North America Diagnostic Analytics Market Size, Share & Trends Analysis Report By Component, By Deployment (Cloud-Based, On-Premises, and Hybrid), By End-User, By Enterprise Size, By Technology, By Country and Growth Forecast, 2024 - 2031

North America Diagnostic Analytics Market Size, Share & Trends Analysis Report By Component, By Deployment (Cloud-Based, On-Premises, and Hybrid), By End-User, By Enterprise Size, By Technology, By Country and Growth Forecast, 2024 - 2031

The North America Diagnostic Analytics Market would witness market growth of 30.2% CAGR during the forecast period (2024-2031).

The US market dominated the North America Diagnostic Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $25,732.6 million by 2031. The Canada market is experiencing a CAGR of 32.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 31.9% during (2024 - 2031).

This market is experiencing significant growth, driven by the increasing need for businesses and organizations to gain deeper insights from data to enhance decision-making and operational efficiency. These analytics refers to examining data to identify the root causes of issues or events. Unlike descriptive analytics, which focuses on what happened, and predictive analytics, which forecasts future outcomes, these analytics digs into historical data to understand why something occurred.

These analytics is crucial in improving the healthcare sector's patient care and operational efficiency. Healthcare providers can identify patterns and trends that help diagnose diseases, predict treatment outcomes, and manage patient health by analyzing patient data. For example, these analytics can help hospitals determine the reasons behind high readmission rates or why certain treatments are less effective for specific patient groups.

In Mexico, the e-commerce sector is experiencing significant expansion. Valued at USD 26.2 billion in 2022, the domestic e-commerce industry saw a 23% increase over the previous year. The number of e-commerce users in Mexico also grew to 63 million in 2022, an increase of 5.5 million from 2021. This rapid growth is projected to continue, with the sector's value expected to reach USD 70.4 billion by 2027. In Canada, the government has announced a substantial investment of $196.1 billion over ten years to improve healthcare services, including $46.2 billion in new funding for provinces and territories. Over ten years, $2.5 billion will be invested to support Indigenous priorities and complementary federal support, bringing the total investment to $198.6 billion. This significant funding boost aims to enhance the quality and accessibility of healthcare services nationwide. In conclusion, the rising e-commerce industry in Mexico and the substantial healthcare budget in Canada are key drivers of growth in the diagnostic analytics market.

Based on Component, the market is segmented into Software and Services (Managed Servicess and Professional Servicess). Based on Deployment, the market is segmented into Cloud-Based, On-Premises, and Hybrid. Based on End-User, the market is segmented into Healthcare Providers, Manufacturers, Financial Institutions, Retailers, Energy & Utility Companies, and Other End-User. Based on Enterprise Size, the market is segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. Based on Technology, the market is segmented into Machine Learning (ML), Artificial Intelligence (AI), Natural Language Processing (NLP), Data Mining, Big Data Analytics, Statistical Analysis, and Other Technology. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• SAS Institute Inc.
• Microsoft Corporation
• IBM Corporation
• SAP SE
• Google LLC (Alphabet Inc.)
• Oracle Corporation
• Salesforce, Inc.
• MicroStrategy, Inc.
• Sisense, Inc.
• Teradata Corporation

North America Diagnostic Analytics Market Report Segmentation

By Component

• Software
• Services
• Managed Servicess
• Professional Servicess

By Deployment

• Cloud-Based
• On-Premises
• Hybrid

By End-User

• Healthcare Providers
• Manufacturers
• Financial Institutions
• Retailers
• Energy & Utility Companies
• Other End-User

By Enterprise Size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Technology

• Machine Learning (ML)
• Artificial Intelligence (AI)
• Natural Language Processing (NLP)
• Data Mining
• Big Data Analytics
• Statistical Analysis
• Other Technology

By Country

• US
• Canada
• Mexico
• Rest of North America