New Report provides healthcare business intelligence market in depth study, forecast to 2023. Study estimates size, future growth potential of healthcare business intelligence across different segments, component, function, application, deployment model, end user, region.
Healthcare business intelligence market is expected to reach USD 8.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 15.3% during forecast period. Factors like implementation of government initiatives to increase EHR adoption, growing adoption of data-driven decision-making, growing pressure to curb healthcare spending and improve patient outcomes, big data in healthcare, & increasing number of patient registries are expected to drive growth of market.
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North America is expected to account for largest share of healthcare business intelligence market. This market is also expected to grow at highest CAGR during forecast period. The increasing adoption of healthcare intelligence solutions and services by healthcare providers (especially in the US) to provide better quality care and lower healthcare costs is a major factor driving market growth.
Healthcare business intelligence market dominated by North America, followed by Europe, Asia, and RoW. Market in North America expected to witness highest growth during forecast period. High growth of North American market can be attributed to increasing adoption of healthcare intelligence solutions and services by healthcare providers (especially in the US) to provide better quality care and lower healthcare costs is a major factor driving market growth.
List of Companies Profiled in Healthcare business intelligence market Report Microsoft (US), IBM (US), Oracle (US), SAP SE (Germany), SAS Institute Inc. (US), Tableau Software (US), MicroStrategy Incorporated (US), QlikTech International AB (US), Information Builders (US), Sisense Inc. (US), Yellowfin BI (Australia) and BOARD International (Switzerland).
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The healthcare business intelligence market is segmented into OLAP & visualization, performance management, and query & reporting. In 2018, performance management segment is expected to grow at highest CAGR during the forecast period majorly due to advantages associated with these tools. Performance management tools help healthcare organizations measure, monitor, and track strategic goals and performance milestones.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type – Tier 1: 37%, Tier 2: 22%, Tier 3: 41%
- By Designation – C-level: 25%, D-level: 20%, Others: 55%
- By Region – North America: 40%, Europe: 27%, Asia: 20%, RoW: 13%
IBM is one of the key players in the healthcare BI market and provides a comprehensive range of solutions for this market. IBM is an innovation-centric company; its R&D expenditure has increased substantially in 2017 as compared to 2015. In 2017, it invested 7.3% of its annual revenue in R&D activities. This significant investment allows the company to offer innovative solutions by adopting new product launches. With an aim to increase its footprint in various sectors, IBM has adopted inorganic strategies, such as acquisitions, collaborations, and partnerships.
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This report provides a picture of the global healthcare business intelligence market. It aims at estimating the size and future growth potential of the market across different segments, such as componet, function, application, deployment model, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall healthcare business intelligence market and its sub segments. Also, this report will help stakeholders to better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. It will also enable stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.