Hospital Information Systems Market SWOT Analysis by 2031
The Hospital Information Systems Market is expected to register a CAGR of 6.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Hospital Information Systems Market report covers the global and regional overview of the market. It also offers segmental analysis By Component, Deployment, System type, and End users. The market research report offers business strategies adopted by key players.
Purpose of the ReportThe report Hospital Information Systems Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Hospital Information Systems Market Segmentation
Component- Hardware
- Software
- Services
- On-Premises Installation
- Web-Based Technology
- Cloud-Based Technology
- Clinical Information System
- Administrative Information System
- Electronic Medical Record
- Laboratory Information System
- Radiology Information System
- others
- Hospitals
- Insurance companies
- others
- Hospitals
- Insurance companies
- others
Strategic Insights
Hospital Information Systems Market Growth Drivers- EHR and Integrated Systems Drive HIS Market Growth: The growth in the adoption of electronic health records (EHR) and integrated systems is significantly driving the Hospital Information Systems Market Growth. Health facilities are trying to improve patient care and process a smooth operation through sophisticated technology. This has led to growing demand for efficient management platforms for hospitals in the market, thus having a major influence on the Hospital Information Systems Market share while boosting investments in technology.
- Government Initiatives and Regulatory Mandates: Governments worldwide are heavily investing in the process of healthcare digitization and mandating the implementation of HIS so that better healthcare services can be delivered. Such initiatives, in the form of incentives for implementing HIS, help in the gain of Hospital Information Systems Market Size. Pressure to have better patient management and information handling fuels the growth of HIS infrastructure in both developed and developing regions.
- Telemedicine Demand Expands HIS Market: The increasing demand for telemedicine and other remote health services has generated the need for an integrated, interoperable set of hospital information systems. Most trends have gained significant popularity post-pandemic and thus would be a significant influence in driving growth in this Hospital Information Systems Market report prediction. This adoption finds an easy fit with HIS platforms that will better synchronize data and push the needs for the future growth of the global Hospital Information Systems Market.
- Cloud-Based Hospital Information Systems (HIS) Integration: Cloud computing technology integrates changes into the Hospital Information Systems Market dynamics by allowing for efficient data management, remote access, and scalability. It attracts healthcare facilities seeking a flexible approach that addresses their cost-cutting requirements. The hospital Information Systems Market is moving rapidly toward cloud-based platforms for improved workflow refinement, minimized IT infrastructure costs, and real-time access to patient data, especially in telemedicine. As a recent analysis of the Hospital Information Systems Market has indicated, this trend is now creating growth mainly because healthcare providers are increasingly adopting digital transformation.
- Interoperability and Data Integration: Expansion of health care ecosystems requires shared seamless data flow across the various platforms that exist in this sector. An overview of Hospital Information Systems Market discussed how demand for such systems integrated with electronic health records (EHRs) into other kinds of technologies like wearable devices and diagnostic tools is increasing. Enhanced interoperability does not only enhance patient outcomes but also ensures that better clinical decision-making occurs. The major market players of Hospital Information Systems are developing solutions for the easier exchange of data, meeting growing connectivity and all-inclusive care management needs in the industry.
- Artificial Intelligence and Machine Learning Integration: The Hospital Information Systems Market is fast evolving into an essential requirement with the advent of artificial intelligence (AI) and machine learning (ML), since predictive analytics and decision support systems aid in the efficient analysis of patient data and identification of patterns for early diagnosis, thus providing optimal treatment plans that are considered to be supported by AI-powered HIS solutions. This shift is changing Hospital Information Systems Market trends towards personalized care, and a hospital information systems market analysis clearly shows that the key players in the hospital information systems market raise investments in AI to make healthcare not only effective but safe as well.
- Mobile Health Integration: With the rising adoption of mobile health applications, the integration of mHealth with hospital systems holds an unexplored opportunity in the Hospital Information Systems Market scope. By providing access to health records, scheduling appointment services, and conducting remote monitoring of patients through smartphones, hospitals will be able to enhance the engagement and care of patients. Patient-centric care and smooth communication between the healthcare providers and the patient are most likely to drive further implementation of mobile health integration, thus giving an early mover's advantage to the competitors over others.
- Sophisticated Analytics to Boost Operational Efficiency: Hospitals will look increasingly toward advanced analytics-from advanced predictive models in optimal resource allocations to reduced costs and more efficient workflows. The Hospital Information Systems Market dynamics further point out that a solution that allows for predictive analytics, and deep insight into the operation of a hospital in real-time, can change the game of decision-making. Analytics for forecasting patient volumes and optimizing staffing, inventory, and logistics will be a key growth area for hospital information systems in the years ahead.
