Growth of Healthcare Business Intelligence (BI) Market by Top Key Players

The healthcare business intelligence (BI) 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

(EMAILWIRE.COM, April 29, 2019 ) 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.

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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).

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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