The report "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”
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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.
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Despite the largest share carried by healthcare payers, providers overtake significantly in terms of market growth during the forecast period. Traditional BI dominates the global healthcare BI market, by technology, in terms of revenue while cloud BI and mobile BI pose a great market growth potential owing to growing mobile usage by the healthcare community, and rising demand of hospitals and health systems for a more accessible, cheaper, flexible, agile, and scalable form of BI in this cost constraint healthcare environment.
Based on end application, the market growth will be mainly driven by clinical applications during the forecast period. Among all functions, OLAP and visualization tools market is expected to have an edge over reporting and monitoring tools. Based on geography, North America, especially the U.S. dominates the market and is also expected to grow at the highest CAGR during the forecast period.
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Some leading players in the healthcare BI 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), CitiusTech (U.S.), Computer Sciences Corporation (U.S.), Dimensional Insight (U.S.), Jaspersoft (U.S.), Klipfolio Inc. (Canada), Perficient, Inc. (U.S.), Agilum Healthcare Intelligence, Siemens Healthcare (Germany), Tata Consultancy Services (TCS) (India), Infosys (India), Wipro Limited (India), Hexaware Technologies Limited (India), among others.
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