- Blockchain for Data Security: Blockchain technology can prove to be a revolution for hospitals in the Hospital Information Systems Market to enhance data security. It is decentralized and tamper proof, allowing permanent storage of patient records while providing solutions against the emerging breach and security concerns on healthcare data privacy. While it becomes standard practice for the selection of hospitals wanting to ensure safe sharing of sensitive health information, companies specializing in blockchain-based applications will have more than enough scope to enter this growing market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hospital Information Systems Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Hospital Information Systems Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Hospital Information Systems Market is expected to register a CAGR of 6.3% from 2023-2031.
The major factors impacting the Hospital Information Systems Market are: Digital Transformation in Healthcare, Government Initiatives and Regulatory Mandates, and Rising Demand for Telemedicine
Key future trends in this market are - cloud-based HIS integration to improve data management and remote access, enhanced interoperability across healthcare platforms for seamless data flow and better patient outcomes, AI and ML-powered HIS solutions for predictive analytics and personalized care planning.
Key companies in this market are: Koninklijke Philips N V, GENERAL ELECTRIC COMPANY, NXGN Management LLC, IBM Watson Health, McKesson Corporation, Cerner Corporation, Agfa Gevaert Group, Wipro Limited, Siemens Healthineers
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hospital Information Systems Market - By Component
1.3.2 Hospital Information Systems Market - By Deployment
1.3.3 Hospital Information Systems Market - By System Type
1.3.4 Hospital Information Systems Market - By End Users
1.3.5 Hospital Information Systems Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HOSPITAL INFORMATION SYSTEMS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. HOSPITAL INFORMATION SYSTEMS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HOSPITAL INFORMATION SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. HOSPITAL INFORMATION SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. HOSPITAL INFORMATION SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. HOSPITAL INFORMATION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SERVICES
7.3.1. Overview
7.3.2. Services Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.4.3. Integrated Software Market
7.4.3.1. Overview
7.4.3.2. Integrated Software Market Forecast and Analysis
7.4.4. Standalone Software Market
7.4.4.1. Overview
7.4.4.2. Standalone Software Market Forecast and Analysis
7.5. HARDWARE
7.5.1. Overview
7.5.2. Hardware Market Forecast and Analysis
8. HOSPITAL INFORMATION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT
8.1. OVERVIEW
8.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
8.3. ON-PREMISES
8.3.1. Overview
8.3.2. On-Premises Market Forecast and Analysis
8.4. CLOUD BASED
8.4.1. Overview
8.4.2. Cloud Based Market Forecast and Analysis
8.5. WEB BASED
8.5.1. Overview
8.5.2. Web Based Market Forecast and Analysis
9. HOSPITAL INFORMATION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - SYSTEM TYPE
9.1. OVERVIEW
9.2. SYSTEM TYPE MARKET FORECASTS AND ANALYSIS
9.3. CLINICAL INFORMATION SYSTEM
9.3.1. Overview
9.3.2. Clinical Information System Market Forecast and Analysis
9.4. ADMINISTRATIVE INFORMATION SYSTEM
9.4.1. Overview
9.4.2. Administrative Information System Market Forecast and Analysis
9.5. ELECTRONIC MEDICAL RECORD
9.5.1. Overview
9.5.2. Electronic Medical Record Market Forecast and Analysis
9.6. LABORATORY INFORMATION SYSTEM
9.6.1. Overview
9.6.2. Laboratory Information System Market Forecast and Analysis
9.7. RADIOLOGY INFORMATION SYSTEM
9.7.1. Overview
9.7.2. Radiology Information System Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. HOSPITAL INFORMATION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
10.1. OVERVIEW
10.2. END USERS MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS
10.3.1. Overview
10.3.2. Hospitals Market Forecast and Analysis
10.4. INSURANCE COMPANIES
10.4.1. Overview
10.4.2. Insurance Companies Market Forecast and Analysis
10.5. OTHERS
10.5.1. Overview
10.5.2. Others Market Forecast and Analysis
11. HOSPITAL INFORMATION SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Hospital Information Systems Market Overview
11.1.2 North America Hospital Information Systems Market Forecasts and Analysis
11.1.3 North America Hospital Information Systems Market Forecasts and Analysis - By Component
11.1.4 North America Hospital Information Systems Market Forecasts and Analysis - By Deployment
11.1.5 North America Hospital Information Systems Market Forecasts and Analysis - By System Type
