The market for smart hospitals is expected to grow at a CAGR of around 18.9% from 2020 to 2027 and expected to reach the market value of around US$ 109.9 Bn by 2027.
Smart hospitals are those optimized, redesigned, and built with new clinical processes, management systems, and infrastructure. These are particularly designed to enable the underlying digitized networking infrastructure of interconnected assets. The overall system is intended to provide valuable component or insights which are not possible or available earlier in order to achieve better patient care, experience, and operational efficiency. Moreover, smart hospitals encompass three important aspects of the digital world including data, insight, and access.
Market Dynamics
The modernization of healthcare infrastructure coupled with the increasing penetration of connected devices and instruments in hospitals is boosting the market growth. The rising need for cost-effective application in hospitals and the development of IoT technologies in healthcare is bolstering the market value. The rising prevalence of chronic diseases all across the globe whose patients need long-term support and consistent monitoring of health conditions is further accelerating the market value. Furthermore, favorable government support in terms of investments in the healthcare sector as well as the high growth potential of emerging economies is anticipated to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, the high cost of connected systems and lack of competence in deploying IoT Application in hospitals are the factors projected to limit the growth to an extent over the forecast timeframe from 2020 to 2027.
Segment Instance of Global Smart Hospitals Market
Wireless Connectivity segment accounted for the major revenue share in the global Smart Hospitals Market
In 2019, the wireless segment is leading the market with maximum revenue share in the smart hospital market due to the increasing usage of software and internet-connected devices in the hospitals. The benefits associated with wireless connectivity such as remote & consistent monitoring of patients with chronic illness as well as wireless connectivity decrease the burden of complexities associated with the wired devices are some of the factors driving the market growth.
North America accounted for the maximum revenue share in the global Smart Hospitals Market
In 2019, North America held the major share (%) in terms of revenue, and the region is expected to exhibit consistent growth throughout the forecast period from 2020 to 2027. The well-established healthcare infrastructure along with the early adoption and development of healthcare sector technologies is supporting the regional market value. The high spending power of people in the developed economies of the region is further bolstering the regional market value. Additionally, the presence of major players in the region is further bolstering the regional market value.
Asia Pacific is projected to exhibit fastest growth over the forecast period
The major economies of the region including Japan, China, and India are the major contributors to the growing regional market value. The increasing investment in the healthcare sector for the development and installation of new and advanced technologies is further supporting the regional market value. The increasing number of skilled Information Technology (IT) experts in the healthcare sector of the region is further bolstering the regional market growth. The increasing prevalence of infectious diseases, cancers, genetic disorders, along with the rising medical tourism, and the adoption of e-health are additionally bolstering the regional market value.
Key Market Players
The players profiled in the report include Accenture, Cognizant, GE Healthcare, IBM, IQVIA, MaxisIT, Medtronic, Microsoft, Oracle, Philips, Qualcomm Life, SAS Institute Inc., SCIOInspire, Corp., TAKE Application Limited and Wipro Limited among others.
Market Segmentation
Market By Component
Hardware
Systems and Software
Component
Market By Technology
Cloud Computing
Artificial Intelligence
Wearable Technologies
Radio Frequencies Identification
Others
Market By Application
Remote Medicine Management
Medical Connected Imaging
Medical Assistance
Electronic Health Record & Clinical Workflow
Outpatient Vigilance
Market By Connectivity
Wired
Wireless
Market By Geography
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Smart Hospitals
1.1. Definition and Scope
1.1.1. Definition of Smart Hospitals
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Smart Hospitals Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Smart Hospitals Market By Component
1.2.3. Smart Hospitals Market By Technology
1.2.4. Smart Hospitals Market By Application
1.2.5. Smart Hospitals Market By Connectivity
1.2.6. Smart Hospitals Market by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Smart Hospitals Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Smart Hospitals Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Regulatory Compliance
3.9. Competitive Landscape, 2019
3.9.1. Player Positioning Analysis
3.9.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Smart Hospitals Market By Component
4.1. Introduction
4.2. Smart Hospitals Revenue By Component
4.2.1. Smart Hospitals Revenue (US$ Mn) and Forecast, By Component, 2016-2027
4.2.2. Hardware
4.2.2.1. Hardware Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
4.2.3. Systems and Software
4.2.3.1. Systems and Software Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
4.2.4. Services
4.2.4.1. Services Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 5. Smart Hospitals Market By Technology
5.1. Introduction
5.2. Smart Hospitals Revenue By Technology
5.2.1. Smart Hospitals Revenue (US$ Mn) and Forecast, By Technology, 2016-2027
5.2.2. Cloud Computing
5.2.2.1. Cloud Computing Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.3. Artificial Intelligence
5.2.3.1. Artificial Intelligence Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.4. Wearable Technologies
5.2.4.1. Wearable Technologies Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.5. Radio Frequencies Identification
5.2.5.1. Radio Frequencies Identification Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.6. Others
5.2.6.1. Others Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 6. Smart Hospitals Market Revenue By Application
6.1. Introduction
6.2. Smart Hospitals Revenue (US$ Mn) By Application
6.2.1. Smart Hospitals Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
6.2.2. Remote Medicine Management
6.2.2.1. Remote Medicine Management Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.3. Medical Connected Imaging
6.2.3.1. Medical Connected Imaging Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.4. Medical Assistance
6.2.4.1. Medical Assistance Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.5. Electronic Health Record & Clinical Workflow
6.2.5.1. Electronic Health Record & Clinical Workflow Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.6. Outpatient Vigilance
6.2.6.1. Outpatient Vigilance Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 7. Smart Hospitals Market By Connectivity
7.1. Introduction
7.2. Smart Hospitals Revenue (US$ Mn) By Connectivity
7.2.1. Smart Hospitals Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
7.2.2. Wired
7.2.2.1. Wired Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.3. Wireless
7.2.3.1. Wireless Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 8. North America Smart Hospitals Market By Country
