Healthcare Business Intelligence Market Size, Industry Trends, Growth, Global Research Report 2021-2027

The global Healthcare Business Intelligence market size is projected to reach US$ 8379.9 million by 2027, from US$ 4205.7 million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period 2021-2027. The increasing adoption of this software by hospitals, health providers, payers, and life sciences manufacturers to convert their data into useful dashboards and graphs in order to make business-critical decisions. The emergence of cloud-based business intelligence (BI) solutions, rising adoption of mobile-based BI solutions along the increasing requirement for better cost management are a few key factors boosting the growth.

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End-users benefit from the dashboard's interactive graphs, which allow them to manage revenues, patient care status, service rate comparisons, patient admission patterns, and simple access to patient data by age, gender, and Emergency Room (ER) visits without having to sift through endless data. End-users can use graphs in BI-enabled analytics to make data-driven decisions that cut operating costs, improve service. These features offered by BI solutions are expected to drive the growth of the healthcare BI market.

The rise of big data is expected to provide a lucrative growth opportunity for the healthcare business intelligence market. These solutions help users increase productivity and efficiency in a variety of applications, including health care, financial management, workforce management, and administration.

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The industry has been revolutionized as cloud computing has become more widely adopted around the world. The widespread availability of cloud-based analytics and business intelligence tools, as well as their numerous uses, is altering the industry. Manufacturers and providers are focusing on improving patient care and revenue optimization, which is driving up demand for cloud-based software. The adoption of cloud-based healthcare business intelligence solutions by providers to improve revenue cycle management, supply chain management, and performance management, is expected to drive the growth of the healthcare BI market.

Based on application, the financial analysis segment is expected to be the most lucrative during the forecast period. The market for financial analysis is predicted to rise significantly during the projected period, owing to payers' increased focus on early identification of fraud and lowering avoidable expenditures.

Based on region, North America is expected to be the most lucrative segment. The rising adoption of healthcare intelligence solutions and services by healthcare providers (particularly in the US) to provide better quality treatment and decrease healthcare costs is a prominent driver driving market expansion in the North American industry.

Healthcare Business Intelligence Market by Type

o Traditional BI
o Cloud BI
o Mobile BI

Healthcare Business Intelligence Market by Application

o Clinical
o Financial Analysis
o Operational Performance & Cost Management

Top Major Players in the Healthcare Business Intelligence Market

o IBM Corporation
o Information Builders
o Microsoft Corporation
o MicroStrategy
o Oracle Corporation
o Qlik Technologies, Inc
o SAP AG
o SAS Institute, Inc
o TIBCO Software Inc
o MicroStrategy
o Oracle Corporation
o Siemens Healthcare
o Perficient, Inc.
o Others

Similar Reports:

Healthcare Analytics Market: https://reports.valuates.com/market-reports/ALLI-Manu-2W72/healthcare-analytics

mHealth Apps Market: https://reports.valuates.com/market-reports/QYRE-Othe-1T438/mhealth-apps

Healthcare IT Market: https://reports.valuates.com/market-reports/ALLI-Manu-2F1/healthcare-it

Healthcare Consulting Services Market: https://reports.valuates.com/market-reports/QYRE-Auto-10D4414/healthcare-consulting-services

Telemedicine:
https://reports.valuates.com/market-reports/ALLI-Manu-0T60/telemedicine

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