The global healthcare business intelligence market is anticipated to reach value of USD 15.14 Billion by 2027, according to a current analysis by Emergen Research. The global healthcare business intelligence(BI) market is expected to expand significantly during the forecast period, owing to increasing demand for improved claim management solutions in the healthcare industry. Rising demand for better cost management solutions is likely to drive the global healthcare business intelligence market further in the near future. Moreover, rising adoption of data-driven decision-making solutions in the healthcare industry is also expected to drive the global healthcare BI market during the forecast period.
The Healthcare Business Intelligence Market report offers details about market size, market share, revenue growth, and CAGR during the forecast period. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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The leading market contenders listed in the report are:
Domo Inc, Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc, Infor Inc., SAP SE, com, Inc., Oracle Corporation, MicroStrategy Incorporated
Key Highlights of Report
- In August 2020, Knarr Analytics LLC was acquired by Qlik Technologies Inc. The deal would improve Qlik’s Cloud Platform Active Intelligence capability, which offers comprehensive insights to enable data-driven activities.
- During the forecast period, the software segment is expected to retain the largest market share, expanding at a CAGR of 14.7%. Business intelligence software helps healthcare organizations collect, interpret, and process data into appropriate business information, which is projected to fuel the segment during the forecast period.
- During the forecast period, the cloud-based segment is projected to dominate the market. Cloud-based business intelligence applications offer improved accessibility, enhanced data protection, easy implementation, and simplified data analysis, which is likely to promote growth of the segment during the forecast period.
- During the forecast period, the online analytical processing (OLAP) & visualization segment is likely to lead the market. The online analytical processing (OLAP) method solves users’ issues and offers quick and understandable accessibility to comprehensive data and related metrics for analysis and reporting purposes.
- During the forecast period, the financial analysis segment is expected to dominate the market. The financial analysis application offers functionalities such as cost management, sales and profitability management, balance sheet and cash flow management, and claims management.
- Due to higher medical costs, coupled with increasing need to optimize memberships and minimize false claims, the healthcare payer segment is projected to dominate the market during the forecast period
- North America is anticipated to lead the global market during the forecast period. Growing use of healthcare business intelligence tools by healthcare providers to optimize clinical outcomes and decrease expenses is expected to fuel the market in the region during the forecast period.
The research study examines historic data from 2018 and 2020 to draw forecasts until 2030. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
The report bifurcates the Healthcare Business Intelligence market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2017–2027)
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Function Outlook (Revenue, USD Billion; 2017–2027)
- Analytical Performance Management
- Query & Reporting
- Online Analytical Processing (OLAP) & Visualization
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Healthcare Business Intelligence Market report:
- The latest report comprehensively studies the global Healthcare Business Intelligence market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.