Global Smart Hospitals Market, by Component (Hardware, Systems and Software, and Services), by Technology (Cloud Computing, Artificial Intelligence, Wearable Technologies, Radio Frequencies Identification, and Others), by Application (Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record & Clinical Workflow, and Outpatient Vigilance), by Connectivity (Wired, and Wireless), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 29.6 billion in 2020 and is expected to exhibit a CAGR of 19.6% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

The companies are focusing on launching new applications in order to establish smart hospitals through artificial intelligence which is expected to drive growth of the global smart hospitals market during the forecast period. For instance, in May 2020, NVIDIA Corporation, an American multinational technology company, introduced Clara Guardian, an application developed to accelerate development and deployment of smart sensors with multimodal Artificial Intelligence (AI) anywhere in the hospital. NVIDIA Clara Guardian delivers AI-powered video and audio data, which enables organizations to transform themselves into smart hospitals.

Global Smart Hospitals Market – Impact of Coronavirus (COVID-19) Pandemic

Increasing prevalence of COVID-19 cases has created demand for constant patient monitoring using sensors and Internet of Things (IoT) devices to track patients, temperatures, movements, and items in order to cope with the pandemic and provide treatment to patients who are suffering from COVID-19.

Market players and healthcare organizations are collaborating to build smart hospitals. For instance, on May 12, 2020, Capsule Technologies, Inc. collaborated with Yale New Haven Health System (YNHHS), U.S., to deploy Capsule’s Ventilated Patient Surveillance (VPS) workstation to provide safe and effective patient care to its COVID-19 ventilated patients.

Similarly, on April 23, 2020, Aden Group, an integrated facility management (IFM) company announced that along with the Dassault Systèmes, a company operating in collaborative 3D virtual environments, will develop and launch AKILA Care, a modular smart hospital.

Browse 35 Market Data Tables and 34 Figures spread through 198 Pages and in-depth TOC on “Smart Hospitals Market”- Global Forecast to 2027, by Component (Hardware, Systems and Software, and Services), by Technology (Cloud Computing, Artificial Intelligence, Wearable Technologies, Radio Frequencies Identification, and Others), by Application (Remote Medicine Management, Medical Connected Imaging, Medical Assistance, Electronic Health Record & Clinical Workflow, and Outpatient Vigilance), by Connectivity (Wired, and Wireless), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

To know the latest trends and insights prevalent in the global Smart Hospitals market, click the link below:

https://www.coherentmarketinsights.com/market-insight/smart-hospitals-market-4211

Various healthcare facilities are focusing on converting into smart hospitals to provide high quality medical services which is expected to boost the market growth during the forecast period. For instance, in January 2020, West China Second University Hospital, affiliated to Sichuan University, China, launched 5G medical private network, purpose built-in hospitals enhanced with mobile edge computing (MEC) devices which provide full integration among cloud, networks, and services. The 5G medical private network provides low latency, high data rates, and massive connectivity for personalized network services in hospitals.

Key Takeaways of the Global Smart Hospitals Market:

  • The global smart hospitals market is expected to exhibit a CAGR of 19.6% during the forecast period owing to the increasing mergers and acquisitions by market players. For instance, in February 2019, Francisco Partners, a technology-focused private equity firm, acquired Qualcomm Life, Inc., a subsidiary of Qualcomm Incorporated which offers medical device connectivity across the continuum of care.
  • Among technology, cloud computing segment held a dominant position in the global smart hospitals market in 2019, owing to product launches by market players. For instance, in February 2018, Stanley Healthcare announced the launch of AeroScout Links, a cloud-based solution developed to monitor the conditions environment of care.
  • Key players operating in the global smart hospitals market are Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, Capsule Technologies, Inc., Stanley Healthcare, Siemens AG, athenahealth, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, McKesson Corporation, SAP SE, Samsung Group, and Honeywell International Inc.
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