Vancouver, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The global healthcare business intelligence(BI) market size was USD 5.40 Billion in 2019 and is expected to reach USD 15.14 Billion by 2027, at a CAGR of 14.6% during the forecast period, 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.
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.
- Key market participants include Domo Inc., Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc., Infor Inc., SAP SE, Salesforce.com, Inc., Oracle Corporation, and MicroStrategy Incorporated
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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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- Regional Outlook (Revenue, USD Billion; 2017–2027)
- 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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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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