NEW YORK, July 24, 2023 /PRNewswire/ -- The business intelligence market in the healthcare sector is set to grow by USD 8,991.58 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 17.02% during the forecast period, according to Technavio. The business intelligence market in the healthcare sector is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Accenture Plc, Alphabet Inc., Board International SA, Domo Inc., Hexaware Technologies Ltd., Idera Inc., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corp., Oracle Corp., Perficient Inc., QlikTech International AB, Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Ltd., Tata Consultancy Services Ltd., and TIBCO Software Inc. are some of the major market participants -. To know about the vendor offerings - Request a sample report
Business Intelligence Market in the Healthcare Sector 2023-2027: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The business intelligence market in the healthcare sector report covers the following areas:
- Business Intelligence Market in the Healthcare Sector Size
- Business Intelligence Market in the Healthcare Sector Trends
- Business Intelligence Market in the Healthcare Sector Industry Analysis
- Porter's Five Forces Analysis
- Customer Landscape
The business intelligence market in the healthcare sector is fragmented, and the degree of fragmentation will accelerate. The improved efficiency of bi tools will offer immense growth opportunities. However, the Presence of open-source BI vendors will hamper the market growth.
Business Intelligence Market in the Healthcare Sector 2023-2027: Drivers & Challenges
One of the key drivers supporting the growth of the healthcare business intelligence market is the improved efficiency of BI tools. Business intelligence tools provide real-time information that helps end users avoid process delays, centralize control, and improve market response and decision-making. BI helps hospitals and other end users to transform raw sales, service, marketing, and patient data into useful information consistently and efficiently.
Furthermore, in healthcare, business intelligence has a wide range of uses, including analysis of social media conversations, fraud detection, management information systems, and disease diagnosis. The use of business intelligence in healthcare helps stakeholders track and store real-time health record information related to patient care and medication. Hence, the improved efficiency will fuel the healthcare business intelligence market growth during the forecast period.
One of the key factors challenging the healthcare BI market growth is the presence of open-source BI vendors. Open-source BI vendors offer software solutions that are free to use, and users can modify them as per their needs. Vendors such as Pentaho, BIRT, SpagoBI, KNIME, and JasperReport offer BI solutions for free. One of the challenges with the existence of open-source BI vendors is that it can be difficult for large-scale vendors to monetize their products. This is because customers may choose to use a free, open-source solution instead of a commercial BI product that costs high. Therefore, commercial BI vendors may need to offer additional features and services to attract customers.
Furthermore, another challenge is that open-source BI vendors may have strong communities of developers and users who continually improve and update their software. This makes it difficult for commercial players to keep up with the latest trends and technologies, and they may fall behind in terms of product development and innovation. Besides, open-source BI vendors may have a larger user base than commercial vendors, which can make it difficult for commercial vendors to compete on price. Thus, this factor will hamper the growth of the healthcare BI market
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Business Intelligence Market in the Healthcare Sector 2023-2027: Segment Analysis
- Component
- Software
- Services
- Deployment
- Cloud-based
- On-premise
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
Business Intelligence Market in the Healthcare Sector 2023-2027: Segmentation Highlights
The market share growth by the software segment will be significant during the forecast period. The software segment is further segmented by component into the following categories BI platforms, Dashboard and reporting software, Data analytics software, Data warehousing software, Mobile BI software, Self-service BI software, and Cloud-based BI software. Furthermore, the software components of the healthcare business intelligence market include various types of software such as query and reporting, performance management, and analytics solutions. These software tools are designed to help healthcare enterprises to improve their operational efficiency, reduce costs, and improve patient outcomes by providing data insights. Hence, insights into their data will support driving the growth of the market during the forecast period.
North America is estimated to contribute 30% to the growth of the global market during the forecast period. With the majority of the market share, the North American market is dominated by the US. Rising demand for healthcare services, the need to reduce healthcare costs, and the availability of advanced technologies are the key factors driving the growth of the market in North America. Healthcare uses business intelligence solutions to improve patient outcomes and streamline clinical operations. Business intelligence tools analyze data from electronic medical records, patient satisfaction surveys, and other sources to identify trends, patterns, and opportunities for advancement. These insights can be used to design targeted interventions and improve patient care. Thus, such factors will grow the market in this region during the forecast period.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report
Business Intelligence Market in the Healthcare Sector 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist the business intelligence market in the healthcare sector growth during the next five years
- Estimation of the business intelligence market in the healthcare sector size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the business intelligence market in the healthcare sector across North America, Europe, APAC, South America, and the Middle East and Africa
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the business intelligence market vendors in the healthcare sector
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Business Intelligence Market In The Healthcare Sector Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.02% |
Market growth 2023-2027 |
USD 8,991.58 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
16.6 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Alphabet Inc., Board International SA, Domo Inc., Hexaware Technologies Ltd., Idera Inc., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corp., Oracle Corp., Perficient Inc., QlikTech international AB, Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Ltd., Tata Consultancy Services Ltd., and TIBCO Software Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global business intelligence market in the healthcare sector market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global business intelligence market in the healthcare sector market 2017 - 2021 ($ million)
- 4.2 Component Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)
- 4.3 Deployment Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Component
- 6.1 Market segments
- Exhibit 30: Chart on Component - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
- 6.2 Comparison by Component
- Exhibit 32: Chart on Comparison by Component
- Exhibit 33: Data Table on Comparison by Component
- 6.3 Software - Market size and forecast 2022-2027
- Exhibit 34: Chart on Software - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)
- 6.4 Services - Market size and forecast 2022-2027
- Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Component
- Exhibit 42: Market opportunity by Component ($ million)
- Exhibit 43: Data Table on Market opportunity by Component ($ million)
7 Market Segmentation by Deployment
- 7.1 Market segments
- Exhibit 44: Chart on Deployment - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Deployment - Market share 2022-2027 (%)
- 7.2 Comparison by Deployment
- Exhibit 46: Chart on Comparison by Deployment
- Exhibit 47: Data Table on Comparison by Deployment
- 7.3 Cloud-based - Market size and forecast 2022-2027
- Exhibit 48: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)
- 7.4 On-premise - Market size and forecast 2022-2027
- Exhibit 52: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on On-premise - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on On-premise - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Deployment
- Exhibit 56: Market opportunity by Deployment ($ million)
- Exhibit 57: Data Table on Market opportunity by Deployment ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.12 India - Market size and forecast 2022-2027
- Exhibit 99: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Accenture Plc
- Exhibit 111: Accenture Plc - Overview
- Exhibit 112: Accenture Plc - Business segments
- Exhibit 113: Accenture Plc - Key offerings
- Exhibit 114: Accenture Plc - Segment focus
- 12.4 Board International SA
- Exhibit 115: Board International SA - Overview
- Exhibit 116: Board International SA - Product / Service
- Exhibit 117: Board International SA - Key offerings
- 12.5 Idera Inc.
