The global Healthcare Business Intelligence Market is forecasted to attain a valuation of USD 15.14 Billion by 2027, expanding at an annual rate of 14.6%, according to a recent report by Emergen Research. The market is predicted to snowball exponentially during the projected timeframe accredited to the rising requirement for advanced claim management solutions in the healthcare sector. Additionally, the growing demand for improved cost management solutions is anticipated to boost the market growth.
Moreover, accelerated adoption of data-driven decision-making solutions in the healthcare sector is also expected to largely contribute to market growth. However, the expensiveness of business intelligence solutions is predicted to impede the market growth.
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Key Highlights from the Report:
- The software segment is predicted to occupy the largest share of the market, expanding at an annual growth rate of 14.7% during the projected timeline. The significant growth can be accredited to the benefits of business intelligence software in helping organizations gather, interpret, and process data into actionable business solutions.
- The cloud-based segment is estimated to lead the market growth during the projected timeframe due to its enhanced accessibility, improved data protection, easy implementation, and streamlined data analysis.
- The online analytical processing (OLAP) and visualization segment is predicted to account for the industry’s largest share. The growth can be attributed to the quick ability of online analytical processing (OLAP) methods to solve issues and offer reliable access to extensive data and related metrics for analysis and reporting.
- The financial analysis segment is projected to lead the market growth during the projected timeframe. The financial analysis applications offer a plethora of functionalities, such as cost management, cash flow management, claims management, and sales and profitability management.
- The healthcare payer segment is projected to dominate the industry share during the estimated period due to increased medical expenses and the rising need to optimize memberships and reduce false claims.
- North America is forecasted to command the market growth during the projected timeline accredited to the increasing application of healthcare business intelligence solutions to optimize the clinical outcomes and reduce healthcare expenditure.
- Major participants of the industry include Oracle Corporation, MicroStrategy Incorporated, Domo Inc., Sisense Inc., Infor Inc., Microsoft Corporation, SAP SE, Qlik Technologies Inc., Salesforce.com, Inc., and Tableau Software.
- Qlik Technologies Inc. acquired Knarr Analytics LLC in August 2020. The acquisition is set to expand Qlik’s Cloud Platform Active Intelligence capability, which provides extensive insights to boost data-driven activities.
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For the purpose of this report, Emergen Research has segregated 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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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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