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Healthcare BI Platform Market

10-10-2017 08:47 AM CET | IT, New Media & Software

Press release from: TMR

Transparency Market Research estimates that global market for healthcare BI platform will exhibit an impressive CAGR of 11.7% over the period between 2015 and 2023, rising form a net worth of US$1.5 bn in 2014 to an opportunity of US$3.9 bn by 2023.

North America Market to Lead the Way

From a geographical standpoint, the market for healthcare BI platform in North America held the dominant 47.8% of the global market in 2014. The rising healthcare expenditure, pressure to reduce costs, and the well-established and digitized healthcare infrastructure are the key factors attributed to the strong demand for BI platforms in the region. The region is also expected to retain its top spot over the report’s forecast period.

In terms of deployment, the segment of on-premise deployment accounted for the dominant share in the overall market in 2014 in terms of revenue contribution. While the segment will continue to account for a significant share of the market owing to demand from consumers concerned about the safety of business- and patient-critical data, the cloud segment will see the most promising growth owing to its benefits such as low cost, high speed of deployment, and ease of use.

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In the increasingly competitive vendor landscape for the global healthcare BI platform market, the rising number of solutions and service providers are focusing on expansion across emerging regional markets and the leveraging their capabilities to exploit opportunities offered by the cloud platform, observes Transparency Market Research in a recent report. The number of strategic collaborations with peers and healthcare organizations have increased in the market in the past few years as companies seek to expand their product portfolios and consumer bases. In the near future, the market is expected to witness the emergence of companies offering pure cloud-based services and a number of old vendors are expected to actively move towards strengthening their cloud-based services.

Some of the leading companies in the market presently are Microsoft Corporation, OpenText Corporation, Oracle Corporation, IBM Corporation, SAP SE, SAS Institute, Inc., and Information Builders.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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