What This Report
Will Provide?
This study involved four major
activities in estimating the current size of the healthcare business
intelligence market. Exhaustive secondary research was carried out to collect
information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with
industry experts across the value chain through primary research. Both top-down
and bottom-up approaches were employed to estimate the complete market size.
After that, market breakdown and data triangulation procedures were used to
estimate the size of segments and subsegments.
Expected Revenue Growth:
[194 Pages Report] 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%
Major Growth Boosters:
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 market.
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Recent Developments:
In 2018, Oracle acquired Zenedge (US)
to secure critical IT systems deployed via cloud, on-premise, or hybrid hosting
environments with the help of Zenedge.
In 2018, SAS entered into an agreement with Deloitte (Canada) to support their
existing strategic alliance that will leverage their combined expertise to
introduce lower-risk and higher-quality outcomes in the insurance marketplace.
In 2017, Microsoft partnered with SAP SE (Germany) to drive more business
innovation in the cloud and provide joint support services to ensure the best
cloud experience for customers.
Regional Growth 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.
Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global healthcare business
intelligence market?
2. What are the drivers, restraints, opportunities, and challenges in the
healthcare business intelligence Industry?
3. What are the opportunities for stakeholders and provide details of the
competitive landscape for key players?
4. What will be growth of healthcare business intelligence in North America,
Europe, Asia Pacific, Latin America, and the Middle East and Africa?
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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).
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.
