Compass Intelligence New Research Finds the Healthcare IT Market to Reach $78 Billion in 2012

SCOTTSDALE, Ariz., Feb. 21, 2012 /PRNewswire/ -- This week kicks off the HIMSS 2012 conference in Las Vegas, and with that the Healthcare industry is the talk of the nation.  Compass Intelligence is excited to be a part of this industry and kicks off this week with our annual market sizing of the healthcare IT market.  This year alone, the healthcare IT market will reach $78 billion, which includes expenditures on telecom services/equipment, IT personnel, applications/mobile applications, computer hardware, network hardware, and 3rd party services and outsourcing.  The market is expected to maintain about a 5% CAGR over the next five years to reach $92 billion by 2016.

"One primary area of investment by the medical community include mobile solutions centered around remote monitoring and patient tracking," says Stephanie Atkinson, Managing Partner at Compass Intelligence.   Ms. Atkinson also states, "Implementation of the various stages of Electronic Health Records will drive infrastructure and integration needs to support the access, storage, and transfer of data across CRM, HIS, ERP, clinical, and other healthcare enterprise systems."  The adoption of more advanced medical software and solutions is also expected to drive the need to securely backup, store, and maintain patient and medical data. Compass Intelligence believes this need will give rise to cloud-based solutions specifically developed for and offered to the healthcare industry.  Late last year, AT&T and Accenture announced a medical imaging solution utilizing AT&T's cloud services.

Other trends driving growth to this market include:

• Technology, especially mobile solutions, is being seen as a cost driver at an increasing rate.  This is interesting as the Medical community has traditionally been slow to adopt the latest technology.  
• The growing acceptance and adoption of mobile healthcare solutions are driving the vendor community to launch exciting new products and services, which in turn is also driving adoption around solutions to improve patient care.
• The growth in mobile health and wellness applications is expected to drive the growth and adoption of mobile medical applications used for patient care, tracking, and monitoring.    
• The increased implementation of medical technology continues to drive the need for secure broadband, backup, storage, and other professional services.      
• The advancement of cloud-based offerings will drive cloud adoption in healthcare, especially as it relates to storage and security of imaging and patient records.           

For more information or to learn more about our Healthcare research, click here: http://tinyurl.com/23j8vh4

About Compass Intelligence
Compass Intelligence, a global consulting and market analytics firm, specializes in segment and vertical market intelligence for the high-tech and telecom industries; and offers clients a tailored research experience through excellent customer support. Compass Intelligence provides subscriptions and research reports, insight videos, forecasts, competitive analysis, market data and expert recommendations on multiple markets. Find us on http://www.compassintelligence.com or follow us on http://twitter.com/compassintel.

For Interviews or Other Requests
Stephanie Atkinson
Managing Partner  
[email protected]

SOURCE Compass Intelligence