Loading...
Cart
0

Global Smart Hospitals Market Expected to Reach $58,777 Million by 2025

 
 

quote The recent trend and adoption of artificial intelligence software and devices in hospital settings as well as the extensive utilization of Internet of Things augments the market growth. Additionally, the increase in awareness regarding IoT (internet of things) and artificial intelligence in developing countries has also driven the market growth. quote

Garima Chandra
Senior Research Analyst, Healthcare at AMR

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Smart Hospitals Market by Component, Product, Connectivity, Application, and Artificial Intelligence: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global smart hospitals market was valued at $16,925 million in 2017, and is projected to reach $58,777 million by 2025, growing at a CAGR of 17.3% from 2018 to 2025. The service segment accounted for about four-sevenths share of the global market in 2017.

The hospitals, which are completely depended on Internet of Things and artificial intelligence to improve the existing patient care and introduce new capabilities are known as smart hospitals. In addition, smart hospitals help reduce healthcare cost, increase efficiency, reduce error, and improve patient satisfaction.

The increase in penetration of connected devices and instruments in hospitals coupled with the advancements in healthcare infrastructure are the major factors that augment the market growth. However, lack of competence in deploying internet of things (IoT) solutions in hospitals and lack of governance standards might hamper the growth of this market. Moreover, the rise in disposable income in developing economies is expected to create lucrative opportunities in the market.

Among the product segment, telemedicine accounted for about half share of the global market in 2017. This is owing to the increase in awareness regarding the potential benefits of telemedicine such as low cost diagnosis and consultation, improved access to patients, and improved quality of treatments.

Among the connectivity segment, the wireless segment accounted for about three-sevenths share of the global market in 2017. Wireless segment includes devices such as Wi-Fi, radio-frequency identification (RFID), Bluetooth, and others. These devices are utilized in hospitals for easing the clinical workflow and reducing the cost associated with the treatment and diagnosis purposes.

Key Findings of the Smart Hospitals Market :

  • The hardware segment accounted for one-fourth share of the global market in 2017 and is expected to register a high CAGR of 13.0% from 2018 to 2025.
  • The electronic health records segment accounted for about one-third share of the total market in 2017 and is expected to grow at a CAGR of 4.1% during the forecast period.
  • Among the connectivity segment, radio-frequency identification (RFID) accounted for about one-third share of the global market in 2017 and is expected to grow at a CAGR of 11.5% during the forecast period.
  • U.S. dominated the North America smart hospitals market and is projected to retain its trend throughout the forecast period.
  • Singapore dominated the Asia-Pacific smart hospitals market and is projected to retain its trend during the forecast period.

In 2017, North America was the dominant revenue contributor, owing to high prevalence rate of chronic diseases and the already increased awareness regarding Internet of Things (IoT) and artificial intelligence. Also, the increase in geriatric population, who are prone to certain diseases boosts the market growth in North America. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China.

The key players operating in the global smart hospitals market are Alphabet Inc. (Google Inc.), Enlitic Inc., General Vision, Intel Corporation, IBM Corporation, Microsoft Corporation, Nvidia Corporation, Next IT Corp., Welltok Inc. and GE healthcare. Other players operating in the value chain are Adheretech, Allscripts, Cerner Corporation, Diabetizer, Medtronic, Proteus Digital Health, and Qualcomm Life.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Abhinav Rautela
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
mediacommunications@alliedanalytics.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Smart Hospitals Market by Component (Hardware, System & Software, and Service), Product (Smart Pill, mHealth, Telemedicine, and Electronic Health Record), Connectivity (Wired and Wireless), Application (Remote Medicine Management Medical Assistance, Medical Connected Imaging, Electronic Health Record & Clinical Workflow, and Others) and Artificial Intelligence (Offering, Technology, and Application) - Global Opportunity Analysis and Industry Forecast, 2017-2025 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Global Smart Hospitals Market"
Purchase Enquiry