Security News > 2021 > October > Healthcare IT market to reach $121.75 billion by 2025

The healthcare IT market is estimated to grow by $121.75 billion between 2021 and 2025, growing at a CAGR of almost 10%, according to Technavio.

Factors such as the rising need for automation across departments and the growing integration of big data with healthcare IT will drive the growth of the Healthcare IT Market during 2021-2025.

The increased focus on improving service quality by healthcare service providers is expected to open multiple growth opportunities for players in the market.

Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market segmentation By component, the market is classified into services, software, and hardware.

By geography, the market is analyzed across North America, Europe, APAC, South America, and MEA. North America will have the largest share of the market.

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