The global HIX ITmarket is valued at an estimated $1,609 million in 2013 and is expected to grow at a CAGR of 10.5% in the next five years.
Dallas, Texas (PRWEB) March 25, 2014
The global HIX IT market is valued at an estimated $1,609 million in 2013 and is expected to grow at a CAGR of 10.5% in the next five years.
The global HIX IT market is mainly categorized by exchange type, phase, component, and end user. Private exchanges are expected to register the fastest growth rate among the HIX market by exchange type during the forecast period. Their favorable growth is attributed to the increasing shift of big employers such as Walgreen and Time Warner towards private exchanges to reduce health benefits administration costs and provide their employees with multiple plan options as per their requirements. Within private exchanges, multi-carrier exchanges primarily sponsored by third-party administrators such as brokers or benefits consultants are expected to grow at the highest CAGR during the forecast period.
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The other high-growth market segments in the HIX IT market include the operations and maintenance segment which is expected to grow at a highest CAGR during the forecast period. The factors contributing to its growth include ongoing operation cost for public as well as private exchanges post its implementation. The HIX services market is also projected to register a double-digit growth in the next five years, driven by the shift toward cloud-based services.
The U.S. shows the greatest market potential in the near future. However, countries such as Japan, China, India, and Philippines are expected to offer potential growth opportunities to HIX stakeholders. In Japan, various favorable government initiatives are focusing on strengthening healthcare services such as the e-Japan policy, new IT reform strategy, and iJApan Strategy 2015. The healthcare IT expenditure in China grew from $135 billion in 2006 to $250 billion in 2010. In addition, the Indian government annually spends approximately 5% of its GDP on the healthcare sector and has approved 100% foreign direct investment (FDI) for setting up hospitals in India since 2000. Also, it is among the leading IT outsourcing destinations. All the above mentioned factors contribute to the potential growth opportunity of the HIX market.
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The competitive landscape covers the growth strategies adopted by industry players in the last three years. The company profiles comprise the basic views on the key players in the HIX market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help the key players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Major Points from Table of Contents
10 Company Profiles (Overview, Financials, Products & Services, Strategy, & Developments)
10.1 Accenture PLC
10.2 CGI Group, Inc.
10.3 Connecture Inc.
10.4 Cognosante, LLC
10.6 Hcentive, Inc.
10.9 Oracle Corporation
10.10 Xerox Corporation
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