Smart Hospital Market Overview:
The smart hospital is the next technological revolution in the health sector, which requires the handling of large amounts of available data. Radio-frequency identification provides real-time information that facilitates decision-making and creates a safe and reliable information system for hospital administration. The real-time patient management system facilitates the automation and simplification of patient identification processes. The global market for smart hospitals is divided into components, technology, connectivity and region. The components are segmented into hardware, software, service and others. The technologies are segmented into artificial intelligence, cloud computing, radio frequency identification, portable technologies, ZigBee technologies, the internet of things and more. The connectivity is segmented wired, wireless and others. Government initiatives to implement IT solutions in the health sector, increasing public spending on health systems and increasing the number of qualified IT experts are the main factors that drive Adopting IT solutions for the health sector in emerging markets.
The smart hospital market was valued at USD XX million in 2017 and projected to reach USD XX million by 2021 growing at a CAGR of XX% during the forecast period 2017 to 2021.
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Drivers and restraints:
Machine learning, artificial intelligence, cloud computing services, RFID, etc., are the main drivers of market growth. The increase in technological advances in the healthcare sector, together with the growing need for cost-effective solutions in hospitals, is driving the growth of the market. However, the lack of governance standards and the lack of skills to implement IoT solutions in hospitals are holding back the growth of the market. In addition, increased investment in the health sector, particularly in developing economies creates lucrative opportunities in the market.
The regional analysis of the smart hospital market is under study for regions such as Asia-Pacific, North America, Europe and the rest of the world. North America is one of the major regions of the world in terms of market share in the smart hospital market. As an intelligent hospital, it is integrated with sensors that measure heart rate, temperature, light, humidity, etc. The market for smart hospitals in Europe is expected to grow rapidly in the next period. Bearing in mind that countries in the Asia-Pacific region, such as China, Japan and India, constitute an emerging market for the smart hospital market and are expected to reach the highest annual compound growth rate (CAGR) in years to come, as long as companies are interested in targeting the smart hospital in this market.
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The main players in the global smart hospital market are Siemens AG (Germany), Qualcomm Life Inc. (United States), Athenahealth Inc. (United States), SAP SE (Germany), Microsoft Corporation (United States), Cerner Corporation (United States), Stanley Healthcare (United States), Oracle Corporation (United States), Samsung Group (South Korea), Philips NV (The Netherlands), GE Healthcare (United States), among others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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