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Global Smart Hospital Market to hit US$ 83.1 billion by 2026 – GMI Research

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Global Smart Hospital Market to hit US$ 83.1 billion by 2026 – GMI Research

October 03
19:16 2019
Global Smart Hospital Market to hit US$ 83.1 billion by 2026 - GMI Research
Global Smart Hospital Market, By Application Type (Remote Medicine Management, Electronic Health Record & Clinical Workflow, Outpatient Vigilance, Medical Connected Imaging, Medical Assistance), By Connectivity (Wired and Wireless), By Component (Hardware and Software & Services) and Geography – Opportunities & Forecast, 2019-2026

GMI Research has published a new study titled “Global Smart Hospital Market, By Application Type (Remote Medicine Management, Electronic Health Record & Clinical Workflow, Outpatient Vigilance, Medical Connected Imaging, Medical Assistance), By Connectivity (Wired and Wireless), By Component (Hardware and Software & Services) and Geography – Opportunities & Forecast, 2019-2026”, which orates the future prospects set to strike the Smart Hospital Market during the forecast period.

Smart Hospital is a hospital that depends on automated and optimised process based on an ICT environment of interconnected devices and assets, explicitly based on Internet of things (IoT), to enhance existing patient care solution and launch new capabilities. The global Smart Hospital market was valued at USD 22.2 billion in 2018, and is projected to reach USD 83.1 billion by 2026, growing at a CAGR of 18.0% during 2019-2026.

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The major key factors contributing to the market growth includes cloud-based computing services and data storage, RFID (Radio Frequency Identification), Machine Learning, Artificial intelligence penetration in healthcare and others. Moreover, Governments ’programs and initiatives for the introduction and implementation of IT solutions and services in today’s healthcare system, increased government spending on hospitals and healthcare system, growing awareness in the patients regarding technology and increased number of skilled IT experts are major factors favouring the adoption of healthcare IT solutions in the emerging markets across the globe.

Based on Application type, Outpatient Vigilance is anticipated to lead the market during 2019-2026
Outpatient Vigilance segment is expected to hold maximum share in the market during the forecast period due to technological advancement in the field of healthcare services. However, the highest growth rate is predicted to be exhibited by medical assistance segment during the forecast period owing to surging adoption of advanced services among healthcare professionals and patients due to their high accuracy and technological advancement. Additionally, wide availability of technically advanced equipment, products and services and treatment and rising demand for accurate and smart diagnosis is likely to push the growth of global Smart Hospital market in the forecast years.

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Based on Connectivity, Wireless connectivity segment is anticipated to lead the market during 2019-2026
Wireless connectivity segment is expected to hold maximum share in the market during the forecast period due to technological advanced services with the help of Wi-Fi, Bluetooth, RFID etc and avoids creating a bundle of wires, technological error percentage reduces. Wired segment is predicted to exhibit a moderate growth rate during the forecast period owing to high connectivity ratio.

Based on component type, software and services segment dominates the market, and is projected to grow at a significant rate during 2019-2026
Software and services segment is expected to hold maximum share in the market during the forecast period due to software advancement in the field of healthcare services. However, the highest growth rate is predicted to be exhibited by hardware segment during the forecast period owing to surging adoption of advanced hardware products like Hybrid Operating Room.

The companies are focusing on advanced healthcare services and carrying out innovation in hardware launches to maintain their leadership in global Smart Hospital market.

North America held the largest market share in global Smart Hospital market in 2018 owing to the well-established and aware healthcare services and infrastructure and rise in adoption of artificial intelligence software and devices in across various hospitals settings. Rest of the World is predicted grow at a moderate rate in the next few years.

Various notable players operating in global Smart Hospital market include Siemens AG, Microsoft Corporation, SAP SE, SAMSUNG Group, Qualcomm Life, Inc, Stanley Healthcare, Intel Corporation, Medtronic, Philips N.V, Cerner Corporation among others.

The Global Smart Hospital Market has been segmented on the basis of application, connectivity, component type and key geographies. Based on application type, the market comprises of Remote Medicine Management, Electronic Health Record & Clinical Workflow, Outpatient Vigilance, Medical Connected Imaging, Medical Assistance. The Connectivity includes Wired and Wireless. The component type includes Hardware and Software & Services.

Key questions answered in this research report:
• At what pace is the Smart Hospital market growing worldwide?
• What will be the growth trend in future? What are the key drivers and restraints in the current market?
• What will be the impact of drivers and restraints in the coming years? What is the regional revenue and forecast breakdowns?
• Which are the major regional revenue pockets for growth in global Smart Hospital market?
• What are the various application areas and how they are poised to grow?

This report is segmented based on application types, connectivity type, component and region.
By Application type
• Remote Medicine Management
• Electronic Health Record & Clinical Workflow
• Outpatient Vigilance
• Medical Connected Imaging
• Medical Assistance

By Connectivity type
• Wired
• Wireless

By Component type
• Hardware
• Software & Services

By Geography
• North America
o By Application type
o By Connectivity Type
o By Component Type
o US
o Canada
o Mexico

• Europe
o By Application type
o By Connectivity Type
o By Component Type
o UK
o Germany
o Spain
o Rest of Europe

• Asia-Pacific
o By Application type
o By Connectivity Type
o By Component Type
o China
o Australia
o India
o Rest of APAC

• ROW
o By Application type
o By Connectivity Type
o By Component Type
o Brazil
o South Africa
o GCC countries

Rest of world (remaining countries of the LAMEA region)

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