11.1.6 North America Hospital Information Systems Market Forecasts and Analysis - By End Users
11.1.7 North America Hospital Information Systems Market Forecasts and Analysis - By Countries
11.1.7.1 United States Hospital Information Systems Market
11.1.7.1.1 United States Hospital Information Systems Market by Component
11.1.7.1.2 United States Hospital Information Systems Market by Deployment
11.1.7.1.3 United States Hospital Information Systems Market by System Type
11.1.7.1.4 United States Hospital Information Systems Market by End Users
11.1.7.2 Canada Hospital Information Systems Market
11.1.7.2.1 Canada Hospital Information Systems Market by Component
11.1.7.2.2 Canada Hospital Information Systems Market by Deployment
11.1.7.2.3 Canada Hospital Information Systems Market by System Type
11.1.7.2.4 Canada Hospital Information Systems Market by End Users
11.1.7.3 Mexico Hospital Information Systems Market
11.1.7.3.1 Mexico Hospital Information Systems Market by Component
11.1.7.3.2 Mexico Hospital Information Systems Market by Deployment
11.1.7.3.3 Mexico Hospital Information Systems Market by System Type
11.1.7.3.4 Mexico Hospital Information Systems Market by End Users
11.2. EUROPE
11.2.1 Europe Hospital Information Systems Market Overview
11.2.2 Europe Hospital Information Systems Market Forecasts and Analysis
11.2.3 Europe Hospital Information Systems Market Forecasts and Analysis - By Component
11.2.4 Europe Hospital Information Systems Market Forecasts and Analysis - By Deployment
11.2.5 Europe Hospital Information Systems Market Forecasts and Analysis - By System Type
11.2.6 Europe Hospital Information Systems Market Forecasts and Analysis - By End Users
11.2.7 Europe Hospital Information Systems Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Hospital Information Systems Market
11.2.7.1.1 Germany Hospital Information Systems Market by Component
11.2.7.1.2 Germany Hospital Information Systems Market by Deployment
11.2.7.1.3 Germany Hospital Information Systems Market by System Type
11.2.7.1.4 Germany Hospital Information Systems Market by End Users
11.2.7.2 France Hospital Information Systems Market
11.2.7.2.1 France Hospital Information Systems Market by Component
11.2.7.2.2 France Hospital Information Systems Market by Deployment
11.2.7.2.3 France Hospital Information Systems Market by System Type
11.2.7.2.4 France Hospital Information Systems Market by End Users
11.2.7.3 Italy Hospital Information Systems Market
11.2.7.3.1 Italy Hospital Information Systems Market by Component
11.2.7.3.2 Italy Hospital Information Systems Market by Deployment
11.2.7.3.3 Italy Hospital Information Systems Market by System Type
11.2.7.3.4 Italy Hospital Information Systems Market by End Users
11.2.7.4 Spain Hospital Information Systems Market
11.2.7.4.1 Spain Hospital Information Systems Market by Component
11.2.7.4.2 Spain Hospital Information Systems Market by Deployment
11.2.7.4.3 Spain Hospital Information Systems Market by System Type
11.2.7.4.4 Spain Hospital Information Systems Market by End Users
11.2.7.5 United Kingdom Hospital Information Systems Market
11.2.7.5.1 United Kingdom Hospital Information Systems Market by Component
11.2.7.5.2 United Kingdom Hospital Information Systems Market by Deployment
11.2.7.5.3 United Kingdom Hospital Information Systems Market by System Type
11.2.7.5.4 United Kingdom Hospital Information Systems Market by End Users
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Hospital Information Systems Market Overview
11.3.2 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis
11.3.3 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis - By Deployment
11.3.5 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis - By System Type
11.3.6 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis - By End Users
11.3.7 Asia-Pacific Hospital Information Systems Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Hospital Information Systems Market
11.3.7.1.1 Australia Hospital Information Systems Market by Component
11.3.7.1.2 Australia Hospital Information Systems Market by Deployment
11.3.7.1.3 Australia Hospital Information Systems Market by System Type
11.3.7.1.4 Australia Hospital Information Systems Market by End Users
11.3.7.2 China Hospital Information Systems Market
11.3.7.2.1 China Hospital Information Systems Market by Component
11.3.7.2.2 China Hospital Information Systems Market by Deployment
11.3.7.2.3 China Hospital Information Systems Market by System Type
11.3.7.2.4 China Hospital Information Systems Market by End Users
11.3.7.3 India Hospital Information Systems Market
11.3.7.3.1 India Hospital Information Systems Market by Component
11.3.7.3.2 India Hospital Information Systems Market by Deployment
11.3.7.3.3 India Hospital Information Systems Market by System Type
11.3.7.3.4 India Hospital Information Systems Market by End Users
11.3.7.4 Japan Hospital Information Systems Market
