Healthcare Business Intelligence Market Growth rate, Key Players, Forecast Period

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.

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.

Market HighlightsThe 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.

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.Request Sample Copy: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.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.

Additionally, the major market share of the region would be held by the Middle East region as the business intelligence and analytics solutions are of paramount importance to organizations in the Gulf Cooperation Council (GCC) countries.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.

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.