Healthcare BI Platform Market: Cloud Computing Integration to Propel Industry Growth

Business Intelligence (BI) platforms help build BI applications by providing competences in analysis, platform integration, and information delivery. As healthcare organizations are realizing the untapped potential of huge amounts of data, they are implementing solutions that utilize business intelligence to help collect, sort, and mine valuable insights from this data. The complex data gathered from numerous sources (operational, patient data) is analyzed and used by healthcare providers with the aid of BI platforms for the larger population.

The global healthcare business intelligence (BI) platform market is expected to reach US$3.91 bn by the end of 2023. According to a research report released by Transparency Market Research, this market is expanding at a CAGR of 11.7% within a forecast period from 2015 to 2023. The global healthcare business intelligence (BI) platform market was recorded at US$1.52 bn in 2014. The report, featured under the technology and media section, is entitled, “Healthcare BI Platform Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.”

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Similar to business intelligence platforms in other sectors, healthcare BI platforms can help any healthcare organization create relevant applications to gain a stronger grasp on the various processes they are running. BI platforms make use of technologies that can improve a healthcare organization’s quality assurance levels and even help in reducing overspending. These can be considered as the biggest drivers for the global healthcare BI platform market.

This market is expected to grow at an accelerated rate due to the advancements in existing technologies. Moreover, the integration of cloud computing solutions into healthcare BI is expected to be a major driver for the market. Another factor propelling the global healthcare BI platform market is the growing number of collaborations between players and clients to improve existing trends such as self-service BI platforms.

The report presents a segmented analysis of the global healthcare BI platform market on the basis of function, type, model, and region.

The various functions in the global healthcare BI platform market are operational analysis, financial analysis, clinical analysis, and others such as regulatory reporting. In 2014, 35.0% of the market was held by the segment of financial analytics, which was the leading segment at the time.

On the basis of deployment type, the market is segmented into cloud and on-premise. Of these, TMR analysts expect cloud-based deployment platforms to show the fastest growth rate in the forecast period.

With corporate and self-service being the two model types in the global healthcare BI platform market, it is expected to be propelled by the high growth rate of the self-service segment.

The report’s geographical perspective sheds light on the most active and successful regions in the global healthcare BI platform market. As per the findings, 47.8% of the market was occupied by North America in 2014, owing to high healthcare expenditures and a growing need to cut costs internally. The North America healthcare BI platform market has especially experienced a major increase in the demand for cloud computing solutions in the recent past. The demand is expected to increase even further in the given forecast period.

The key players in the global healthcare BI platform market, as explained in the report, include Information Builders, OpenText Corporation, SAS Institute, Inc., Microsoft Corporation, Oracle Corporation, IBM Corporation, and SAP SE.

Key Segments of the Global Healthcare BI Platform Market

Global Healthcare BI Platform Market, by Function

Clinical Analytics
Financial Analytics
Operational Analytics
Others (Regulatory Reporting, etc.)
Global Healthcare BI Platform Market, By Deployment Type

On-premise
Cloud
Global Healthcare BI Platform Market, By Model Type

Self-service
Corporate
Global Healthcare BI Platform Market, By Geography

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.