Healthcare Business Intelligence Market Set to Grow at 15.3% CAGR to 2023 – Emerging Trends, Segmentation, Top Technologies for North America
Jan 10, 2019
Healthcare business intelligence market is dominated by North America, followed by Europe, Asia, and RoW. Industry in North America is expected to witness highest growth during forecast period. This market is expected to grow at 15.3% highest CAGR during forecast period.
Pune, India - January 10, 2019 /MarketersMedia/ —
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.
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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.
The study involved four major activities to estimate the current size of healthcare business intelligence market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. North America is expected to account for largest share of healthcare business intelligence market. 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.
Key Top Player Covers in the Report are
• 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)
• BOARD International (Switzerland)
Click Here for More Information on Healthcare Business Intelligence Market with Top Company Profiles, Overview and Trends at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=285672 .
The report on healthcare business intelligence market covers factors such as the 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, and the increasing number of patient registries are expected to drive the growth of the market.
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.
Get Discount on “Healthcare Business Intelligence Market by Component (Platform, Software, Service), Function (OLAP, Performance Management), Application (RCM, Inventory, Strategy Analysis), Deployment Model (Cloud, Hybrid) & End User (Payer, Hospital) - Forecast to 2023” report at https://www.reportsnreports.com/contacts/discount.aspx?name=285672 .
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 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%
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.
Contact Info:
Name: Snehal Shete
Organization: Reportsnreports
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Website: https://www.reportsnreports.com/reports/285672-healthcare-business-intelligence-bi-market-by-function-reporting-olap-monitoring-application-clinical-financial-technology-traditional-cloud-mobile-end-user-hospitals-clinics-aco-hie-payers-trends-global-forecasts-to-2018.html
Source: MarketersMedia
Release ID: 468677
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