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With the outbreak of COVID-19 in worldwide and stipulated lockdown, the healthcare sector is witnessing an unprecedented slowdown as per EY-FICCI study titled, COVID-19 impact assessment for healthcare sector and key financial measures recommendations for the sector. The study is predicated on an assessment of healthcare players within the country to assess the economic impact of the COVID-19 pandemic and provides recommendations on the fiscal stimulus measures it needs within the coming months.

The research report on healthcare cloud computing market includes current market scenario analysis as well as a revised forecast for a period of eight years. According to a recent market report published by Persistence Market Research titled,Healthcare Cloud Computing Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)the globalhealthcare cloud computing marketis anticipated to be valued at US$ 7791.4 Mn in 2025, and is expected to register a CAGR of 18.9% from 2017 to 2025.

Increasing demand for better healthcare facilities and Rising investments by healthcare IT players are major factors driving growth of the global healthcare cloud computing market.

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Cloud refers to a prototype in which data is permanently stored on servers and accessed by clients with the help of different information systems such as computers, sensors, laptops, and others. Cloud computing refers to a process which involves delivering hosted services to clients.

Global Healthcare Cloud Computing Market: Segmentation & Forecast

Global healthcare cloud computing market is categorized on the basis of application, deployment model, by components, by service model and region. On the basis of application, the market is segmented as CIS and NCIS. The CIS segment is anticipated to register a CAGR of 20.3% during the forecast period.

The component segment is segmented into software, hardware, and services. On the basis of deployment model, the market is segmented as public cloud, private cloud, and hybrid cloud. Private cloud segment accounted for highest market share and was valued at US$ 2,504 Mn in 2016.

The service model segment is segmented as SaaS, Paas, and IaaS. The SaaS segment is poised to be highly lucrative in the coming years. This segment is estimated to reach a value of about US$ 25.4 Bn by 2025 end and is the fastest growing segment to register an exponential CAGR of 19.7% throughout the period of assessment, 2017-2025.

The PaaS segment is the smallest segment with a low estimate of US$ 360.3 Mn in 2017 and is expected to reach US$ 1.2 Bn by 2025 end. By component, the software segment is projected to grow at a higher rate to register value CAGR of 19.2% throughout the period of forecast and is the largest segment in terms of value share. It is estimated to reach a valuation of more than US$ 21 Bn by the end of 2025.

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Global Healthcare Cloud Computing Market: Regional Forecast

This report also covers drivers, restraints and trends driving each segment and offers analysis and insights regarding the potential of healthcare cloud computing market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

Among these regions, North America accounted for the largest market share in 2016. Moreover, North America region is also expected to register a healthy CAGR of 19.6% during the forecast period.

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COVID-19 Impact on Healthcare Cloud Computing Market Marked US$ 13 Bn in forecast Years 2025 - 3rd Watch News