Smart Hospital Market: Summary
The Global Smart Hospital Market is projected to reach a value of over USD 120.5 billion by 2027 at a CAGR of around 24.4%.
The smart hospital is refers to the technological growth and design combine to improve the patient care. It is a medical setting equipped with the advance devices as well as software to reduce the work pressure and minimize the cost related with the procedures includes hospitals. Whereas, in the healthcare sector, the smart hospital is a technological advancement which focus to provide wide range of services to get enhance healthcare services and operational efficiency.
Hence, it also being designed to minimize the pollution as well as to improve the environment, with the help of eco-friendly flooring, paints and furniture. These growth and innovation may lead to increase the demand of the market in the forecast period.
Smart Hospital Market: Drivers & Restraints
- Rising Demand of Internet of Things (IoT)
Rising demand of Internet of things (IoT) is witness to boost the growth of the market in the forecast period. Whereas, the IoT technology helps to enable the healthcare sector to implement positioning tracking, monitoring & management, intelligent recognition GPS, laser scanner as well as the various other information sensing equipment to improve treatment facilities and management. Moreover, it also helps to provide better healthcare decision as IoT collect the real-time data from the healthcare devices that enable specialist to get the correct diagnosis in the hospital environment.
Furthermore, it also offers a remote health monitoring through the remote monitoring devices as well as it can enable predictive maintenance of hospital assets, and connected healthcare devices. Hence, the IoT lead to make healthcare sector faster, more patient-centric and more affordable for the patients. These trend and development may lead to create a significant growth of the market in the projected period.
- Cyber Threat in Smart Hospitals
One of the major key concern of the market is the cyber threat on smart hospitals which may hamper the market growth. However, the cyber security is always been a major concern for the healthcare sector. As the data that present is very sensitive and it lead to direct impact on the health of the individuals. Moreover, with growing numbers of interconnectedness in the world may lead to increase the attack vendors.
Furthermore, the malicious attacks are also a major concern issue for the organization operation, staff and the patients. Hence these may create a major restraining factor for the growth of the market in the forecast period.
Smart Hospital Market: Key Segments
- Segmentation based on Component: Hardware, Systems & Software and Services.
- Segmentation based on Connectivity: Wired and Wireless.
- Segmentation based on Product: Smart Pill, mHealth, Telemedicine, and Electronic Health Record.
- Segmentation based on Application: Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Outpatient Vigilance and Electronic Health Record & Clinical Workflow.
- Segmentation based on Artificial Intelligence: Offering, Technology and Application.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Smart Hospital Market: Report Scope
The report on the smart hospital market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Connectivity, Product, Application, Artificial Intelligence, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- GENERAL ELECTRIC COMPANY (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Koninklijke Philips NV
- Honeywell International Inc.
- SAP SE
- Qualcomm Technologies, Inc.
- Stanley Black & Decker, Inc. (STANLEY Healthcare)
- Allscripts Healthcare, LLC
- Cerner Corporation
- Other Key Companies
- McKesson Corporation
- Proteus Digital Health
Smart Hospital Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Smart Hospital Market, by Component
- Systems & Software
- Consulting Services
- Integration Services
- Support and Maintenance Services
Smart Hospital Market, by Connectivity
Smart Hospital Market, by Product
- Smart Pill
- Electronic Health Record
Smart Hospital Market, by Application
- Remote Medicine Management
- Medical Connected Imaging
- Medical Assistance
- Outpatient Vigilance
- Electronic Health Record & Clinical Workflow
Smart Hospital Market, by Artificial Intelligence
- Natural Language Processing (NLP)
- Context-Aware Processing
- Deep Learning
Smart Hospital Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Smart Hospital Market Providers
- Smart Hospital Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Smart Hospital Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SMART HOSPITAL MARKET STUDY