Healthcare Business Intelligence (BI) 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. The 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%.
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Global Healthcare Business Intelligence Market is Segmented on:
1. Component
2. Application
3. End User
4. Region
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 healthcare business
intelligence (BI) market.
The healthcare business intelligence platforms segment are expected to account
for the largest share of the market. The large share of this market segment is
mainly driven by the increasing requirement for customized BI solutions
catering to individual requirements of organizations and allowing them the
flexibility to build and integrate BI solutions into existing healthcare
business applications for higher efficiency and reduced costs.
Regional Analysis:
The market is dominated by North America, followed by Europe, Asia, and
RoW. The market in North America is expected to witness the highest growth
during the forecast period. The high growth of the North American market can be
attributed to 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.
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Key Players:
The market is highly
competitive in nature, with several big as well as emerging players. Prominent
players in this market include 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).
