The Healthcare Business Intelligence Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare Business Intelligence Global Market Report 2024, The healthcare business intelligence market size has grown rapidly in recent years. It will grow from $8.92 billion in 2023 to $10.32 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to regulatory compliance, increased data integration, cost control, population health management, quality improvement.
The healthcare business intelligence market size is expected to see rapid growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to telehealth and remote monitoring, interoperability, concern over cybersecurity, pandemic preparedness, precision medicine. Major trends in the forecast period include real-time data analytics, predictive analytics, data security and privacy, cloud-based bi solutions, ai and machine learning.
The rise in healthcare spending is expected to propel the growth of the healthcare business intelligence (BI) market going forward. Healthcare spending refers to all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid designated for healthcare spending. Healthcare business intelligence offers various benefits for the improvement of patient safety and other healthcare improvements. As a result, a rise in healthcare spending increases the demand for the healthcare business intelligence market. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Therefore, the rise in healthcare spending is driving healthcare business intelligence market.
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The healthcare business intelligence market covered in this report is segmented –
1) By Component: Platforms, Software, Services
2) By Function: Query and Reporting, OLAP and Visualization, Performance Management, Hybrid Model, Cloud-Based Model
3) By Mode of Delivery: On-Premise Model, Hybrid Model, Cloud-Based Model
4) By Application: Financial Analysis, Clinical Data Analysis, Patient Care Analysis, Other Applications
5) By End-User: Payers, Healthcare Providers, Other End-Users
Top Major Players:
Microsoft Corporation
Oracle Corporation
Tableau Software
SAP SE
IBM Corporation
North America was the largest region in the healthcare business intelligence market in 2023.
Technological advancement is a key trend gaining popularity in the healthcare business intelligence market. Companies operating in business intelligence are developing innovative solutions to strengthen their market. For instance, in July 2022, Experity, a Brazil-based software services company, launched Experity Business Intelligence (BI). The new module is within Experity’s electronic medical record and practise management solution and features pre-built clinical, operational, and financial dashboards for urgent care.
The healthcare business intelligence market report table of contents includes:
1. Executive Summary
2. Healthcare Automation Market Characteristics
3. Healthcare Automation Market Trends And Strategies
4. Healthcare Automation Market – Macro Economic Scenario
5. Global Healthcare Automation Market Size and Growth
….……..
31. Global Healthcare Automation Market Competitive Benchmarking
32. Global Healthcare Automation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Healthcare Automation Market
34. Healthcare Automation Market Future Outlook and Potential Analysis
35. Appendix
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