Market Overview:
The need to reach effective and profitable decisions in the business sector is essential to achieve growth. Reports that review the healthcare industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities. The market is expected to tap into the favorable CAGR of 15.5 % in the course of the forecast period.
The need to observe current, historical and futuristic views of business operations is expected to motivate the healthcare business intelligence market. The benefit of financial, clinical, operational, and non-traditional data in making prudent decisions is the main factor promoting the healthcare business intelligence market. The presence of factors such as the appearance of big data in the healthcare industry, increasing demand to curb healthcare spending is expected to motivate the Healthcare Business Intelligence Market in the upcoming years.
Competitive Analysis
The level of competitiveness of the environment in the market is expected to be reasonable as there is ample scope for progress. The market is anticipated to display positive signs for market growth in the approaching period. The demographic changes are expected to show a positive effect on the progress of the market. The surge in e-commerce activities is expected to motivate the market in the upcoming years. The fiscal policies that are in effect in the market are expected to lead to a robust pace of development. The leverage created by the companies by deploying marketing strategies and activities is further enhancing the expansion of the market. The enhancement of production facilities is expected to motivate the market’s progress. The trade liberalization in the market and technological developments are expected to encourage the development of the market in the approaching years.
Major Players:
• Microsoft Corporation
• International Business Machines Corporation
• SAP SE
• Oracle Corporation
• SAS Institute
• Tableau Software
• MicroStrategy Incorporated
• Qlik Technologies
• Information Builders
• Sisense
• Yellowfin International Pty Ltd
• BOARD International S.A.
Segmental Analysis
• The segmental evaluation of the healthcare business intelligence market has been carried out on the basis of end-user, component, deployment model, function, application, and region.
• Based on component, the healthcare business intelligence market has been segmented into software, platforms, and services.
• Based on the function, the healthcare business intelligence market has been segmented into performance management, OLAP and visualization, and query and reporting. The segmentation of the healthcare business intelligence market based on application comprises of clinical analysis, financial analysis, and operational analysis. Based on the deployment model, the healthcare business intelligence market has been segmented into on-premise, hybrid, and cloud-based.
• On the basis of end-user, the healthcare business intelligence market has been segmented into providers, payers, and others.
• By region, the healthcare business intelligence market has been segmented into Europe, Asia-Pacific, the Americas, and the Middle East & Africa.
Detailed Regional Analysis
The regional analysis of the healthcare business intelligence market states that the Americas is leading the healthcare business intelligence market owing to the incidence of service and software and software providers, accessibility to high-quality health services, increasing implementation of healthcare intelligence solutions and services by healthcare enterprises in Canada and the US. The speedy implementation of progressive medical technologies, rising healthcare industries, increasing internet of things (IoT) connectivity, growing demand for predictive systems and electronic health record (EHR) software in Spain, the UK, Germany, France have pushed the European region to the position of the second biggest region in the healthcare business intelligence market.
The Asia Pacific region is expected to witness the fastest development throughout the forecast period due to the rising diffusion of smartphones and internet in the population, growing investment in the healthcare infrastructure, progress in algorithm advancement, and machine learning. Furthermore, Indian businesses are moving from tactical, traditional, and tool-centric data and analytical projects to planned, advanced, and architecture-centric data and analytics programs, which is supporting the market growth profitably. The market of healthcare business intelligence in the Middle East & African region is anticipated to register moderate market development from 2018 to 2023 due to the incidence of digital transformation advantages and expenditure on business intelligence and analytics in South Africa and the United Arab Emirates (UAE). The cloud-based deployments of enterprise application solutions are adding momentum to growth in the Gulf Cooperation Council (GCC) region as it offers scalability, flexibility, and cost benefits to