Smart Hospitals Market Demand, Top Players, Industry Size, Future Growth By 2027
Smart Hospitals market was estimated US$22490 million in 2021, and it is expected to increase to US$ 56270 million by 2027, with a CAGR of 13.9% between 2022 and 2027.
The increasing adoption of latest technologies such as artificial intelligence, machine learning, the internet of things, and augmented reality in the global healthcare industry is driving the global smart hospitals market. Rising government and corporate investments to enhance hospital operational efficiency by installing latest digital technologies are also expected to drive the growth of the global smart hospitals market during the forecast period. The report also forecasts the size of the Smart Hospitals Market from 2022 to 2027.
Besides that, the increasing popularity of telehealth applications among the citizenry has resulted in increased adoption among healthcare professionals. Patients can consult with doctors from the comfort of their own homes. Furthermore, the use of AI and ML improves patient care by providing important health-related data to healthcare professionals. Furthermore, the rising number of hospital admissions due to a variety of factors is putting a strain on hospitals, necessitating the installation of smart and efficient technologies in hospitals that can provide patients with fast and reliable treatment. All of these elements are expected to drive market growth in the coming years.
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Key Market Segments of Smart Hospitals Market
By Type:
- General Services
- Specialty
By Application:
- Electronic Health Record & Clinical Workflow
- Remote Medicine Management
- Medical Connected Imaging
- Outpatient Vigilance
- Medical Assistance
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Key Takeaways of Smart Hospitals Market:
· During the forecast period, Europe is expected to be the fastest-growing market. Europe is distinguished by increased demand for latest technologies, increased adoption of digital technologies in the healthcare sector, and consumer acceptance of telemedicine. Furthermore, the increasing prevalence of chronic diseases among the population, such as cancer, diabetes, and CVDs, has significantly accelerated the growth of the European smart hospitals market.
· The high cost of software development and deployment, growing concerns about data security, the reluctance of healthcare settings to migrate from conventional to advanced systems, a shortage of IT-friendly medical employees, and the complex user experience of this system are expected to stifle market growth. In Sep 2018, EIR Healthcare, designed the world’s first application of prefabrication and modular technology of hospital rooms to ensure faster delivery and build times, and minimized budgets.
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Competitive Landscape
Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance are all included. The data points presented above are solely related to the companies' focus on the smart hospital market.
Among the major players in the Smart Hospitals Market are
· Koninklijke Philips N.V.
· GENERAL ELECTRIC COMPANY
· Medtronic
· Qualcomm Technologies Inc.
· Honeywell International Inc.
· STANLEY Healthcare
· SAP SE
· Microsoft
· Allscripts Healthcare
· LLC
· Cerner Corporation
· McKesson Corporation
· Advantech Co. Ltd
· Proteus Digital Health
· AdhereTech.
· Enlitic Inc.
· Intel Corporation,
· NVIDIA Corporation
About Industry Data Analytics : Industry Data Analytics provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.
Industry Data Analytics provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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