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Big Data Analytics in Healthcare Market to Grow at a CAGR of 19.1% to Reach USD 67.82 Billion by 2025

11-25-2022 01:34 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Big Data Analytics in Healthcare Market to Grow at a CAGR of 19.1%

Allied Market Research published a new report, titled, "Big Data Analytics in Healthcare Market to Grow at a CAGR of 19.1% to Reach USD 67.82 Billion by 2025." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Increase in adoption of big data in the healthcare industry, rise in demand for analytics solution to aid population health management, and shift in preference from a pay-for-service model to a value-based care model propel the growth of the big data analytics in healthcare market. However, issues related to data security and dearth of skilled workforce is expected to impede the growth to certain extent. On the other hand, growing inclination toward cloud-based analytics solutions and emerging trend in healthcare such as telehealth and innovations in genomics are anticipated to offer lucrative opportunities to the market.

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The global big data analytics in healthcare market is segmented on the basis of component, deployment, analytics type, application, end user, and region. Based on component, the market is bifurcated into software and services. The software segment accounted for more than two-thirds of the total market share in 2017 and is projected to maintain its dominance through 2025. However, the services segment is projected to register the fastest CAGR of 21.3% during the forecast period.

Based on deployment, the market is divided into on-premise and cloud. The on-premise segment held the largest share in 2017, accounting for 59.3% of total share and is expected to continue its dominance throughout the forecast period. On the other hand, the cloud-based deployment model is anticipated to register the fastest CAGR of 20.8% during the forecast period.

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Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across North America dominated the market in 2017, holding more than half of the total market share. On the other hand, the region across Europe is projected to portray the highest CAGR of 21.8% during the forecast period.

The key players analyzed in the report include Cerner Corporation, Dell EMC, Allscripts, Epic System Corporation, Microsoft, Optum, Inc., International Business Machines (IBM) Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, and GE Healthcare.

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Key Findings of the Market:

• By component, services segment is expected to exhibit significant growth in the global big data analytics in healthcare market during the forecast period.

• In 2017, the on-premise segment accounted for the highest revenue in the deployment type category.

• Based on application, the clinical analytics segment generated the highest revenue in 2017.

• Based on end user, hospitals & clinics segment generated the highest revenue in 2017.

• Based on region, North America dominated the overall big data analytics in healthcare market share in 2017.

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Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Other Trending Report:

• Big Data as a Service Market

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About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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