Smart Hospitals Market Market Size, Growth Projections, Trends, Company Analysis and Forecast 2021 to 2030
According to Precedence Research, the global smart hospitals market size is predicted to reach over USD 164.88 billion by 2030, growing at a CAGR of 17.2% from 2021 to 2030.
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Growth Factors
The global smart hospitals market is primarily driven by the rising adoption of the latest technologies such as artificial intelligence, machine learning, internet of things, and augmented reality in the global healthcare industry. The rising government and corporate investments to increase the operational efficiency of the hospitals by installing latest digital technologies in the hospitals is also expected to drive the growth of the global smart hospitals market during the forecast period.
Moreover, the rising popularity of telehealth applications among the population has resulted in its increased adoption among the healthcare professionals. The patients can receive the doctors’ consultations from the comfort of their home.
Report Highlights
- Based on the component, the services is estimated to be the most opportunistic segment, owing to the rising adoption of the third-party service providers for the efficient handling of various smart hardware and software devices. This is so because of the lack of proper knowledge among the healthcare professionals regarding the handling and management of the smart devices and software. Moreover, the third-party service provider helps in cost reduction, improve profitability, and enhance patient care services.
- Based on the product, the telemedicine segment dominated the market in 2020. This is attributable to increased adoption of the telemedicine platforms among the consumers and the healthcare professionals especially during the COVID-19 pandemic. The worldwide lockdown and travelling restricts exponentially boosted the adoption of telemedicine platform across the globe. This trend is expected to continue during the forthcoming future and this segment will retain its dominating position.
- Based on the connectivity, the wireless segment was the dominating segment and is expected to be the fastest-growing segment during the forecast period. The increased adoption of various wireless technologies such as AI, IoT, augmented reality, and cloud-based servers, which mostly depends on wireless communication, is a major driving force of this segment. The rising investments on the development of IT and telecommunications infrastructure is fueling the growth of this segment.
- North America dominated the global smart hospitals market during the forecast period. The rising investments on the adoption of latest technologies in the healthcare sector coupled with the presence of strong and developed telecommunication infrastructure has driven the market growth in the region.
- Europe is estimated to be the fastest-growing market during the forecast period. Europe is characterized by the higher demand for the latest technologies, increased adoption of digital technologies in the healthcare sector, and growing popularity of the telemedicine among the consumers.
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OBJECTIVES OF THE STUDY
- To analyze and forecast the Smart Hospitals market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Smart Hospitals market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Smart Hospitals market
Research Methodology
- Market estimate for 2021
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Major Players Covered in this Report
The updated market research report on Smart Hospitals market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
The major players operating in the market are Microsoft, Allscripts, Medtronic, Honeywell Life Care Solutions, GE Healthcare, SAP, Qualcomm Life, Cerner Corporation, Philips, Stanley Healthcare.
Segments Covered in the Report
By Component
- Software& systems
- Hardware
- Service
By Product
- Smart Pills
- Telemedicine
- M Health
- Electronic Health Record
By Connectivity
- Wireless
- Wired
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Smart Hospitals Market
5.1. COVID-19 Landscape: Smart Hospitals Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Smart Hospitals Market, By Product
8.1. Smart Hospitals Market, by Product Type, 2021-2030
8.1.1. Smart Pills
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Telemedicine
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. mHealth
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Electronic Health Record
8.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Smart Hospitals Market, By Component
9.1. Smart Hospitals Market, by Component, 2021-2030
9.1.1. Software& systems
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Hardware
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Service
9.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Smart Hospitals Market, By Connectivity
10.1. Smart Hospitals Market, by Connectivity, 2021-2030
10.1.1. Wireless
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Wired
10.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Smart Hospitals Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.2. Market Revenue and Forecast, by Component (2019-2030)
11.1.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.2. Market Revenue and Forecast, by Component (2019-2030)
11.2.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Component (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Component (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.2. Market Revenue and Forecast, by Component (2019-2030)
11.3.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Component (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Component (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Component (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Component (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Component (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Connectivity (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Component (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Connectivity (2019-2030)
Chapter 12. Company Profiles
12.1. Microsoft
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Allscripts
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Medtronic
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Honeywell Life Care Solutions
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. GE Healthcare
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SAP
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Qualcomm Life
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Cerner Corporation
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Philips
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Stanley Healthcare
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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