The collection of technological advancements in medical devices for the safety of patients and efficiency within hospitals or connected through software to clinical information systems. Such hospitals are known as smart hospitals. IoT plays a prominent role in establishing smart hospitals through devices, system components, and networks. Smart hospitals are modifying the healthcare industry, as electronic devices gather information of patients’ significant signs and share it with physicians, and patients can track their records. The modernization of healthcare infrastructure and the rising usage of connected devices and instruments in hospitals are fueling the market growth. The increasing requirement for cost-effective application in hospitals and implementing IoT technologies in healthcare strengthens the market value. The increasing prevalence of chronic diseases all around the globe whose patients require long-term support and constant monitoring of health conditions is further propelling the market value. On the other hand, the huge cost of connected systems is likely to hamper market growth. The Smart Hospital Market is anticipated to grow at the rate of 25.1% CAGR by 2027.  

Research Methodology:

The Smart Hospital Market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology and a unique balance of primary insights. The real-time valuation of the market is an integral part of our forecasting and market sizing methodology. Industry experts and our primary participants have helped to compile related aspects with accurate parametric estimations for a complete study. The primary participants share is given below:

Smart Hospital Market based on Component

• Hardware
• System & Software
• Service

Smart Hospital Market based on Service Rendered

• General Services
• Specialty
• Super Specialty

 Smart Hospital Market based on Connectivity

• Wired
• Wireless

Smart Hospital Market by Application

• Remote Medicine Management
• Medical Assistance
• Medical Connected Imaging
• Electronic Health Record & Clinical Workflow
• Others

Smart Hospital Market based on Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

The hardware segment is likely to be the most lucrative segment based on components, due to the immense utilization of hardware in hospital settings. Several types of hardware devices are used in hospitals, including wearable, implanted, and other stationary devices for patient health management. Therefore, increased utilization of such devices is projected to drive the growth of the smart hospitals market.

Based on service rendered, the general segment commanded the global smart hospitals market, as general hospitals have a robust presence worldwide. Additionally, the advent of technologically advanced solutions in general hospitals is anticipated to provide patients access to several services and solutions.

As per the connectivity, the smart hospitals market has been bifurcated into wired and wireless. However, the wireless segment has a prominent share in the market. This is ascribed to smart hospitals' development using wireless networks, such as IoT, wireless devices, or sensors.

Further based on application, the global smart hospitals market has been categorized into Remote Medicine Management, Medical Assistance, Medical Connected Imaging, Electronic Health Record & Clinical Workflow, and Others. The electronic health records & clinical workflow segment has registered the major share in the smart hospital market. Smart hospital offers access to patient records and enables secured sharing of electronic information among patients and clinics.

In the geographical market, North America has the highest market share. This is due to the well-advanced healthcare infrastructure coupled with the rapid adoption and development of technologies in the healthcare sector, favoring the regional market value. The substantial spending power of people in the region is also bolstering the regional market value.

The increasing demand for improved quality of treatment and healthcare services in hospitals and increased productivity, which offer more efficacy services, are projected to considerably stimulate global market growth. In addition, smart hospitals offered patient satisfaction with an emphasis on better care of patients and minimize pressure on the hospital professionals, which reduces errors during treatment procedures, contributing to global market growth.

The smart hospital market report consists of the list of key market players: Allscripts Healthcare, LLC, Honeywell International Inc., Alphabet Inc. (Google Inc.), Next IT Corp., Enlitic Inc., General Vision, Intel Corporation, IBM Corporation, Microsoft Corporation, and Nvidia Corporation.

As a result, the increasing technological advancements have substantial modified the hospital facilities around the world. These are technological advancements in the healthcare industry that look forward to offering a wide range of services. Smart hospitals merge with technology design to enhance patient care.

• The research report of the smart hospital market includes changing market trends, propelling factors, and opportunities.
• This research represents the complete market segmentation coupled with past, present, and forthcoming market size regarding qualitative and quantitative analysis.
• This research consists of novel market innovations and developments in products taking place in the market.
• The report also mentions all the potential segments and geographical regions depicting the growth of the market.

1. Executive Summary
2. Industry Outlook
   1. Industry Overview
   2. Industry Trends
3. Market Snapshot
   1. Market Definition
   2. Market Outlook
      1. Porter Five Forces
   3. Related Markets
4. Market characteristics
   1. Market Overview
   2. Market Segmentation
   3. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   4. DRO - Impact Analysis
5. Component: Market Size & Analysis
   1. Overview
   2. Hardware
   3. System & Software
   4. Service
6. Service Rendered: Market Size & Analysis
   1. Overview
   2. General Services
   3. Specialty
   4. Super Specialty
7. Connectivity: Market Size & Analysis
   1. Overview
   2. Wired
   3. Wireless
8. Application: Market Size & Analysis
   1. Overview
   2. Remote Medicine Management
   3. Medical Assistance
   4. Medical Connected Imaging
   5. Electronic Health Record & Clinical Workflow
   6. Others
9. Geography: Market Size & Analysis
   1. Overview
   2. North America
   3. Europe
   4. Asia Pacific
   5. Rest of the World
10. Competitive Landscape
    1. Competitor Comparison Analysis
    2. Market Developments
       1. Mergers and Acquisitions, Legal, Awards, Partnerships
       2. Product Launches and execution
11. Vendor Profiles
    1. Allscripts Healthcare, LLC
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    2. Honeywell International Inc.
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    3. Alphabet Inc. (Google Inc.)
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    4. Next IT Corp.
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    5. Enlitic Inc.
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    6. General Vision
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    7. Intel Corporation
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    8. IBM Corporation
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    9. Microsoft Corporation
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    10. Nvidia Corporation
        1. Overview
        2. Financial Overview
        3. Product Offerings
        4. Developments
        5. Business Strategy
12. Analyst Opinion
13. Annexure
    1. Report Scope
    2. Market Definitions
    3. Research Methodology
       1. Data Collation and In-house Estimation
       2. Market Triangulation
       3. Forecasting
    4. Report Assumptions
    5. Declarations
    6. Stakeholders
    7. Abbreviations