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 SaaS models.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.
(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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