Healthcare IT Consulting Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Allscripts Healthcare Solutions Inc., Cerner Corporation, Cognizant Technology Solutions Corporation

"The healthcare it consulting market size has grown rapidly in recent years. It will grow from $54.55 billion in 2023 to $64.59 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to regulatory compliance, ehr implementation, interoperability, security and privacy, population health management.

The healthcare it consulting market size is expected to see rapid growth in the next few years. It will grow to $129.19 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to telemedicine growth, genomics and precision medicine, cybersecurity and data protection, pandemic preparedness, healthcare equity. Major trends in the forecast period include digital transformation strategies, interoperability solutions, data analytics and ai integration, cloud adoption and hosting, health information exchange (hie).

Market Overview -
Healthcare IT consulting refers to a consulting firm that acts as a contracted third-party advisor for a given player in the healthcare sector. These are helpful to make better decisions and improve the profit potential. The healthcare IT consulting is used to optimize efficiency, revenue generation, and structural improvements with various specializations emerging within the healthcare consulting sector such as strategic consulting, technology implementation, HR and people management, improvements in patient care, better staff communication and workflow, implementing competitive practices.

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Rising Digitization In Healthcare Fuels Expansion Of The Healthcare It Consulting Market
Growing digitalization in healthcare is expected to propel the growth of the healthcare IT consulting market going forward. Digitization refers to the method of converting information into a digital format. Due to the increase in the adoption of digitalization such as analytics and cloud services in healthcare, healthcare professionals require healthcare IT consulting services to understand and access digital solutions. For instance, according to StockApps.com, a Spain-based financial educational hub, the global digital health sector is expected to earn $149.9 billion in 2022, a 16.3% growth as compared to $128.80 billion in 2021. Therefore, the growing digitization in healthcare is driving the growth of the healthcare IT consulting market.

Competitive Landscape -
Major companies operating in the healthcare it consulting market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation, Tata Consultancy Services Limited, General Electric Company, Epic Systems Corporation, Siemens Healthineers AG, McKesson Corporation, Koninklijke Philips N.V., HCL Technologies Limited, Hexaware Technologies Limited, Larsen & Toubro Infotech Limited, Microsoft Corporation, Wipro Limited, Oracle Corporation, Infosys Limited, Bain & Company Inc., The Boston Consulting Group Inc., Ernst & Young Global Limited, Genpact Limited, KPMG International Limited, McKinsey & Company Inc., Nordic Consulting Group A/S, PA Consulting Group Limited, Pivot Point Consulting LLC, PricewaterhouseCoopers International Limited, ScienceSoft USA Corporation, SIS International Group Inc., Stella Rising LLC, TechAhead Software Pvt. Ltd., Veraqor Inc., ZS Associates India Pvt. Ltd., GeBBS Healthcare Solutions Inc., Optum Inc., Huron Consulting Group Inc., The Chartis Group LLC

Technology Advancements Transforming The Healthcare It Consulting Market
Technological advancement is a key trend gaining popularity in the healthcare IT consulting market. Major companies operating in the healthcare IT consulting market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Snowflake, a US-based cloud computing data cloud company launched healthcare SaaS, a cloud-based, data-sharing and consulting services platform. It integrates the company's analytics, core data warehousing, and business intelligence offerings with on-demand consulting services. The new cloud service also integrates machine learning and other applications to help healthcare companies in reducing the time to implement applications.

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Key Segments -
The healthcare it consulting market covered in this report is segmented -
1) By Type: HCIT Change Management, Healthcare Business Process Management, HCIT Integration And Migration, Healthcare or Medical System Security Set-Up And Risk Assessment, Healthcare Enterprise Reporting And Data Analytics, Other Types
2) By Component: Services, Software, Hardware
3) By End User: Hospitals And Ambulatory Care Centers, Diagnostic And Imaging Centers, Public And Private Payers, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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