MarketsandMarkets Presents Health Insurance Exchange (HIX) IT Market worth $2.6 Billion by 2018 http://www.marketsandmarkets.com/Market-Reports/health-insurance-exchange-it-market-218455940.html
This report studies the "Health Insurance Exchange (HIX) IT Market by Type (Public, & Private Exchanges), Phase (Implementation, QA, Operations), Component (Services, Software, Hardware), End User (Government Agencies, TPAs, Health Plans) - Trends & Global Forecasts to 2018." The market estimated at $1,609.7 Million in 2013 is expected to reach $2,656.4 Million by 2018, growing at a CAGR of 10.5% from 2013 to 2018. Browse: 73 market data tables 14 figures in-depth TOC on “Health Insurance Exchange Market” http://www.marketsandmarkets.com/Market-Reports/health-insurance-exchange-it-market-218455940.html Early buyers will receive 10% customization of reports.
Global Health Insurance Exchange (HIX) IT Market, By Type, 2012–2018 ($Million)
The Health Insurance Exchange (HIX) IT market includesthe revenue generated by the IT vendors mainly in terms of planning, designing, and implementing exchanges, system integrations, program management, operations, and maintenance. The market is driven by several factors such as federal health insurance mandates, federal funding, trend toward defined contribution model, and drive to reduce healthcare costs and make healthcare affordable, growing healthcare IT adoption, and the shift toward integrated environments. The global market is valued at an estimated $1,609 million in 2013 and is expected to grow at a CAGR of 10.5%during the forecast period (2013-2018). Growth is mainly driven by private exchanges and operational and maintenance activities for public exchanges. Cloud-based computing shows a great opportunity in the HIX market.
Despite the largest share carried by public exchanges, private exchanges overtake significantly in terms of market growth during the forecast period. The implementation phase dominates the global HIX market, by phase, in terms of revenue while operations and maintenance activities pose a great market growth potential owing to increasing post-implementation requirements such as facility support, network operations, systems management, hardware and software upgrades, storage management, system performance monitoring and reporting, trouble reporting and resolution, and disaster recovery services. Based on endusers, the market growth will be mainly driven by third party administrators (TPAs)/brokerage firms/consultancies during the forecast period. Among all HIX components, the services and software market is expected to have an edge over
hardware due to periodic software upgradation and additional features required, recurring nature of services required for ongoing operations, and increasing shifttowards cloud and SaaSmodels.Based on geography, the U.S. dominates the market and is also expected to grow at thehighest CAGR at least till 2018. Some leading players in the health insurance exchange IT market are Accenture (Ireland), CGI Group, Inc. (Canada), Deloitte (U.S.), IBM Corporation (U.S.), Infosys (India), MAXIMUS (U.S.), Oracle Corporation (U.S.), Xerox Corporation Ltd. (U.S.), and other emerging players such as Connecture (U.S.), Cognosante (U.S.), hCentive (U.S.), Hewlett-Packard (U.S.), Hexaware Technologies (India), Inovalon, Inc. (U.S.), KPMG (Netherlands), Microsoft Corporation (U.S.), Noridian Healthcare Solutions, LLC (U.S.), Tata Consultancy Services (TCS) (India), and Wipro Limited (India), among others.
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