Healthcare Business Intelligence Market Growth And Status Explored In A New Research

Factors such as the implementation of government initiatives to increase EHR adoption, growing adoption of data-driven decision-making, growing pressure to curb healthcare spending and improve patient outcomes, big data in healthcare, and the increasing number of patient registries are expected to drive the growth of the healthcare business intelligence (BI) market.

"Healthcare Business Intelligence Market by Component (Platform, Software, Service), Function (OLAP, Performance Management), Application (RCM, Inventory, Strategy Analysis), Deployment Model (Cloud, Hybrid) & End User (Payer, Hospital) - Forecast to 2023", published by MarketsandMarkets™, the Healthcare Business Intelligence Market is expected to reach USD 8.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 15.3% during the forecast period.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=252368925 Browse in-depth TOC on "Healthcare Business Intelligence Market"150 – Tables40 – Figures194 - Pages  Vendors are increasingly delivering BI platforms with high levels of internal platform integration and embedded BI capabilities which is driving the growth of this segmentOn the basis of component, the healthcare BI market is segmented into platforms, software, and services.

In 2018, the healthcare business intelligence platforms segment are expected to account for the largest share of the market.

The large share of this market segment is mainly driven by the increasing requirement for customized BI solutions catering to individual requirements of organizations and allowing them the flexibility to build and integrate BI solutions into existing healthcare business applications for higher efficiency and reduced costs.OLAP & visualization is expected to account for the largest share of the healthcare business intelligence market in 2018The market, by function, is segmented into OLAP & visualization, performance management, and query & reporting.

In 2018, OLAP & visualization is expected to account for the largest share of the market.

OLAP & visualization provides quick insights for decision-making, allows for productivity improvement, and provides competitive advantages; these benefits have supported the growth of this market segment.The increasingly focusing on cutting costs and implementing practices that will help their operations remain profitable has made financial analysis solutions all the more significantBased on application, the healthcare business intelligence (BI) market is segmented into clinical analysis, financial analysis, and operational analysis.

Global Healthcare Business Intelligence (BI) Market is expected to reach US$ 10.89 Bn by 2024 from US$ 3.6 Bn in 2016 at CAGR of 14.85%Global healthcare business intelligence (BI) market is segmented by function, technology, application, end user, and geography.

Function segment is classified as query & reporting tools, OLAP and visualization tools and performance management/ monitoring & alerts.

The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

Healthcare Business Intelligence (BI) assists in handling and analyzing large amounts of data generated in healthcare for effective decision making and enable healthcare organizations to build applications that help them understand their processes and use technology to help ensure health care quality and reduce cost.

North America is followed by the Asia Pacific in terms of growth attributed to growth in BI adoption by China, India, Singapore, Malaysia, among others.

The European market is anticipated to grow at the lowest CAGR mainly due to an economic crisis, cultural barriers to IT adoption, and lack of initiatives for implementing BI systems.

With the constantly increasing number of data sources and the complexity of data generated within the healthcare organizations, which can be useful and also has the potential to increase revenue as well as profitability, the healthcare business intelligence market is shaping up.

It has the power to positively impact patient care delivery, health outcomes, and business operations.The driver for this is the need for advanced analytics to support decision-making capabilities.

Hospitals and other healthcare organizations require predictive modeling and data visualization tools from modern business intelligence software applications to gain insights regarding patient care and satisfaction, labor distribution, clinical operations, daily practices of physician and nurses, and administration and management.Healthcare is increasingly dependent on digital technology to support the operations of a functioning healthcare system.

Hospitals and other healthcare organizations need an environment that supports the daily practices of physicians, administration, and all other healthcare personnel.The restraints has been the changing govt regulations which can prove too costly at times as it might result in overhauling the system and thus cost factor might result in stagnating the market.Request For Report Sample: https://www.trendsmarketresearch.com/report/sample/3101The opportunities has been in providing services to small hospitals and whose budget are low.

Thus, custom solutions-based ion the budget of small hospitals is going to prove new avenue to explore.

On the basis of deployment model, the healthcare business intelligence market is segmented into on-premise, hybrid, and cloud-based models.

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.

The global healthcare BI market is likely to expand during the forecast period, due to increasing demand for improved claim management solutions in the healthcare industry and rising demand for data mining applications to provide better patient care.The latest industry intelligence report on the Healthcare Business Intelligence Market performs a cautious examination of the current business environment and competitive landscape of the Healthcare Business Intelligence Market for the forecast period, 2020 - 2027.

