Smart Hospital Market Higher CAGR of 23.39% by 2023| Competitors, Business Strategy and Key Players Analysis- athenahealth, GE Healthcare, SAP SE, Siemens, Oracle Corporation, Cerner, Microsoft Corporation, Samsung Group, Qualcomm Life Inc, Philips and St

Industry Outlook and Trend Analysis

The Smart Hospital Market was worth USD 8.78 billion in 2014 and is expected to reach approximately USD 60.55 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 23.93% during the forecast period. A 'Smart Hospital' depends on upgraded and mechanized procedures, based on an ICT situation of interconnected resources like the Internet of Things (IoT) focused at enhancing existing patient care methods and creating new capacities. It depends on the enormous information transformation – the 'Fourth Industrial Revolution' – which includes connected devices with distributed computing, huge information investigation and man-made brainpower (AI) – to guarantee that the basic framework is smart.

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Drivers and Restraints

The smart hospital is the next evolution of technology in the healthcare sector which deals with a lot of accessible information. The variables that drive the market development are developing awareness of artificial intelligence, machine learning, RFID, cloud computing services and others. The radio-frequency identification permits to data on real time basis that provides support in decision making and make a protected and dependable smart hospital management information system. The real time patient management system helps in streamlining and automating patient identification procedures.

Market Segmentation

The Healthcare Information Exchange Market is segmented on the basis of components, technology and application. Based on components the market is segmented into software and hardware. In terms of technology the market is segmented into Cloud Computing, Artificial Intelligence, Internet of Things, RFID, Zigbee. Based on application the market is segmented into Remote Medicine Management and Outpatient Vigilance.

Regional Outlook and Trend Analysis

North America is one of the major regions over the world based on market share in the smart hospital market as they are incorporated with sensors that measure heart rate, light, humidity, temperature and others. The smart hospital market in Europe area is anticipated to encounter fast development over the forecast period. Though, in Asia-Pacific nations like China, Japan and India are a developing business sector for smart hospital market and anticipated that would be the most astounding CAGR over the following years as the organizations are focusing on progressions to meet highly neglected medical needs.

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Competitive Insights

The leading players in the market are athenahealth, GE Healthcare, SAP SE, Siemens, Oracle Corporation, Cerner, Microsoft Corporation, Samsung Group, Qualcomm Life Inc, Philips and Stanley Healthcare. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

The Smart Hospital Market is segmented on the basis of regions as follows-

By Region
North America
U.S.
Canada
Mexico

Europe
Germany
UK
France
Russia
Italy
Rest of Europe

Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific

South America
Brazil
Argentina
Columbia
Rest of South America

Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA

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Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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This release was published on openPR.