8.1. North America Smart Hospitals Overview
8.2. U.S.
8.2.1. U.S. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
8.2.2. U.S. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
8.2.3. U.S. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.2.4. U.S. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
8.3. Canada
8.3.1. Canada Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
8.3.2. Canada Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
8.3.3. Canada Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
8.3.4. Canada Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
8.4. North America PEST Analysis
CHAPTER 9. Europe Smart Hospitals Market By Country
9.1. Europe Smart Hospitals Market Overview
9.2. U.K.
9.2.1. U.K. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
9.2.2. U.K. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
9.2.3. U.K. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
9.2.4. U.K. Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
9.3. Germany
9.3.1. Germany Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
9.3.2. Germany Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
9.3.3. Germany Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
9.3.4. Germany Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
9.4. France
9.4.1. France Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
9.4.2. France Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
9.4.3. France Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
9.4.4. France Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
9.5. Spain
9.5.1. Spain Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
9.5.2. Spain Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
9.5.3. Spain Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
9.5.4. Spain Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
9.6. Rest of Europe
9.6.1. Rest of Europe Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
9.6.2. Rest of Europe Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016-2027
9.6.3. Rest of Europe Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016-2027
9.6.4. Rest of Europe Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016-2027
9.7. Europe PEST Analysis
CHAPTER 10. Asia Pacific Smart Hospitals Market By Country
10.1. Asia Pacific Smart Hospitals Market Overview
10.2. China
10.2.1. China Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.2.2. China Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.2.3. China Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.2.4. China Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.3. Japan
10.3.1. Japan Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.3.2. Japan Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.3.3. Japan Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.3.4. Japan Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.4. India
10.4.1. India Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.4.2. India Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.4.3. India Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.4.4. India Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.5. Australia
10.5.1. Australia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.5.2. Australia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.5.3. Australia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.5.4. Australia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.6. South Korea
10.6.1. South Korea Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.6.2. South Korea Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.6.3. South Korea Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.6.4. South Korea Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.7. Rest of Asia-Pacific
10.7.1. Rest of Asia-Pacific Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
10.7.2. Rest of Asia-Pacific Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
10.7.3. Rest of Asia-Pacific Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
10.7.4. Rest of Asia-Pacific Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
10.8. Asia Pacific PEST Analysis
CHAPTER 11. Latin America Smart Hospitals Market By Country
11.1. Latin America Smart Hospitals Market Overview
11.2. Brazil
11.2.1. Brazil Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
11.2.2. Brazil Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
11.2.3. Brazil Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
11.2.4. Brazil Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
11.3. Mexico
11.3.1. Mexico Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
11.3.2. Mexico Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
11.3.3. Mexico Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
11.3.4. Mexico Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
11.4. Rest of Latin America
11.4.1. Rest of Latin America Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
11.4.2. Rest of Latin America Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
11.4.3. Rest of Latin America Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
CHAPTER 12. Middle East & Africa Smart Hospitals Market By Country
12.1. Middle East & Africa Smart Hospitals Market Overview
12.2. Saudi Arabia
12.2.1. Saudi Arabia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
12.2.2. Saudi Arabia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
12.2.3. Saudi Arabia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
12.2.4. Saudi Arabia Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
12.3. UAE
12.3.1. UAE Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
12.3.2. UAE Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
12.3.3. UAE Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
12.3.4. UAE Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
12.4. Rest of Middle East & Africa
12.4.1. Rest of Middle East & Africa Smart Hospitals Market Revenue (US$ Mn) and Forecast By Component, 2016-2027
12.4.2. Rest of Middle East & Africa Smart Hospitals Market Revenue (US$ Mn) and Forecast By Technology, 2016 - 2027
12.4.3. Rest of Middle East & Africa Smart Hospitals Market Revenue (US$ Mn) and Forecast By Application, 2016 - 2027
12.4.4. Rest of Middle East & Africa Smart Hospitals Market Revenue (US$ Mn) and Forecast By Connectivity, 2016 - 2027
CHAPTER 13. Player Analysis Of Smart Hospitals
13.1. Smart Hospitals Market Company Share Analysis
13.2. Competition Matrix
13.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2. New Product Launches and Product Enhancements
13.2.3. Mergers And Acquisition In Global Smart Hospitals Market
13.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14. COMPANY PROFILE
14.1. Accenture
14.1.1. Company Snapshot
14.1.2. Business Overview
14.1.3. Financial Overview
14.1.3.1. Revenue (US$ Mn), 2019
14.1.3.2. Accenture 2019 Smart Hospitals Business Regional Distribution
14.1.4. Product/ Service and Specification
14.1.5. Recent Developments & Business Strategy
14.1.6. Manufacturing Plant Footprint Analysis
14.2. Cognizant
14.3. GE Healthcare
14.4. IBM
14.5. IQVIA
14.6. MaxisIT
14.7. Medtronic
14.8. Microsoft
14.9. Oracle
14.10. Philips
14.11. Qualcomm Life
14.12. SAS Institute Inc.
14.13. SCIOInspire, Corp
14.14. TAKE Application Limited
14.15. Wipro Limited
14.16. Others
