Smart Hospital Market Anticipated To Witness Robust Growth, Surpassing $157.37 Billion By 2029

The Smart Hospital Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Smart Hospital Market Size and Its Estimated Growth Rate?
The scale of the smart hospital market has seen enormous growth recently. It is projected to increase from $58.58 billion in 2024 to $71.56 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 22.2%. Factors such as initiatives for patient safety, the need for consolidated healthcare solutions, scarcity of workforce, digital transformation efforts, and escalating regulatory stipulations have contributed to the growth witnessed in the historic period.

The anticipated size of the smart hospital market predicts a steep escalation in the upcoming years, hitting a noteworthy $157.37 billion in 2029, with a comprehendible compound annual growth rate (CAGR) of 21.8%. Several factors contributing to this growth in the forecast period are the emphasis on preventive care, the need for real-time data, the rapid spread of iomt devices, escalating healthcare expenses, and an increasing aging population. Key trends for the forecast period include telemedicine and remote patient monitoring, applications of AI and machine learning, healthcare IoT security, wearable health devices, and the infrastructure of smart hospitals.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13734

How Are Emerging Segments Shaping the Smart Hospital Market Landscape?
The smart hospital market covered in this report is segmented -

1) By Component: Hardware, Software System, Services
2) By Technology: Cloud Computing, Artificial Intelligence, Wearable Technologies, Radio Frequencies Identification, Other Technologies
3) By Connectivity: Wired, Wireless
4) By Application: Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record, Outpatient Vigilance

Subsegments:
1) By Hardware: Medical Devices, Internet Of Things (IoT) Devices, Wearable Health Monitors, Infrastructure Equipment (Sensors, Cameras)
2) By Software System: Electronic Health Records (EHR), Hospital Management Systems, Patient Engagement Software, Data Analytics And Reporting Tools
3) By Services: Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Education Services

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13734&type=smp

Which Growth Factors Are Influencing Smart Hospital Market Expansion?
The proliferation of internet-connected medical devices and equipment in healthcare facilities is predicted to fuel the expansion of the smart hospital market in the future. These connected devices and instruments refer to a network of hospital equipment connected to the internet, which is used to amass data across various administrative and medical practices. The burgeoning insertion of these devices into hospitals plays a crucial role in shaping the evolution of smart hospitals by enhancing patient care, boosting operational efficiency, and promoting data-driven decision processes. In October 2023, the Food and Drug Administration, a federal agency based in the United States, updated their list of artificial intelligence (AI) and machine learning-enabled medical devices available in the US market, with an addition of 171 devices by October of the same year. This spike constitutes a significant rise compared to the previous year, with the count of AI/ML-enabled devices predicted to climb by 30% or more. As a consequence, the escalating presence of connected devices and equipment in healthcare facilities is pushing the growth of the smart hospital market.

Who Are the Dominant Players Across Different Smart Hospital Market Segments?
Major companies operating in the smart hospital market report are Apple Inc., Alphabet Inc., Microsoft Corporation, AT&T Inc., Intel Corporation, The International Business Machines Corporation, Cisco Systems, Inc., Qualcomm Life, SAP SE, Medtronic PLC, Nvidia Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., GE Healthcare, Stanley Healthcare, Honeywell Life Care Solutions, Cerner Corporation, General Vision, Allscripts Healthcare Solutions, Athenahealth, Brooks Automation, AirStrip Technologies Inc., Welltok Inc., Enlitic Inc., Next IT Corp.

What Smart Hospital Market Trends Are Gaining Traction Across Different Segments?
The focus of key players in the smart hospitals market is now on the formation of strategic alliances to generate smart hospital solutions. Such strategic alliances constitute cooperative relationships established between two or more parties (usually businesses), with a shared purpose of obtaining mutual advantages. To illustrate, LifeSigns, a health-tech startup from the United States, entered a partnership with Amala Hospital, a reputed Indian source of orthopaedic treatments and therapeutic services, in March 2023. The partnership aimed at the initiation of a smart ward powered by LifeSigns' iMS technology that uses wearable wireless sensors for constant patient monitoring. This advanced system replaces outdated wired models, enhancing patient comfort and bolstering data gathering efficiency.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/smart-hospital-global-market-report

Which Geographic Regions Are Expected to Dominate the Smart Hospital Market in the Coming Years?
North America was the largest region in the smart hospital market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart hospital market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Hospital Market?
2. What is the CAGR expected in the Smart Hospital Market?
3. What Are the Key Innovations Transforming the Smart Hospital Industry?
4. Which Region Is Leading the Smart Hospital Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.