The global healthcare business intelligence market size is expected to reach USD 10.64 billion by 2025, registering a CAGR of 12.8% during the forecast period, according to a new report by Grand View Research, Inc. Increase in adoption of data-driven decision making, emergence of cloud based business intelligence (BI) solutions for healthcare industry, increased focus to reduce spending, and emergence of mobile-based healthcare BI solutions are the key factors contributing to the growth. Growing requirement of business intelligence tools to reduce costs for operational performance, claims, and clinical analysis is another major factor positively impacting the market.
Factors, such as the constantly increasing volume of digital information and data sources, complexity of data generated in healthcare organizations, coupled with growing need for the advanced business intelligence solutions to support decision-making are boosting the demand for business intelligence solutions and services. The massive amounts of unstructured and structured data generated by medical organizations and institutions is critical to manage, thus there is huge requirement for advanced healthcare BI software by hospitals and other healthcare organizations.
In order to gain insights about patient care and satisfaction, clinical operations, labor distribution, physician practices, and administration and management; hospitals and other healthcare facilities require data visualization and predictive modeling tools, which in turn is increasing demand for healthcare business intelligence software among these end users.
Increasing adoption of cloud-based healthcare BI software solutions coupled with high dependency of healthcare on digital technology to operate functions of a complex healthcare system is further boosting the adoption of BI software over the past years. For instance, KenSci Clinical Analytics, a platform designed by Microsoft to predict clinical and operational risk involved in a healthcare facility to improve health outcomes and reduce operational costs.
“Read Report Summary, Toc, Market Segmentation, Research Methodology, Request a Free Sample“ Healthcare Business Intelligence Market Click the link below:
www.grandviewresearch.com/industry-analysis/healthcare-business-intelligence-market
Request a Free Sample Report Healthcare Business Intelligence Market” Click the link below:
www.grandviewresearch.com/industry-analysis/healthcare-business-intelligence-market/request/rs1
Further key findings from the report suggest:
-
Software emerged as the largest product segment with a revenue share of 68.4% in 2018
-
Cloud-based mode of delivery accounted for the largest revenue share in 2018 and is expected to register the fastest CAGR over the forecast period
-
Healthcare payers emerged as the leading end use segment, however healthcare providers end use segment is expected to grow at a significant CAGR over the forecast period
-
Market players, such Oracle Corporation; SAP; Microsoft; Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; and Looker Data Sciences, Inc. are focused on increasing collaboration with powerful analytics platform providers to gain competitive edge in the market
Have Any Query? Ask Our Experts (Inquiry Before Buying) Healthcare Business Intelligence Market:
www.grandviewresearch.com/inquiry/6854/ibb
Curious to know more? (Request a Free Sample) Click the link below:
Grand View Research has segmented the global healthcare business intelligence market on the basis of component, mode of delivery, application, and end use, and region:
Healthcare Business Intelligence Component Outlook (Revenue, USD Million, 2014 – 2025)
-
Software
-
Services
Healthcare Business Intelligence Mode of Delivery Outlook (Revenue, USD Million, 2014 – 2025)
-
On-premise
-
Cloud-based
-
Hybrid
Healthcare Business Intelligence Application Outlook (Revenue, USD Million, 2014 – 2025)
-
Financial Analysis
-
Claims Processing
-
Revenue Cycle Management
-
Payment Integrity and Fraud, Waste, & Abuse (FWA)
-
Risk Adjustment and Risk Assessment
-
-
Operational Analysis
-
Supply Chain Analysis
-
Workforce Analysis
-
Strategic Analysis
-
-
Clinical Analysis
-
Quality Improvement and Clinical Benchmarking
-
Clinical Decision Support
-
Regulatory Reporting and Compliance
-
Comparative Analytics/Effectiveness
-
Precision Health
-
-
Patient Care
Healthcare Business Intelligence End Use Outlook (Revenue, USD Million, 2014 – 2025)
-
Payers
-
Healthcare Providers
-
Healthcare Manufacturers
Healthcare Business Intelligence Regional Outlook (Revenue, USD Million, 2014 – 2025)
-
North America
-
U.S.
-
Canada
-
-
Europe
-
U.K.
-
Germany
-
France
-
Italy
-
Spain
-
Russia
-
-
Asia Pacific
-
China
-
Japan
-
India
-
Australia
-
Singapore
-
South Korea
-
-
Latin America
-
Brazil
-
Mexico
-
Argentina
-
-
Middle East & Africa
-
South Africa
-
Saudi Arabia
-
UAE
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
If you need specific information, which is not currently within the article, we will provide it to you as a part of customization
Request for Customization:
www.grandviewresearch.com/request-for-customization/6854/rfc
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/healthcare-business-intelligence-market