Big Data Analytics in Healthcare Market Worth USD 67.82 Bn by 2025 | Top Players such as-Dell EMC, Optum, IBM and HPE
Rise in need for business intelligence for the optimization of health administration and strategy is expected to boost the growth of the market
PORTLAND, UNITED STATE, March 16, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Big Data Analytics in Healthcare Market Worth USD 67.82 Bn by 2025 | Top Players such as-Dell EMC, Optum, IBM and HPE.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global big data analytics in healthcare market size was valued at USD 16.87 billion in 2017, and is projected to reach USD 67.82 billion by 2025, growing at a CAGR of 19.1% from 2018 to 2025.
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Rise in adoption of big data in the healthcare industry, increase in demand for analytics solution to aid population health management, and shift in preference from a pay-for-service model to a value-based care model drive the growth of the big data analytics in healthcare market. Based on component, the software segment held the largest market share in 2017. Based on region, America dominated the market in 2017.
The global big data analytics in healthcare market is segmented on the basis of component, deployment, analytics type, application, end user, and region. Based on component, the market is bifurcated into software and services. The software segment accounted for more than two-thirds of the total market share in 2017 and is projected to maintain its dominance through 2025. However, the services segment is projected to register the fastest CAGR of 21.3% during the forecast period.
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Based on deployment, the market is divided into on-premise and cloud. The on-premise segment held the largest share in 2017, accounting for 59.3% of total share and is expected to continue its dominance throughout the forecast period. On the other hand, the cloud-based deployment model is anticipated to register the fastest CAGR of 20.8% during the forecast period.
The cloud deployment segment is expected to grow at the highest CAGR during the forecast period due to greater prospect to facilitate real business value to the organization through reduced cost and improved ability to focus on innovation and differentiation. In addition, direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this model, which in turn are anticipated to boost the big data analytics in the healthcare market growth.
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Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across North America dominated the market in 2017, holding more than half of the total market share. On the other hand, the region across Europe is projected to portray the highest CAGR of 21.8% during the forecast period.
The key players analyzed in the report include Cerner Corporation, Dell EMC, Allscripts, Epic System Corporation, Microsoft, Optum, Inc., International Business Machines (IBM) Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, and GE Healthcare.
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Key Findings of the Big Data Analytics in Healthcare Market:
⁕ By component, services segment is expected to exhibit significant growth in the global big data analytics in healthcare market during the forecast period.
⁕ In 2017, the on-premise segment accounted for the highest revenue in the deployment type category.
⁕ Based on application, the clinical analytics segment generated the highest revenue in 2017.
⁕ Based on end user, hospitals & clinics segment generated the highest revenue in 2017.
⁕ Based on region, North America dominated the overall big data analytics in healthcare market share in 2017.
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