Healthcare Business Intelligence Market is Expected to Reach USD 8.9 billion by 2023 from USD 4.4 billion in 2019 | at a CAGR of 15.3%

To identify the scope of Global Healthcare Business Intelligence Market 2020, this report is prepared by in-depth analysis of historical data. The report forecasts the market size by the end of 2025 at an impressive CAGR provided by Reports and Reports. The report offers detailed outline of Global Healthcare Business Intelligence Market and vital market trends. The prime agenda of this report is to provide a detailed analysis of the global, regional and country-level market size, market growth, market status, forecast, sales analysis, value chain optimization, trade regulations, recent developments, opportunities analysis, and importance of the global and national market players, competitive environment, expansion, acquisition, partnerships and technological innovations. The prime market segments considered to prepare this report are key players, regional segments, type and application.

"Growing adoption of data-driven decision-making is expected to drive the overall growth of the healthcare business intelligence market"

The healthcare business intelligence market is projected to reach USD 8.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 15.3% during the forecast period. The growth of this market is majorly driven by 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. However, high initial investments are required for purchasing a suitable BI software or platform, implementing it in an organization, and maintaining and training employees on using it. This is expected to restrain market growth to a certain extent during the forecast period.

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"Performance management segment is expected to grow at the highest CAGR during the forecast period"

Based on device type, the healthcare business intelligence market is segmented into OLAP & visualization, performance management, and query & reporting. In 2018, the performance management segment is expected to grow at the highest CAGR during the forecast period majorly due to the advantages associated with these tools. Performance management tools help healthcare organizations measure, monitor, and track strategic goals and performance milestones.

"In 2108, On-premise model segment is expected to account for the largest share of the healthcare business intelligence market, by deployment model"

Based on deployment model, the healthcare business intelligence market is segmented into on-premise, hybrid, and cloud-based models. In 2018, the on-premise model segment is expected to account for the largest share of the healthcare business intelligence market. The large share of this segment is attributed to the the fact that the on-premise model is more customizable than the other two deployment models.

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"North America to dominate the market during the forecast period"

In 2018, North America is expected to account for the largest share of the healthcare business intelligence market. This market is also expected to grow at the highest CAGR during the 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.

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%

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List of Companies Profiled in the 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)
BOARD International (Switzerland)

Research Coverage:

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.

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This release was published on openPR.