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Market Synopsis
Rapid technological advances are creating new opportunities for digitalisation across the healthcare sector. Implementation of the Internet of Things ( IoT) in the healthcare sector has led to the generation of substantial volumes of patient data across the organization and is expected to grow signifcantly. Increasing penetration of wearable and smart health devices for health monitoring and tracking purposes also accelerates data generated throughout the healthcare sector; this increases the demand for data storage and analytics capabilities among healthcare providers to understand and obtain insights. In addition, cost-effective features, effective data storage capability, scalability , and flexibility offered by cloud platform such as reducing IT infrastructure-related costs further propels the global health cloud market to grow. However, the cloud platform’s data security and privacy concerns and interoperability issues are factors which limit market growth.
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Regional Analysis
As per the study by MRFR, the global market is estimated to be dominated by North America. The North American market is likely to acquire the largest market share owing to the growing adoption of virtual machines. Among all nations, the US is likely to make the most substantial contribution to expanding the market. Besides, the established players take initiatives to expand the market. Tactics like partnerships, mergers and acquisition are the most used strategies.
On the other hand, Europe is expected to be the second most lucrative market during the assessment period. The virtual machine backup is in a significant demand which is likely to enlarge the market size. As per the study, the APAC region is estimated to the fastest-growing region during the assessment period. There has been a rise in the adoption across several industries which is likely to drive the regional market.
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About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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