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Increasing demand for improved claim management solutions in the healthcare industry and rising demand for better cost management solutions
— Emergen Research
VANCOUVER, BC, CANADA, May 15, 2023 /EINPresswire.com/ — 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.
Healthcare Business Intelligence (BI) refers to the utilization of data analytics and reporting tools in the healthcare industry to derive valuable insights and support informed decision-making. It involves the collection, integration, analysis, and visualization of large volumes of healthcare-related data from various sources such as electronic health records (EHRs), claims data, financial records, and patient satisfaction surveys. By employing BI techniques, healthcare organizations can gain a comprehensive understanding of their operations, identify trends, and discover patterns that can drive improvements in patient care, operational efficiency, and financial performance.
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The Healthcare Business Intelligence industry is segmented in this report based on manufacturers, regions, product types, and applications. The study can help understand the industry and define progress strategies for the company / key players. Provides a detailed analysis of new entrants or existing competitors in the Healthcare Business Intelligence industry, ranging from industry positioning and marketing channels to potential growth strategies.
Domo Inc., Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc., Infor Inc., SAP SE, Salesforce.com, Inc., Oracle Corporation, and 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.
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Emergen Research has segmented the global healthcare business intelligence market on the basis of component, deployment, function, application, end-use, and region.
Component Outlook (Revenue, USD Billion; 2017–2027)
Services
Software
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Cloud-based
On-premises
Hybrid
Function Outlook (Revenue, USD Billion; 2017–2027)
Analytical Performance Management
Query & Reporting
Online Analytical Processing (OLAP) & Visualization
Application Outlook (Revenue, USD Billion; 2017–2027)
Clinical Analysis
Financial Analysis
Patient Care Analysis
Operational Analysis
End-use Outlook (Revenue, USD Billion; 2017–2027)
Healthcare Payers
Healthcare Providers
Others
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The report covers brief analysis of the impact of the Covid-19 outbreak on the Healthcare Business Intelligence Market. The prolonged lockdown and disrupted supply chain across coupled with strict restrictions on international trade have a severe impact on the Healthcare Business Intelligence Market growth. The Covid-19 pandemic increased the prices of raw materials and changed customer preferences.
What Questions Should You Ask before Buying a Market Research Report?
• How is the Healthcare Business Intelligence market evolving?
• What is driving and restraining the Healthcare Business Intelligence market?
• How will each Healthcare Business Intelligence submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2027?
• How will the market shares for each Healthcare Business Intelligence submarket develop from 2020 to 2027?
• What will be the main driver for the overall market from 2020 to 2027?
• Will leading Healthcare Business Intelligence markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2027 and which geographical region will lead the market in 2027?
• Who are the leading players and what are their prospects over the forecast period?
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