Vancouver, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The global healthcare business intelligence market is anticipated to reach value of USD 29.93 Billion by 2032, according to a current analysis by Emergen Research. The global healthcare business intelligence market is projected to expand substantially during the forecast period. Substantial market growth can be attributed to the growing need for rapid decision-making solutions in the healthcare industry. The global healthcare business intelligence market is also likely to be driven by the increasing demand for data mining applications to provide better patient care. Moreover, the rising number of patient registries is also expected to augment the global healthcare business intelligence market during the forecast period.
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However, complications associated with business intelligence solutions are anticipated to restrain the global healthcare business intelligence market during the forecast period.
Segments Covered in the report.
| Report Details | Outcome |
| The market size in 2019 | USD 5.40 Billion |
| CAGR (2023–2032) | 14.6% |
| The revenue forecast in 2032 | USD 29.93 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016–2018 |
| Forecast period | 2023–2032 |
| Quantitative units | Volume in tons, revenue in USD Billion and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, deployment, function, application, end-use, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Domo Inc, Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc, Infor Inc., SAP SE, Salesforce.com, Inc., Oracle Corporation, and MicroStrategy Incorporated |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for healthcare business intelligence is fragmented, with a substantial number of large- and medium-sized players accounting for a significant share of the global market. Some of the top players operating in the healthcare business intelligence market are:
-
- Domo Inc
- Tableau Software
- Sisense Inc.
- Microsoft Corporation
- Qlik Technologies Inc
- Infor Inc.
- SAP SE
- Salesforce.com, Inc.
- Oracle Corporation
- MicroStrategy Incorporated
In October 2020, Blendr.io, acquired by Qlik Technologies Inc. Blendr.io's robust iPaaS platform would significantly extend functionality of Qlik's end-to-end platform to enable consumers to leverage on data and digital procedures quite efficiently and effortlessly.
In May 2019, Periscope, Inc. was acquired by Sisense Inc. With this acquisition, Sisense would have access to a larger market with the help of Periscope’s data engineers and data scientists.
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Key Highlights of Report
- In January 2020, RoxAI Ltd. was acquired by Qlik Technologies Inc. This acquisition would strengthen the AI capabilities of Qlik Sense with automated notifying and intelligent automation.
- During the forecast period, the services segment is anticipated to expand at a steady pace. Business intelligence as a service approach helps a healthcare organization to collect data for the organization's current system and consolidate this data into a highly powerful data center that will provide the customer to manage data from the data center with a simpler front-end.
- During the forecast period, the on-premises segment is projected to expand at a sluggish pace. Business intelligence systems deployed on-site possess flexibility to be customized according to organizational requirements. The healthcare company can also regulate data protection standards for the on-premises business intelligence solution. This is anticipated to fuel the segment during the forecast period.
- During the forecast period, the patient care analysis segment is expected to register the most rapid CAGR of 14.8%. A business intelligence software can collect and interpret all the data in a visual format, offering valuable insights into every aspect of the patient’s health. This eliminates the need for repetitive checks, which assists in saving money.
- During the forecast period, the Asia Pacific market is expected to register the highest growth rate, due to increasing awareness about mobile business intelligence solutions and adoption of technologically advanced business intelligence solutions in countries such as China, Japan, and India. The market in the region is expected to be further fueled by increasing awareness about business intelligence solutions among healthcare providers and organizations, due to increasing government initiatives, in the near future.
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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; 2019–2032)
- Services
- Software
- Deployment Outlook (Revenue, USD Billion; 2019–2032)
- Cloud-based
- On-premises
- Hybrid
- Function Outlook (Revenue, USD Billion; 2019–2032)
- Analytical Performance Management
- Query & Reporting
- Online Analytical Processing (OLAP) & Visualization
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Clinical Analysis
- Financial Analysis
- Patient Care Analysis
- Operational Analysis
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Healthcare Payers
- Healthcare Providers
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- 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
- UAE
- Rest of MEA
- North America
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