- Exhibit 118: Idera Inc. - Overview
- Exhibit 119: Idera Inc. - Product / Service
- Exhibit 120: Idera Inc. - Key offerings
- 12.6 Infor Inc.
- Exhibit 121: Infor Inc. - Overview
- Exhibit 122: Infor Inc. - Product / Service
- Exhibit 123: Infor Inc. - Key news
- Exhibit 124: Infor Inc. - Key offerings
- 12.7 International Business Machines Corp.
- Exhibit 125: International Business Machines Corp. - Overview
- Exhibit 126: International Business Machines Corp. - Business segments
- Exhibit 127: International Business Machines Corp. - Key news
- Exhibit 128: International Business Machines Corp. - Key offerings
- Exhibit 129: International Business Machines Corp. - Segment focus
- 12.8 Microsoft Corp.
- Exhibit 130: Microsoft Corp. - Overview
- Exhibit 131: Microsoft Corp. - Business segments
- Exhibit 132: Microsoft Corp. - Key news
- Exhibit 133: Microsoft Corp. - Key offerings
- Exhibit 134: Microsoft Corp. - Segment focus
- 12.9 MicroStrategy Inc.
- Exhibit 135: MicroStrategy Inc. - Overview
- Exhibit 136: MicroStrategy Inc. - Product / Service
- Exhibit 137: MicroStrategy Inc. - Key offerings
- 12.10 Open Text Corp.
- Exhibit 138: Open Text Corp. - Overview
- Exhibit 139: Open Text Corp. - Product / Service
- Exhibit 140: Open Text Corp. - Key news
- Exhibit 141: Open Text Corp. - Key offerings
- 12.11 Oracle Corp.
- Exhibit 142: Oracle Corp. - Overview
- Exhibit 143: Oracle Corp. - Business segments
- Exhibit 144: Oracle Corp. - Key news
- Exhibit 145: Oracle Corp. - Key offerings
- Exhibit 146: Oracle Corp. - Segment focus
- 12.12 QlikTech international AB
- Exhibit 147: QlikTech international AB - Overview
- Exhibit 148: QlikTech international AB - Product / Service
- Exhibit 149: QlikTech international AB - Key offerings
- 12.13 Salesforce.com Inc.
- Exhibit 150: Salesforce.com Inc. - Overview
- Exhibit 151: Salesforce.com Inc. - Product / Service
- Exhibit 152: Salesforce.com Inc. - Key news
- Exhibit 153: Salesforce.com Inc. - Key offerings
- 12.14 SAP SE
- Exhibit 154: SAP SE - Overview
- Exhibit 155: SAP SE - Business segments
- Exhibit 156: SAP SE - Key news
- Exhibit 157: SAP SE - Key offerings
- Exhibit 158: SAP SE - Segment focus
- 12.15 SAS Institute Inc.
- Exhibit 159: SAS Institute Inc. - Overview
- Exhibit 160: SAS Institute Inc. - Product / Service
- Exhibit 161: SAS Institute Inc. - Key news
- Exhibit 162: SAS Institute Inc. - Key offerings
- 12.16 Sisense Ltd.
- Exhibit 163: Sisense Ltd. - Overview
- Exhibit 164: Sisense Ltd. - Product / Service
- Exhibit 165: Sisense Ltd. - Key offerings
- 12.17 TIBCO Software Inc.
- Exhibit 166: TIBCO Software Inc. - Overview
- Exhibit 167: TIBCO Software Inc. - Product / Service
- Exhibit 168: TIBCO Software Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 169: Inclusions checklist
- Exhibit 170: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 171: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 172: Research methodology
- Exhibit 173: Validation techniques employed for market sizing
- Exhibit 174: Information sources
- 13.5 List of abbreviations
- Exhibit 175: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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