Healthcare Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)

Healthcare Sector Enterprise ICT Market Overview

The healthcare sector enterprise ICT market size was pegged at $165.8 billion in 2022 and is expected to grow at a CAGR of over 10% during 2022-2027 to $277.2 billion in 2027. With rising competition in the healthcare market, companies are expected to increase their ICT spend. Digital technologies enable them to remain competitive and relevant in the market by allowing them to quickly develop products as per consumer needs, lower operational costs, and create personalized digital marketing campaigns, among others.

Healthcare Sector Enterprise ICT Market Outlook, 2022-2027 ($ Billions)

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The Healthcare Enterprise ICT Vertical Intelligence Report, a new Vertical Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Healthcare. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises operating in the healthcare sector in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides a detailed analysis of the overall healthcare sector’s enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts.

The report also discusses the market growth inhibitors impacting the healthcare sector’s overall ICT market. It sheds focus on enterprise ICT budget allocations and ICT revenue opportunities covering 18 solution areas, segmental analysis, and regional analysis. The report also includes a brief profile of some of the key ICT vendors within the Healthcare vertical.

Enterprise ICT Revenue Opportunity in Healthcare - Segment Analysis

GlobalData’s survey findings suggest that enterprise ICT budget allocations for all ICT products and services areas in the healthcare sector have increased in 2023 compared to 2022. For ‘software,’ over 68% claimed that their ICT budget allocation increased in 2023 compared to 2022.

According to GlobalData, the healthcare sector ICT market would see the majority share of its revenue come from the IT services segment over the forecast period. The report also discusses the enterprise ICT revenue opportunity across IT software and IT hardware segments over the forecast period.

• IT Services
• IT Software
• IT Hardware

Healthcare Sector Enterprise ICT Market Share by Segment, 2022 (%)

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Healthcare Sector Enterprise ICT Market Segmentation by IT Solution

The healthcare sector enterprise ICT vertical intelligence report offers ICT revenue market indicators across the following IT services solution areas:

• Cloud Computing Services
• Consulting & Integration Services
• Business Process Outsourcing Services
• Networking Services
• Application Development and Management Services
• Internet of Things (IoT) Services
• Communications and Collaboration Services
• Client Computing Services
• Data Center and Hosting Services
• Security Services
• Storage Services
• Server Services
• Artificial Intelligence (AI) services
• Mobility Services
• Edge Computing Services

Cloud computing was the largest ICT solution area in the healthcare vertical in terms of revenue opportunity. Revenue opportunity for cloud computing in the healthcare vertical was pegged at $24.1 billion in 2022. It is estimated to grow at a CAGR of over 16% during 2022-2027. Cloud platforms are more cost-efficient and secure than servers and traditional IT infrastructure. Moreover, they enable companies to scale-up their operations quickly.

Healthcare Sector Enterprise ICT Market Share by IT Solution, 2022 (%)

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Healthcare Sector Enterprise ICT Market Segmentation by Region

ICT revenue opportunity in the North America healthcare industry was pegged at $16.2 billion in 2022. It is expected to grow a CAGR of over 7% during 2022-2027. Several healthcare companies in North America do not have complex legacy systems and facilities to upgrade, discard, or integrate. This makes it easier for them to install the latest ICT solutions.

Healthcare Sector ICT Market Share by Region, 2022 (%)

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Scope

The vertical intelligence report provides an in-depth analysis of the following –

• The macroeconomic and regulatory context and government initiatives in the healthcare vertical.
• Enterprise ICT market outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT segments, ICT solution areas, and key regions.
• Enterprise ICT Budget Allocations – 2022 vs 2023: Overview of survey findings regarding changes in the overall enterprise ICT budget allocations in 2023 compared to the previous year and across ICT segments, ICT solution areas, and existing vs new IT projects.
• Enterprise ICT growth drivers, market trends and challenges
• IT hardware segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT hardware solution areas and budget allocations by ICT hardware categories.
• IT software segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT software solution areas and budget allocations by ICT software categories.
• IT services segment revenue and budget allocations outlook: Analysis as well as historical figures and forecasts of revenue opportunities from ICT services solution areas and budget allocations by ICT services categories.
• Enterprise Technology Priorities: Overview of survey findings on enterprise investment priority for key solution areas in current vs next two years.
• Company landscape: Analysis of the market position of leading ICT providers in the healthcare market.
• Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
• The survey was conducted in H1 2023 via an online methodology, with respondents all having ICT decision making responsibility (typically CIOs and IT Managers). GlobalData plans to repeat the survey in H1 2024, to monitor ICT budget changes on an ongoing basis.

Reasons to Buy

• This Vertical Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises in the healthcare vertical and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of the healthcare sector enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in the healthcare sector enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to the previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions, and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunities by various solution areas, enterprise size bands, end-use verticals, and segments over the forecast period 2022-2027.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision-makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.