Artificial Intelligence
Healthcare Data Storage Market Growing at an Impressive Rate: Projected to Reach Worth USD 6.12 Billion in 2027
Noida, Feb. 25, 2021 (GLOBE NEWSWIRE) — According to a recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, the global healthcare data storage market was worth USD 3.08 billion in 2020 and is further projected to reach USD 6.12 billion by 2027 at a CAGR of 10.7% during the forecast period 2021-2027. Healthcare organizations across the world are investing a significant amount in upgrading their storage IT infrastructure to make it more versatile and robust so as to satisfy the growing demand in the healthcare sector. Organizations often face difficulties in managing clinical data created by connected medical devices, patient data generated by hospitals, and other health-related records. The growth of the market is expected to be influenced by factors such as huge volumes of digital data produced in healthcare institutions, the fast and simple introduction of cloud storage solutions, expanded use of electronic medical records (EMR), computerized provider order entries (CPOE), and the acceptance of hybrid data storage solutions.
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Introduction of the interoperable system and cloud-based computing system in the healthcare sector
The introduction of the interoperable system and cloud-based computing system for detecting diseases is a major driving force of the healthcare data storage market. The demand for early disease detection is rising globally. The computing revolution has given rise to the concept of cloud computing, which uses software, infrastructure, and platform as services. The U.S. National Institute of Standards and Technology studies states that cloud computing is a model for enabling ubiquitous, convenient access to a shared pool of configurable computing resources. For instance, HealthVault launched by Microsoft is a web-based Personal Healthcare Record system used for storing and managing health information. A lot of particular third-party applications, viz., blood pressure management tools, and medical image viewers, as well as hundreds of devices such as blood glucose meters and blood pressure monitors, are compatible with this platform to record health data in the healthcare sector. Moreover, the growing technological advancements devised for improving IT infrastructure, namely the implementation of IoT, artificial intelligence, and Big Data are some of the significant factors that are propelling the market growth. Additionally, cloud computing offering large scalable computing and storage services, along with data sharing services, on-demand 24/7 access to applications and resources in healthcare is driving the adoption of data storage in the healthcare sector.
Increasing Research & Development for Product Development
The rising number of clinical trials, especially the growth in outsourcing of Phase III and Phase II trials clinical trials, along with the growth in collaborations between key players and clinical service providers to minimize mechanical failures are the key factors driving the global healthcare data storage market.
ClinicalTrials.gov currently lists 367,663 studies in all 50 States and 219 countries as of January 2021. The geriatric population and the subsequent increase in the prevalence of chronic diseases, along with the development of new drugs and growing acceptance of evidence-based medicine for various therapeutic areas are accelerating the demand for more clinical research. Consequently, the growing need for more data storage by clinical research organizations for securing their data is fueling the demand for the global healthcare data storage market.
Flash-and Solid-State Storage type segment held the largest share in the global healthcare data storage market in 2020
Based on type, the global healthcare data storage market comprises flash and solid-state storage, and magnetic storage. The Flash and solid-state storage type segment held the largest share in the global healthcare data storage market in 2020. The high capacity of flash and solid-state compared to magnetic disks is driving its demand. Additionally, the price of flash drives and solid-state drives has declined significantly, leading to increased end-user adoption.
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COVID-19 Impact
An immense amount of substantial health care data comes with the outbreak of the COVID-19 pandemic. Huge volumes of data have been gathered from the number of reported cases coming from different countries and hospitals. For policymakers making strategic choices at the peak of this pandemic, it is crucial to exploit data-driven information in real-time, but many healthcare companies are unable to quickly and accurately harness the vast data sources to fulfill the healthcare industry’s demands.
Data teams globally are mobilizing the gathered data to help tackle the pandemic’s most important challenges in response to this threat. Modern data systems offer powerful computing resources that enable analysts, physicians and hospital executives, government, and pharmaceutical companies to compile and interpret different databases and provide decision-makers with actionable insights.
For most hospital systems, digital transformation has been a slow burn, but Covid-19 has sparked an increased initiative, especially in the shift towards integrated health records analytics. Advanced hospitals nowadays use different Electronic Health Record (EHR) systems with complex architectures for data storage and analytics. These complex structures often fail to communicate quickly, making it impossible to gather all the data that would provide a full image of a patient.
Data analytics technology also lets government departments easily generate up-to-date data sets at the state level and execute statistical models. It also helps them distribute money optimally, provide knowledge to public health testing activities, and effectively curtail the spread of Covid-19.
The pandemic has highlighted how the speed of data processing and interpretation is crucial for technological modernization. Cutting-edge infrastructure environments such as cloud data lakes empower companies in healthcare and life sciences to empower real-time data processing, while notebooks make it easier for data scientists to share knowledge and research with their colleagues.
Global Healthcare Data Storage Market: Regional Insights
The global healthcare data storage market is segmented into five regions—North America, Europe, the Asia-Pacific, Latin America, and the Middle-East & Africa.
North America witnessed the largest share in the market owing to the use of innovative solutions by clinics and hospitals for maintaining patient data and the availability of the most advanced healthcare information technology solutions. Europe holds the second-largest share in the global healthcare data storage market and is likely to maintain its place during the forecast period owing to the presence of several healthcare businesses providing diagnosis and treatment products, thereby driving the market for healthcare data storage IT solutions. Additionally, the emergence of a large patient population suffering from arthritis, diabetes, and cancer is further driving the market growth.
The Leading Players in The Market- Hitachi (Japan), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (US), Eaton (Ireland), Varentec (US), Amantys (UK), Ermco (US), SPX Transformer Solutions (US), ABB, GridBridge, Cloudian, and other prominent players.
Cloudian (US)- Cloudian US is one of the leading service providers of healthcare data storage that helps manage, secure, and retain huge volumes of patient data, including scans, MRI, X-rays, and other relevant reports. Cloudian provides fast and futureproof S3 object storage. It has also partnered with green cloud technologies, a VMware cloud service provider, to facilitate the storage of healthcare data up to 50 Tb.
Scope of the Report
By Type
- Flash & Solid-State Storage
- Magnetic Storage
By Storage System
- Storage Area Network
- Direct-Attached Storage
- Network-Attached Storage
By Delivery
- Remote
- Hybrid
- On-premise
By End-User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Research Centers
- Others
By Region
- The Asia-Pacific
- North America
- Europe
- The Middle East & Africa
- Latin America
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
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PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
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Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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