Cloud technology market worth $194.4M in 2012 with growth on horizon

The market for cloud technologies reached $194.4 million in 2012, and is expected to grow at a compound annual growth rate of 22.3 percent between 2012 and 2013, according to research published by Frost & Sullivan.

Given the positive outlook, the report predicts that cloud technologies, which include software-as-a-service and –infrastructure-as-a-service offerings, “will be the single most important enabler of healthcare mega trends of the future,” according to the firm.

The report identifies healthcare industry vertical clouds, telehealth and remote patient monitoring and consumerisation of healthcare as major transformations that will be catalyzed by cloud solutions.

“Healthcare providers are cognizant of the long-term cost benefits of cloud solutions,” wrote Frost & Sullivan Senior Industry Analyst Natasha Gulati. “What they are looking for now are reliable technology partners who can address their concerns over data privacy and security.”

 

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