For stakeholders, field marketing executives and product owners planning to maintain a competitive edge the market assessment report brings to light essential impression about the growth rate, share and size of the industry during the estimated period.

Deep dive into an array of elements including but not limited to the value proposition, product positioning, and targeting and industry segmentation have been described through resources such as charts, tables, and info graphics.Read more@ https://www.emergenresearch.com/industry-report/healthcare-business-intelligence-marketRegional LandscapeNorth America (U.S., Canada)Europe (U.K., Italy, Germany, France, Rest of EU)Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)Latin America (Chile, Brazil, Argentina, Rest of Latin America)Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)Market Taxonomy:Chapter 1: Methodology & ScopeDefinition and forecast parametersMethodology and forecast parametersData SourcesChapter 2: Executive SummaryBusiness trendsRegional trendsProduct trendsEnd-use trendsChapter 3: Industry InsightsIndustry segmentationIndustry landscapeVendor matrixTechnological and innovation landscapeChapter 4: Regional LandscapeChapter 5:  Company ProfileBusiness OverviewFinancial DataProduct LandscapeStrategic OutlookYou Can Download Free Sample PDF Copy of Healthcare Business Intelligence Market at https://www.emergenresearch.com/request-sample/460   About Us:At Emergen Research, we believe in advancing with technology.

We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.Contact Us:Eric LeeCorporate Sales SpecialistEmergen Research | Web: www.emergenresearch.comDirect Line: +1 (604) 757-9756E-mail: [email protected] | LinkedIn | Twitter | Blogs 

The global healthcare business intelligence (BI) market held a market value of USD 3,650.1 million in 2017 and is projected to grow at a CAGR of 15.5% over the forecast period.Business intelligence is a set of processes, architectures, and technologies used for the collection, integration, analysis, and presentation of business information.

On the contrary, the lack of skilled professionals in the Asia-Pacific and African regions along with the complexity of systems is anticipated to hinder the market growth over the forecast period.Get Exclusive Sample Copy of Healthcare Business Intelligence Market spread across 93 Premium Pages, Top 10 Companies and Supported with 78 Tables and 40 Figures is Now Available @ https://www.marketresearchfuture.com/sample_request/7544Novel trends in the healthcare business intelligence are artificial intelligence (AI) or machine learning, data insurance or security, multi-cloud system, and advanced analytics, which is increasingly facilitating the adoption of BI in the healthcare sector.

Big data analytics along with the internet of things are revolutionizing the healthcare sector in terms of health tracking, reducing healthcare associated costs, assisting high-risk patients, and preventing human errors.Key PlayersSome of the foremost players in the global healthcare business intelligence market are, International Business Machines Corporation,SAS Institute, Tableau Software, MicroStrategy Incorporated, Qlik Technologies, Information Builders, Sisense, Yellowfin International Pty Ltd, and BOARD International S.A.SegmentationThe global healthcare business intelligence market has been segmented into component, function, application, deployment model, end user, and region.By component, the market has been segmented into platforms, software, and services.On the basis of function, the market has been divided into OLAP and visualization, performance management, and query and reporting.Based on application, the market has been categorized into financial analysis, clinical analysis, and operational analysis.

The financial analysis is further categorized into claims processing, revenue cycle management, payment integrity and fraud, waste, and abuse, and risk adjustment and assessment.

On the basis of end user, the market has been categorized into payers, providers, and others.Regional AnalysisThe global healthcare business intelligence market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

This is due to the presence of software and service vendors, and sophisticated healthcare infrastructure, mounting adoption of data-driven decision-making, and emerging fields of prescriptive, predictive analytics.Europe would be the second-largest region in the healthcare business intelligence market due to burgeoning healthcare vertical, increasing adoption of advanced medical technologies, and the presence of vendors such as SAP SE and BOARD International S.A.The market in Asia-Pacific is expected to exhibit comparatively higher CAGR over the forecast period owing to increasing penetration of smartphones and internet, increasing investments in the healthcare infrastructure, rapid industrialization in India, China, and Japan, and a growing number of start-ups focusing on mobile application development.The Middle East & Africa has the least share of the global healthcare business intelligence market.