Press release
Healthcare Business Intelligence (BI) Market to Register Stable Growth owing to Increasing Demand for Data-Driven Decision Making
The SNS Insider report indicates that the healthcare business intelligence (BI) market achieved a valuation of USD 7.27 billion in 2022, and it is projected to attain USD 20.32 billion by 2030, with a compound annual growth rate (CAGR) of 13.7% during the forecast period spanning from 2023 to 2030.
Healthcare Business Intelligence leverages data-driven insights to drive transformative changes in the healthcare industry. By harnessing the power of data, healthcare organizations can enhance patient care, streamline operations, and adapt to the ever-changing landscape of modern healthcare, ultimately improving the overall health and well-being of the population they serve.
Key Players Covered in Healthcare Business Intelligence (BI) market report are: Qlik, SAP SE, TIBCO Software, SAS Institute, Tableau Software, Yellowfin International Pty Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Information Builders, Micro Strategy and Other Players
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Market Analysis
The healthcare business intelligence (BI) market has experienced significant growth over the past decade and is expected to continue its upward trajectory. The market's expansion is primarily driven by the increasing adoption of digital health technologies, rising demand for efficient healthcare delivery, and the need to streamline complex data systems. BI tools empower healthcare organizations to unlock valuable insights from vast amounts of structured and unstructured data, ranging from patient records, medical images, electronic health records (EHRs), to real-time data from Internet of Things (IoT) devices, wearables, and telehealth solutions.
Segmentation Analysis
The healthcare business intelligence (BI) market is witnessing a substantial shift towards data-driven decision-making, and Business Intelligence solutions are becoming indispensable tools for healthcare organizations. The on-premise segment and healthcare manufacturers segment stand out as dominant players in this rapidly evolving market. On-premise BI solutions offer heightened security, customization, and compliance capabilities, ensuring that sensitive healthcare data is handled with the utmost care.
Healthcare Business Intelligence (BI) Market Segmentation as Follows:
By Component Type
• Software
• Services
By Mode of Delivery
• On-premise
• Cloud-based
• Hybrid
By Application
• Financial Analysis
• Operational Analysis
• Clinical Analysis
• Patient Care
By End-use
• Payers
• Healthcare Provider
• Healthcare Manufacturers
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Impact of Recession
While recessions can present challenges to the healthcare business intelligence (BI) market, they also bring opportunities for growth and innovation. As healthcare organizations become increasingly data-driven and prioritize value-based care, the demand for advanced BI solutions will persist. Moreover, adapting to the evolving healthcare landscape, including the integration of telehealth data, will be crucial for BI vendors to thrive during economic downturns.
Regional Status & Analysis
North America's dominance in the healthcare business intelligence (BI) market is a result of its technological prowess, collaborative ecosystem, and supportive regulatory framework. With a focus on data-driven decision-making, population health management, and seamless integration of BI tools with EHRs, North American healthcare organizations are at the forefront of leveraging data to improve patient outcomes and optimize their operations. As the industry continues to evolve, North America is poised to maintain its position as the frontrunner in the global healthcare BI market.
Frequently Asked Questions/ Key Reasons to Purchase this Report
What is the projected outlook for healthcare business intelligence (BI) market growth?
- The market is projected to exceed USD 20.32 billion by the year 2030.
What are the major factors influencing the healthcare business intelligence (BI) market?
- As healthcare providers increasingly recognize the value of analytics, the demand for BI tools that facilitate analytics-driven decision-making rises in parallel.
Who are the leading players in the healthcare business intelligence (BI) market?
- Qlik, SAP SE, Oracle Corporation, Microsoft Corporation, Tableau Software, Yellowfin International Pty Ltd., TIBCO Software, SAS Institute, IBM Corporation, Information Builders, Micro Strategy.
Conclusion
The market holds immense promise for the future of data-driven healthcare. With a focus on overcoming challenges, fostering interoperability, and nurturing a skilled workforce, the healthcare industry can unlock the full potential of BI tools. By leveraging data-driven insights, healthcare providers can optimize operations, enhance patient care, and ultimately shape a healthier and more efficient healthcare ecosystem. As the industry embraces the transformative impact of BI, the future of healthcare looks brighter than ever before.
Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Market Dynamics
Chapter 4. Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter's 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Healthcare Business Intelligence (BI) Market Segmentation, By Component Type
Chapter 9 Healthcare Business Intelligence (BI) Market Segmentation, By Mode of Delivery
Chapter 10 Healthcare Business Intelligence (BI) Market Segmentation, By Application
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
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Akash Anand - Head of Business Development & Strategy
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About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.
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