Smart Hospitals Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Application, By Technology (Artificial Intelligence, Big Data, Cloud Computing, Internet of Things), By Region, And Segment Forecasts, 2023 To 2030

Smart hospitals are healthcare facilities that incorporate advanced equipment and software to streamline processes and reduce costs. The market for smart hospitals is driven by the advancement of healthcare technologies and the growing demand for cost-efficient solutions within medical settings. However, the need for governance standards and proficiency in implementing IoT solutions in hospitals hinder the market growth. Nonetheless, increasing investments in the healthcare sector, particularly in developing economies, present promising opportunities for the market.

The growth of smart hospitals is primarily driven by two factors, technological advancements and the need for cost-effective solutions in healthcare. New technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), big data, and machine learning are transforming healthcare by providing real-time monitoring, predictive analytics, and automation of routine tasks. These technologies enable smart hospitals to streamline operations, reduce costs, and enhance patient outcomes. For instance, IoT devices can monitor patient vitals in real time, enabling doctors and nurses to respond quickly to changes in health status. AI-powered chatbots can provide patient triage and answer frequently asked questions, reducing the workload on hospital staff.

The healthcare industry is evolving and several latest trends have fueled the market growth. Telehealth has become more prevalent with the increasing demand for remote patient monitoring, telemedicine, and virtual care. Wearable technology is another trend gaining traction, with patients increasingly using smartwatches, fitness trackers, and medical sensors to monitor their health status. Robotics is another trend driving the adoption of technology in the healthcare industry, with smart hospitals taking advantage of this trend to automate repetitive tasks and improve efficiency.

The market for smart hospitals is experiencing growth globally, with several regions making significant contributions. North American dominates the market due to the advanced healthcare infrastructure in the region, coupled with the high adoption rate of new technologies. The U.S., in particular, has a well-developed healthcare system investing heavily in smart hospitals.

With the increasing shift towards tailored treatment plans based on an individual's genetic makeup and medical history, smart hospitals are leveraging technologies such as AI and machine learning to provide personalized treatment recommendations. Data security and privacy are becoming increasingly important as smart hospitals rely more on digital technologies. Healthcare providers are expected to implement robust security measures to protect patient data from cyber threats and ensure compliance with privacy regulations.

Smart Hospitals Market Segmentation

• By Component

  • Hardware

  • Software

  • Services

• By Application

  • Remote Medicine Management Medical Assistance

  • Medical Connected Imaging

  • Electronic Health Record & Clinical Workflow

  • Others

• By Technology

  • Artificial Intelligence

  • Big Data

  • Cloud Computing

  • Internet of Things

Key players

• General Electric

• Oracle (Cerner Corporation)

• Honeywell International Inc

• IBM Corporation

• Veradigm LLC (Allscripts Healthcare Solutions)

• McKesson Corporation

• Medtronic

• NVIDIA Corporation

• Koninklijke Philips N.V.

• Microsoft

• Seimens

• Securitas Healthcare, LLC.