased from 39.3 Million in 2021 to 45.1 Million in 2022. By 2025, this number is expected to swell to 70.6 Million. Besides, telemedicine appointments in the region have also surged which has consequently triggered the demand for healthcare cloud infrastructure in the region.

Competitive Landscape:
The key players operating in the global healthcare cloud infrastructure market are

Dell, Inc.
Hewlett Packard Enterprise Development
Microsoft
Oracle
IBM
Salesforce
Amazon

A few of the recent developments in the Healthcare Cloud Infrastructure Market are:

In February 2022, IBM and SAP strengthened their partnership to enable clients to move their workloads from SAP solutions to the Cloud.
In February 2022, Kyndryl partnered with AWS to accelerate cloud adoption and innovation for customers.
In July 2021, Amazon announced the rollout of AWS for Health cloud services for healthcare, genomics, and biopharma.
In July 2021, Wellforce announced the migration of its Epic infrastructure to AWS cloud.

Market Segments Covered in Healthcare Cloud Infrastructure Market Analysis

By Component: