Healthcare Business Intelligence (BI) Market Worth $4.7 Billion by 2018
Some leading players in the healthcare business intelligence market are IBM Corporation (U.S.), Information Builders (U.S.), Microsoft Corporation (U.S.), MicroStrategy (U.S.), Oracle Corporation (U.S.) Qlik Technologies, Inc. (U.S.), SAP AG (Germany), SAS Institute, Inc. (U.S.), TIBCO Software Inc. (U.S.), Tableau Software (U.S.)
Dallas, TX -- (SBWire) -- 11/14/2014 --This report studies the "Healthcare Business Intelligence (BI) Market by Function (Reporting, OLAP, Monitoring), Application (Clinical & Financial), Technology (Traditional, Cloud, Mobile), End User (Hospitals, Clinics, ACO, HIE, Payers) - Trends & Global Forecasts to 2018 " The market, estimated at $2,376.6 million in 2013, is expected to reach $4,738.2 million by 2018, growing at a CAGR of 14.8% from 2013 to 2018.
Browse 72 market data tables and 16 figures spread through 200 pages and in-depth TOC on “Healthcare Business Intelligence (BI) Market”
Healthcare business intelligence helps in handling and analyzing large amounts of data generated in healthcare for effective decision making. This market is driven by several factors such as federal mandates, rise in healthcare data, need to manage rising healthcare costs, improve medical outcomes, enhance patient satisfaction, and meet with increasing regulatory compliance requirements. Apart from these parameters, other factors such as growing usage of mobile by the healthcare community, increasing adoption of cloud computing, growing healthcare IT adoption, boosting healthcare information exchanges, health insurance exchanges, and integration environments are indirectly supporting this market growth. However, factors such as data privacy and security issues, complex set of technologies, lack of flexibility of systems, cultural barriers to IT adoption by the medical community especially in Europe, operational gap between payers and providers, lack of comparable and transparent healthcare data, and lack of manpower with healthcare and technical skills are expected to hinder the growth of this market.
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The market is segmented on function, application, technology, end user, and geography. On the basis of function, the market is broadly classified into query and reporting tools, On-Line Analytical Processing (OLAP) and visualization tools, and Performance Management/ Monitoring & alerts. Based on application, the market is divided into clinical, financial analysis and operational performance, and cost management. The healthcare business intelligence market, by technology, is divided into traditional BI, cloud BI and mobile BI. Based on end user, the healthcare BI market is segmented into providers and payers. Provider market is further classified into hospitals, physician practices/clinics and IDNs/MCOs/ACOs/HIEs. Based on geography, the market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North American market is further segmented into the U.S. and Canada.
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Some leading players in the healthcare business intelligence market are IBM Corporation (U.S.), Information Builders (U.S.), Microsoft Corporation (U.S.), MicroStrategy (U.S.), Oracle Corporation (U.S.) Qlik Technologies, Inc. (U.S.), SAP AG (Germany), SAS Institute, Inc. (U.S.), TIBCO Software Inc. (U.S.), Tableau Software (U.S.), and other players such as Accenture (Ireland), Agilum Healthcare Intelligence (U.S.), CitiusTech (U.S.), Computer Sciences Corporation (U.S.), Dimensional Insight (U.S.), Hexaware Technologies Limited (India), Infosys (India), Jaspersoft (U.S.), Klipfolio Inc. (Canada), Perficient, Inc. (U.S.), Siemens Healthcare (Germany), Tata Consultancy Services (TCS) (India), Wipro Limited (India), among others.
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