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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Smart Hospital Market: By Component, By Technology, By Application, By Connectivity, and Geography
Smart Hospital Market: By Component, By Technology, By Application, By Connectivity, and Geography
Smart Hospital Market size was valued at US$ 67500.60 million by 2023 and is poised to grow at a CAGR of 24% from 2024- 2030. owing increasing occurrence of chronic diseases and rising need for the cost-effective solutions in hospitals and the modernization of healthcare infrastructure fuels demand for smart hospitals. Moreover, Development of IoT technologies in healthcare, increasing penetration of connected devices and instruments in hospitals and rising government investments in healthcare sector and growth potential in emerging countries boosts the growth of the market over the forecast period. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Smart hospitals are handling the epidemic better than non-smart hospitals. Because of the use of technology, they are able to maintain more social distance. Physicians can obtain real-time data from patients without having to visit them in their beds. In comparison to hospitals that do not use technology, these institutions can also inform the entire number of beds that are accessible. Social distance regulations, as well as other limits imposed by the COVID-19 outbreak, provide smart hospitals with more chances for remote consultations, symptom tracking, and follow-ups.
Study Period
2024-2030Base Year
2023CAGR
24%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Healthcare IT systems and instruments are fairly high-priced solutions. Moreover, the maintenance and software update costs of these systems are on higher side. Support and maintenance services, which includes software upgrades according to users requirement, represent a recurring expenditure amounting to almost 30% of the total cost of the ownership. Moreover, lack of internal IT expertise in the healthcare industry and high cost of connected systems, increasing interoperability risk and lack of governance standards are the major impeding factors for the market.
North America accounted for larger revenue share in global smart hospital market with significant CAGR and is expected to grow over the forecast years owing to the presence of well-established healthcare infrastructure and availability of skilled operators and presence of renowned hospitals in the region and increasing number of hospitals and surgical centers in the region and mergers and acquisitions among the market players fuels the growth of the market over the forecast period. Asia Pacific is expected to significant growth over the forecast years due to growth of the healthcare industry in China, Japan, India, and South Korea.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 67500.60 million |
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Market CAGR |
24% |
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By Component |
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By Technology |
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By Application |
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By Connectivity |
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By Region |
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The smart hospital market size was valued at US$ 67500.60 million in 2023 and is set to grow at a significant CAGR of 24% from 2024-2030.
Medtronic, Philips, GE Healthcare, Siemens AG, Qualcomm Life
North America is the fastest-growing region in the market
| 1. Executive Summary |
| 2. Global Smart Hospital Market Introduction |
| 2.1.Global Smart Hospital Market - Taxonomy |
| 2.2.Global Smart Hospital Market - Definitions |
| 2.2.1.Component |
| 2.2.2.Technology |
| 2.2.3.Application |
| 2.2.4.Connectivity |
| 2.2.5.Region |
| 3.Global Smart Hospital Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Smart Hospital Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Smart Hospital Market By Component, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Software |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hardware |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Services |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Smart Hospital Market By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Cloud Computing |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Artificial Intelligence |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Wearable Technologies |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Radio Frequencies Identification |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Smart Hospital Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Remote Medicine Management |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Medical Connected Imaging |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Medical Assistance |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Electronic Health Record & Clinical Work Flow |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Outpatient Vigilance |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. Global Smart Hospital Market By Connectivity, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Wired |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Wireless |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 9. Global Smart Hospital Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10. North America Smart Hospital Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Software |
| 10.1.2.Hardware |
| 10.1.3.Services |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Remote Medicine Management |
| 10.3.2.Medical Connected Imaging |
| 10.3.3.Medical Assistance |
| 10.3.4.Electronic Health Record & Clinical Work Flow |
| 10.3.5.Outpatient Vigilance |
| 10.4. Connectivity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Wired |
| 10.4.2.Wireless |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11. Europe Smart Hospital Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Software |
| 11.1.2.Hardware |
| 11.1.3.Services |
| 11.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Cloud Computing |
| 11.2.2.Artificial Intelligence |
| 11.2.3.Wearable Technologies |
| 11.2.4.Radio Frequencies Identification |
| 11.2.5.Others |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Remote Medicine Management |
| 11.3.2.Medical Connected Imaging |
| 11.3.3.Medical Assistance |
| 11.3.4.Electronic Health Record & Clinical Work Flow |
| 11.3.5.Outpatient Vigilance |
| 11.4. Connectivity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Wired |
| 11.4.2.Wireless |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 11.5.6.Rest of EU |
| 12. Asia Pacific (APAC) Smart Hospital Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Software |
| 12.1.2.Hardware |
| 12.1.3.Services |
| 12.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Cloud Computing |
| 12.2.2.Artificial Intelligence |
| 12.2.3.Wearable Technologies |
| 12.2.4.Radio Frequencies Identification |
| 12.2.5.Others |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Remote Medicine Management |
| 12.3.2.Medical Connected Imaging |
| 12.3.3.Medical Assistance |
| 12.3.4.Electronic Health Record & Clinical Work Flow |
| 12.3.5.Outpatient Vigilance |
| 12.4. Connectivity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Wired |
| 12.4.2.Wireless |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13. Middle East and Africa (MEA) Smart Hospital Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Software |
| 13.1.2.Hardware |
| 13.1.3.Services |
| 13.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Cloud Computing |
| 13.2.2.Artificial Intelligence |
| 13.2.3.Wearable Technologies |
| 13.2.4.Radio Frequencies Identification |
| 13.2.5.Others |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Remote Medicine Management |
| 13.3.2.Medical Connected Imaging |
| 13.3.3.Medical Assistance |
| 13.3.4.Electronic Health Record & Clinical Work Flow |
| 13.3.5.Outpatient Vigilance |
| 13.4. Connectivity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Wired |
| 13.4.2.Wireless |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14. Latin America Smart Hospital Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Software |
| 14.1.2.Hardware |
| 14.1.3.Services |
| 14.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Cloud Computing |
| 14.2.2.Artificial Intelligence |
| 14.2.3.Wearable Technologies |
| 14.2.4.Radio Frequencies Identification |
| 14.2.5.Others |
| 14.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Remote Medicine Management |
| 14.3.2.Medical Connected Imaging |
| 14.3.3.Medical Assistance |
| 14.3.4.Electronic Health Record & Clinical Work Flow |
| 14.3.5.Outpatient Vigilance |
| 14.4. Connectivity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Wired |
| 14.4.2.Wireless |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Medtronic (Ireland) |
| 15.2.2.Philips (Netherlands) |
| 15.2.3.GE Healthcare (US) |
| 15.2.4.Siemens AG (Germany) |
| 15.2.5.Qualcomm Life (US) |
| 15.2.6.Allengers (India) |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.