11.3.7.4.1 Japan Hospital Information Systems Market by Component
11.3.7.4.2 Japan Hospital Information Systems Market by Deployment
11.3.7.4.3 Japan Hospital Information Systems Market by System Type
11.3.7.4.4 Japan Hospital Information Systems Market by End Users
11.3.7.5 South Korea Hospital Information Systems Market
11.3.7.5.1 South Korea Hospital Information Systems Market by Component
11.3.7.5.2 South Korea Hospital Information Systems Market by Deployment
11.3.7.5.3 South Korea Hospital Information Systems Market by System Type
11.3.7.5.4 South Korea Hospital Information Systems Market by End Users
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Hospital Information Systems Market Overview
11.4.2 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis
11.4.3 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis - By Deployment
11.4.5 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis - By System Type
11.4.6 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis - By End Users
11.4.7 Middle East and Africa Hospital Information Systems Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Hospital Information Systems Market
11.4.7.1.1 South Africa Hospital Information Systems Market by Component
11.4.7.1.2 South Africa Hospital Information Systems Market by Deployment
11.4.7.1.3 South Africa Hospital Information Systems Market by System Type
11.4.7.1.4 South Africa Hospital Information Systems Market by End Users
11.4.7.2 Saudi Arabia Hospital Information Systems Market
11.4.7.2.1 Saudi Arabia Hospital Information Systems Market by Component
11.4.7.2.2 Saudi Arabia Hospital Information Systems Market by Deployment
11.4.7.2.3 Saudi Arabia Hospital Information Systems Market by System Type
11.4.7.2.4 Saudi Arabia Hospital Information Systems Market by End Users
11.4.7.3 U.A.E Hospital Information Systems Market
11.4.7.3.1 U.A.E Hospital Information Systems Market by Component
11.4.7.3.2 U.A.E Hospital Information Systems Market by Deployment
11.4.7.3.3 U.A.E Hospital Information Systems Market by System Type
11.4.7.3.4 U.A.E Hospital Information Systems Market by End Users
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Hospital Information Systems Market Overview
11.5.2 South and Central America Hospital Information Systems Market Forecasts and Analysis
11.5.3 South and Central America Hospital Information Systems Market Forecasts and Analysis - By Component
11.5.4 South and Central America Hospital Information Systems Market Forecasts and Analysis - By Deployment
11.5.5 South and Central America Hospital Information Systems Market Forecasts and Analysis - By System Type
11.5.6 South and Central America Hospital Information Systems Market Forecasts and Analysis - By End Users
11.5.7 South and Central America Hospital Information Systems Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Hospital Information Systems Market
11.5.7.1.1 Brazil Hospital Information Systems Market by Component
11.5.7.1.2 Brazil Hospital Information Systems Market by Deployment
11.5.7.1.3 Brazil Hospital Information Systems Market by System Type
11.5.7.1.4 Brazil Hospital Information Systems Market by End Users
11.5.7.2 Argentina Hospital Information Systems Market
11.5.7.2.1 Argentina Hospital Information Systems Market by Component
11.5.7.2.2 Argentina Hospital Information Systems Market by Deployment
11.5.7.2.3 Argentina Hospital Information Systems Market by System Type
11.5.7.2.4 Argentina Hospital Information Systems Market by End Users
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL HOSPITAL INFORMATION SYSTEMS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. HOSPITAL INFORMATION SYSTEMS MARKET, KEY COMPANY PROFILES
14.1. KONINKLIJKE PHILIPS N.V.
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. GENERAL ELECTRIC COMPANY
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. MCKESSON CORPORATION
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. NXGN MANAGEMENT, LLC
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. IBM WATSON HEALTH
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. CERNER CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. AGFA-GEVAERT GROUP
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. WIPRO LIMITED
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. SIEMENS HEALTHCARE
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. COMARCH SA.
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Koninklijke Philips N.V.
2. GENERAL ELECTRIC COMPANY
3. NXGN Management, LLC
4. IBM Watson Health
5. McKesson Corporation
6. Cerner Corporation
7. Agfa-Gevaert Group
8. Wipro Limited
9. Siemens Healthineers
10. Comarch S.A.
11. Allscripts Healthcare Solutions
12. Cognizant Technology Solutions Corporation
13. Athenahelath, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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