Healthcare Business Intelligence Market Reaching to US$ 8.9 Billion Revenue to 2023 Overview by Information Builders (US), Sisense Inc. (US), Yellowfin BI (Australia) and BOARD International (Switzerland) Key Players

The healthcare business intelligence market dominated by OLAP & visualization, performance management, and query & reporting. Report provides a picture of the global healthcare business intelligence market.

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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 forecast period. Factors like 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, & increasing number of patient registries are expected to drive growth of market.

It aims at estimating the size and future growth potential of Healthcare Business Intelligence market across different segments, such as componet, function, application, deployment model, end user, and region. In 2018, performance management segment is expected to grow at highest CAGR during the forecast period majorly due to advantages associated with these tools. Performance management tools help healthcare organizations measure, monitor, and track strategic goals and performance milestones.

“Growing adoption of data-driven decision-making is expected to drive the overall growth of the healthcare business intelligence market”

IBM is one of the key players in the healthcare BI market and provides a comprehensive range of solutions for this market. IBM is an innovation-centric company; its R&D expenditure has increased substantially in 2017 as compared to 2015. In 2017, it invested 7.3% of its annual revenue in R&D activities. This significant investment allows the company to offer innovative solutions by adopting new product launches. With an aim to increase its footprint in various sectors, IBM has adopted inorganic strategies, such as acquisitions, collaborations, and partnerships.

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North America is expected to account for largest share of healthcare business intelligence market. This market is also expected to grow at highest CAGR during forecast period. 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.

List of Companies Profiled in the Report
• 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)
• BOARD International (Switzerland)

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The healthcare business intelligence market is segmented into OLAP & visualization, performance management, and query & reporting. In 2018, performance management segment is expected to grow at highest CAGR during forecast period majorly due to advantages associated with these tools. Performance management tools help healthcare organizations measure, monitor, and track strategic goals and performance milestones.

The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1: 37%, Tier 2: 22%, Tier 3: 41%
• By Designation - C-level: 25%, D-level: 20%, Others: 55%
• By Region - North America: 40%, Europe: 27%, Asia: 20%, RoW: 13%

The healthcare business intelligence market is dominated by North America, followed by Europe, Asia, and RoW. Market in North America is expected to witness highest growth during forecast period. High growth of North American market can be attributed to 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.

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