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Healthcare Business Intelligence Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Microsoft Corporation, Oracle Corporation, Tableau Software, SAP SE, IBM Corporation
Healthcare Business Intelligence Market Trends
The Business Research Company offers in-depth market insights through Healthcare Business Intelligence Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The healthcare business intelligence market size has grown rapidly in recent years. It will grow from $8.92 billion in 2023 to $10.32 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to regulatory compliance, increased data integration, cost control, population health management, quality improvement.
The healthcare business intelligence market size is expected to see rapid growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to telehealth and remote monitoring, interoperability, concern over cybersecurity, pandemic preparedness, precision medicine. Major trends in the forecast period include real-time data analytics, predictive analytics, data security and privacy, cloud-based bi solutions, ai and machine learning.
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Market Segmentation:
The main components of healthcare business intelligence are platforms, software, and services. A platform refers to software that helps healthcare businesses gather, understand, and isualizee their data. The functions include query and reporting; OLAP and visualization; performance management; hybrid models; and cloud-based models. The mode of delivery includes on-premise, hybrid, and cloud-based models, applied in financial analysis, clinical data analysis, patient care analysis, and other applications used by payers, healthcare providers, and other end-users.
Major Driver - Surge In Healthcare Spending Fuels Growth Of Healthcare Business Intelligence Market
The rise in healthcare spending is expected to propel the growth of the healthcare business intelligence (BI) market going forward. Healthcare spending refers to all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid designated for healthcare spending. Healthcare business intelligence offers various benefits for the improvement of patient safety and other healthcare improvements. As a result, a rise in healthcare spending increases the demand for the healthcare business intelligence market. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Therefore, the rise in healthcare spending is driving healthcare business intelligence market.
Competitive Landscape:
Major companies operating in the healthcare business intelligence market include Microsoft Corporation, Oracle Corporation, Tableau Software, SAP SE, IBM Corporation, QlikTech International AB, Sisense Inc, SAS Institute Inc, BOARD International, Yellowfin BI, MicroStrategy Incorporated, Infor Inc, Domo Inc., Information Builders, Perficient Inc., Tibco Software Inc., Panorama Software Inc, Definitive Healthcare, Dimensional Insight Inc., Looker Data Sciences Inc., GoodData Corporation, Phocas Software, Pyramid Analytics Inc., Dundas Data Visualization Inc., Alteryx Inc., ThoughtSpot Inc., Rapid Insight Inc., Aptean Inc., Health Catalyst Inc., Arcadia.io Inc., MedeAnalytics Inc., McKesson Corporation, Optum Inc., Cerner Corporation, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Epic Systems Corporation, GE Healthcare, Philips Healthcare, Siemens Healthineers, Change Healthcare
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Top Trend - Innovative Technology Expand The Healthcare Business Intelligence Market
Technological advancement is a key trend gaining popularity in the healthcare business intelligence market. Companies operating in business intelligence are developing innovative solutions to strengthen their market. For instance, in July 2022, Experity, a Brazil-based software services company, launched Experity Business Intelligence (BI). The new module is within Experity's electronic medical record and practise management solution and features pre-built clinical, operational, and financial dashboards for urgent care.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Healthcare Business Intelligence Market Characteristics
3. Healthcare Business Intelligence Market Trends And Strategies
4. Healthcare Business Intelligence Market - Macro Economic Scenario
5. Healthcare Business Intelligence Market Size And Growth
…..
27. Healthcare Business Intelligence Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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