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The healthcare analytics industry has witnessed significant demand for on-premises deployment model in the previous years. This could be attributed to the on-premises deployment model's high degree of security and control, as well as its ease of customisation. The cloud-based deployment model, on the other hand, is expected to be the fastest-growing segment during the forecast period, owing to its secure infrastructure, extreme bandwidth availability, and pay-as-you-go pricing facility. Due to numerous schemes, such as FPS, which helps in preventing frauds and improper payments while also saving costs, the financial application category accounted for a significant revenue share in the historical period.
The market growth of healthcare analytics is boosted by the aggressive competition among the industry key players, such as IBM Corporation (NYSE: IBM) and Oracle Corporation. The former company, IBM Corporation’s subsidiary, IBM Watson Health, is transfiguring the healthcare industry by fulfilling business and clinical needs with data, cloud, analytics, and artificial intelligence solutions. IBM Watson Health is expanding its product range and establishing itself as a market leader. The growing advancements in smart technology and the surging healthcare sector is bolstering the growth rate of the healthcare analytics industry during the forecast period.
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Allscripts Healthcare, LLC, Cerner Corporation, Ontada LLC, Koninklijke Philips N.V., IBM Corporation, and Optum, Inc., among others, are the key players in the global healthcare analytics market. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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