Speeding Up Healthcare Innovation Leveraging Cloud Technology

Over the past decade, cloud computing has undergone remarkable expansion. The collective revenue generated by AWS, Google Cloud, and Microsoft surged from $49 billion in 2018 to an astonishing $206 billion in 2022.[i] Projections from Future Market Insights indicate that the revenue from cloud services is poised to maintain an impressive average annual growth rate of 21%, reaching a staggering $4.4 trillion by 2033.[ii] The momentum of the cloud migration wave appears unstoppable, and for good reason. Numerous companies spanning diverse industries have reaped substantial benefits by transitioning to the cloud.

The healthcare industry in the last five years has witnessed a significant acceleration with adopting this transformative trend. Progressive healthcare companies have wholeheartedly embraced cloud technology to expedite innovation, gaining a crucial competitive advantage in the process.