Healthcare Business Intelligence Market : Industry Growth and Opportunities- Forecast to 2023
[194 Pages Report] 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. The study involved four major activities to estimate the current size of the market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Browse 150 market data Tables and 40 Figures spread through 194 Pages and in-depth TOC on "Healthcare Business Intelligence Market
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the healthcare business intelligence market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
The key players in the industry and markets have been identified through extensive secondary research.
Healthcare business intelligence revenue generated by leading players has been determined through primary and secondary research.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
-To define, describe, and forecast the market on the basis of component, function, application, deployment model, end user, and region.
-To provide detailed information regarding the factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
-To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the market
-To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
-To forecast the size of market segments in North America, Europe, Asia, and the Rest of the World (RoW)2
-To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies3
-To track and analyze competitive developments, such as product launches and enhancements, agreements, partnerships, collaborations, acquisition, and expansions in the healthcare business intelligence market
North America is expected to account for the largest market size during the forecast period
The market is dominated by North America, followed by Europe, Asia, and RoW. The market in North America is expected to witness the highest growth during the forecast period. The high growth of the North American market can be attributed to the increasing adoption of healthcare intelligence solutions and services by healthcare providers (especially in the US) to provide better quality care and lower healthcare costs is a major factor driving market growth.
Key players in healthcare business intelligence market
The market is highly competitive in nature, with several big as well as emerging players. Prominent players in this market include Microsoft (US), IBM (US), Oracle (US), SAP SE (Germany), SAS Institute Inc. (US), Tableau Software (US), MicroStrategy Incorporated (US), QlikTech International AB (US), Information Builders (US), Sisense Inc. (US), Yellowfin BI (Australia), and BOARD International (Switzerland).
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