Healthcare Business Intelligence Market Size and Forecast 2024-2033|Microsoft Corporation, Oracle Corporation, Tableau Software, SAP SE, IBM Corporation

Overview and Scope

Healthcare business intelligence refers to dashboards, metrics, reports, and solutions designed to identify patterns and help drive outcomes. Healthcare providers use business intelligence to achieve the insight they need to increase revenue, reduce costs, and improve patient safety and outcomes.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

North America was the largest region in the healthcare business intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare business intelligence market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the healthcare business intelligence market include Microsoft Corporation, Oracle Corporation, Tableau Software, SAP SE, IBM Corporation, QlikTech International AB, Sisense Inc, SAS Institute Inc, BOARD International, Yellowfin BI, MicroStrategy Incorporated, Infor Inc, Domo Inc., Information Builders, Perficient Inc., Tibco Software Inc., Panorama Software Inc, Definitive Healthcare, Dimensional Insight Inc., Looker Data Sciences Inc., GoodData Corporation, Phocas Software, Pyramid Analytics Inc., Dundas Data Visualization Inc., Alteryx Inc., ThoughtSpot Inc., Rapid Insight Inc., Aptean Inc., Health Catalyst Inc., Arcadia.io Inc., MedeAnalytics Inc., McKesson Corporation, Optum Inc., Cerner Corporation, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Epic Systems Corporation, GE Healthcare, Philips Healthcare, Siemens Healthineers, Change Healthcare

The healthcare business intelligence market report table of contents includes:

1. Executive Summary

2. Healthcare Business Intelligence Market Characteristics

3. Healthcare Business Intelligence Market Trends And Strategies

4. Healthcare Business Intelligence Market – Macro Economic Scenario

5. Global Healthcare Business Intelligence Market Size and Growth

26. South America Healthcare Business Intelligence Market

27. Brazil Healthcare Business Intelligence Market

28. Middle East Healthcare Business Intelligence Market

29. Africa Healthcare Business Intelligence Market

30. Healthcare Business Intelligence Market Competitive Landscape And Company Profiles

Top Major Players: