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Smart Hospitals Market worth $187.20 billion by 2030, growing at a CAGR of 18.35% - Exclusive Report by 360iResearch
The "Smart Hospitals Market by Connectivity (Wired, Wireless), Operation (General, Specialty, Super Specialty), Component, Application, End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.The Global Smart Hospitals Market to grow from USD 57.53 billion in 2023 to USD 187.20 billion by 2030, at a CAGR of 18.35%.
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The smart hospitals market comprises healthcare institutions that utilize advanced integrated software, smart devices, and technology-based systems to improve and automate operations, patient care, and outcomes. These hospitals leverage Internet of Things (IoT) devices, artificial intelligence (AI), machine learning (ML), and big data analytics to facilitate remote monitoring, clinical workflow automation, and enhanced patient engagement, aiming for operational efficiency and superior healthcare delivery. Increasing pressure on existing healthcare systems to manage prevalent chronic health conditions, along with rising government initiatives for digitization in healthcare infrastructure, are driving market growth. Integration of IoT in healthcare systems is also contributing to market expansion. The high cost of connected systems, privacy, security issues associated with smart hospitals, and complex data and system integration hamper market growth. Integration of 5g and blockchain technologies in healthcare facilities, along with the proliferation of smart wearables and humanoid robots, represent significant areas for growth and innovation.
In the Americas, particularly in the United States and Canada, there is a robust adoption of smart hospital technologies. Innovations in artificial intelligence (AI), the Internet of Things (IoT), and big data analytics are predominantly utilized for enhancing patient care, hospital management, and operational efficiency. The United States is at the forefront, championing telemedicine, remote monitoring, and electronic health records (EHR), fueled by favorable government policies and significant healthcare IT investments. South America, Brazil, Argentina, and Colombia are making strides in digitizing healthcare through electronic medical records (EMR), telehealth, and AI. Europe has significantly adopted technologies with an advanced smart hospital infrastructure, buoyed by strong regulatory frameworks, high healthcare spending, and widespread digital literacy. The Middle East is rapidly catching up, with significant investments in smart healthcare technologies in countries like the UAE and Saudi Arabia. In contrast, Africa is still in the early stages of adoption, with South Africa being one of the few countries showing substantial progress. The Asia-Pacific region is a dynamic and quickly evolving smart hospital market. Japan, South Korea, and Singapore are pioneers, leveraging cutting-edge technologies such as robotics, AI, and IoT to revolutionize patient care and hospital operations. China and India, with their vast populations and growing economies, are rapidly developing their healthcare infrastructure and integrating smart technologies. The region's growth is propelled by increasing healthcare expenditure, a strong focus on healthcare innovation by governments, and a burgeoning startup ecosystem driving technological advancements.
Market Segmentation & Coverage:
This research report categorizes the Smart Hospitals Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Connectivity, market is studied across Wired and Wireless. The Wireless is further studied across Bluetooth, Near Field Communication, RFID, Wi-Fi, and Zigbee. The Wireless commanded largest market share of 79.77% in 2023, followed by Wired.
Based on Operation, market is studied across General, Specialty, and Super Specialty. The General commanded largest market share of 52.70% in 2023, followed by Super Specialty.
Based on Component, market is studied across Hardware, Services, and Software. The Hardware is further studied across Implanted Medical Devices, Stationary & Supportive Medical Devices, and Wearable External Medical Devices. The Services is further studied across Consulting Services, Managed Services, Professional Services, Support & Maintenance, and Training & Education. The Hardware commanded largest market share of 36.24% in 2023, followed by Software.
Based on Application, market is studied across Electronic Health Record & Clinical Workflow, Medical Assistance, Medical Connected Imaging, Outpatient Vigilance, Patient Journey Management, and Remote Medicine Management. The Electronic Health Record & Clinical Workflow commanded largest market share of 21.84% in 2023, followed by Medical Assistance.
Based on End-User, market is studied across Patient, Payer, and Provider. The Payer commanded largest market share of 42.79% in 2023, followed by Provider.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.12% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Smart Hospitals Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Hospitals Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Smart Hospitals Market, highlighting leading vendors and their innovative profiles. These include AdhereTech, LLC, Advantech Co., Ltd., athenahealth, Inc., GE Healthcare Technologies Inc., Honeywell International Inc., Infor, Intel Corporation, International Business Machines Corporation, Koninklijke Philips N.V., Mckesson Corporation, Medtronic PLC, Microsoft Corporation, N. Harris Computer Corporation, NVIDIA Corporation, Oracle Corporation, Phoenix Mecano AG, physIQ, Qualcomm Incorporated, Reivr Fusion Ltd., Sanela Technologies Pvt. Ltd., SAP SE, Securitas AB, Siemens AG, Smart Hospital Manager, Sonar Technologies International, Techmetics Robotics, and Zyter, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Hospitals Market, by Connectivity
7. Smart Hospitals Market, by Operation
8. Smart Hospitals Market, by Component
9. Smart Hospitals Market, by Application
10. Smart Hospitals Market, by End-User
11. Americas Smart Hospitals Market
12. Asia-Pacific Smart Hospitals Market
13. Europe, Middle East & Africa Smart Hospitals Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Smart Hospitals Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Hospitals Market?
3. What is the competitive strategic window for opportunities in the Smart Hospitals Market?
4. What are the technology trends and regulatory frameworks in the Smart Hospitals Market?
5. What is the market share of the leading vendors in the Smart Hospitals Market?
6. What modes and strategic moves are considered suitable for entering the Smart Hospitals Market?
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