During the forecast period healthcare providers overtake healthcare payers significantly in terms of growth in the market. Conventional business intelligence leads the global healthcare business intelligence market, by technology, when it comes to revenue. Although mobile business intelligence or cloud business intelligence pose a huge market growth potential due to rising usage of mobile by the healthcare society, and growing demand of health systems and hospitals for a more cheaper, accessible, flexible, scalable and agile form of business intelligence in this expenditure constraint healthcare environment.
Rising demand for decline in healthcare costs coupled with federal healthcare mandates enhancing the usage of business intelligence solutions are some of the factors which are expected o drive the market. Even though, the market is expected to grow there are some factors restraining the growth such as lack of cross-functional skilled resources, complexity of it systems and lack of flexibility.
The global healthcare business intelligence market is mainly segmented by function, technology, application and end user. On the basis function the healthcare business intelligence market can be segmented into query and reporting tools, online analytical processing (OLAP) and visualization tools and performance monitoring/management and alerts. Furthermore, when is market is segmented on the basis of technology it includes traditional business intelligence, mobile business intelligence and cloud business intelligence.
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On the basis application the healthcare business intelligence market can be segmented into clinical care optimization (quality and safety), physician performance monitoring and benchmarking, financial analysis, regulatory compliance and reporting and operational performance and cost management. The financial analysis is further sub-segmented into claims analysis and revenue cycle. On a similar note, the operational performance and cost management is sub-segmented into service line analysis and supply chain management, human and resource capital management, marketing analysis. Lastly the market is segmented on the basis of end user into payers, hospitals, providers, physician practices, IDN, ACO, MCO and HIE.
Mobile BI and cloud BI is expected to record highest growth among the healthcare business intelligence market in the forecast period. Their constructive growth is endorsed to the growing swing of healthcare organizations towards cloud computing representation and increasing usage of Smartphone by the medical society. Clinical application is expected to be the major driver for the market growth in the forecasted period. Among all functions, online analytical processing (OLAP) and visualization tools market is expected to have an edge over reporting and monitoring tools.
Based on geography, North America, especially the U.S. dominates the market and is also expected to grow at the highest CAGR during the forecast period. Asia Pacific is emerging to be an opportunistic market with growing adoption of healthcare and information Technology (HCIT), and consequently business intelligence tools. In Japanese market a variety of encouraging government initiatives are designed and developed. These new IT reform strategy, e-Japan policy and iJApan Strategy 2015 are some of the government initiatives which are focusing on escalation of healthcare service.
Leading players of the healthcare business intelligence market are Information Builders, IBM Corporation, MicroStrategy, Microsoft Corporation, Oracle Corporation, SAP AG, Qlik Technologies, Inc., SAS Institute, Inc., Tableau Software , TIBCO Software Inc., and other players such as CitiusTech, Accenture, Computer Sciences Corporation, Jaspersoft, Dimensional Insight, Klipfolio Inc., Agilum Healthcare Intelligence, Perficient, Inc., Siemens Healthcare, , Infosys, Tata Consultancy Services, Hexaware Technologies Limited and Wipro Limited among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
– North America
– Asia Pacific
– Rest of the World
This report provides comprehensive analysis of
– Market growth drivers
– Factors limiting market growth
– Current market trends
– Market structure
– Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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