Global Smart Hospitals Market Size, Share, Growth Analysis Report - Forecast 2034

Smart Hospitals Market: Industry Perspective

The global smart hospitals market size was worth around USD 48.42 Billion in 2024 and is predicted to grow to around USD 166.10 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 13.12% between 2025 and 2034.

The report analyzes the global smart hospitals market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart hospitals industry.

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Smart Hospitals Market: Overview

Smart hospitals are those that use cutting-edge equipment, software, and digital infrastructure to lighten patient loads, cut costs, and improve operational effectiveness. The emergence of IoT technologies in healthcare and the expanding need for high-quality medical services are propelling the market's expansion. The number of individuals suffering from diseases has increased as a result of a sedentary lifestyle and deteriorating ecosystems.

The infrastructure of the healthcare system is under strain as a result of the rising number of sick people who must be treated while also lowering treatment costs. Hospitals are being encouraged to adopt cutting-edge technologies such as artificial intelligence, robotics, precision medicine, augmented reality, and genomics, among others, as a result of the transition from traditional drugs and therapeutics to patient-centered medical treatments for better clinical outcomes and quality care. By utilizing eco-friendly flooring, paints, furnishings, and furnishing, smart hospitals are also built to minimize pollutants and their negative environmental effects.

Key Insights

• As per the analysis shared by our research analyst, the global smart hospitals market is estimated to grow annually at a CAGR of around 13.12% over the forecast period (2025-2034).
• Regarding revenue, the global smart hospitals market size was valued at around USD 48.42 Billion in 2024 and is projected to reach USD 166.10 Billion by 2034.
• The smart hospitals market is projected to grow at a significant rate due to adoption of digital health technologies, demand for improved patient outcomes, integration of AI and IoT, and rising healthcare infrastructure investments.
• Based on Component, the Hardware segment is expected to lead the global market.
• On the basis of Technology, the Artificial Intelligence (AI) segment is growing at a high rate and will continue to dominate the global market.
• Based on the Application, the Remote Medicine Management segment is projected to swipe the largest market share.
• By Connectivity, the Wired segment is expected to dominate the global market.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Smart Hospitals Market: Growth Drivers

An Increase in healthcare technological advancements to drive market growth

Over the past ten years, the field of digital health has grown as more and more healthcare authorities look to technological innovations for answers to challenging market issues. Including all other expanding industries, the market for smart hospitals is being pushed by technical advancements like machine learning, cloud-based services, artificial intelligence, and big data. COVID-19 has changed the global healthcare landscape, and as a result, there has been a significant shift in desire for technology-driven healthcare, which has fueled the growth of the global smart hospitals market.

Smart Hospitals Market: Restraints

Lack of awareness for smart healthcare products to hinder the market growth

The lack of awareness for smart healthcare products to hinder the global market growth in the coming years. GE Healthcare and other medical device companies offer adherence programs, remote monitoring services, and other smart patient services. Still, Accenture, a multinational American Irish corporation that sells consulting and processing services, claims that healthcare professionals are not aware of these services. According to the business, over 55% of healthcare professionals working in France, Germany, the United Kingdom, and the United States are ignorant of the different smart hospital technologies that pharmaceutical companies are offering.

Smart Hospitals Market: Opportunity

Government funding and interest in digital healthcare infrastructure to present market opportunities

The healthcare sector has enormous potential for using new technologies, notably in terms of reducing operational efficiency, improving the quality of service, and increasing patient participation. Additionally, the expansion of government assistance and spending in the healthcare industry, particularly in emerging nations, generates profitable potential pockets in the market.

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Smart Hospitals Market: Segmentation

The global smart hospitals market has been segmented into components, products, connectivity, applications.

Based on component, the hardware, system & software, and service are segments of the global smart hospitals market. Due to technological breakthroughs like the Internet of Things, artificial intelligence, electronic health records, and robotic technology to create smart hospitals, the systems & software segment for these facilities accounted for a sizeable market share. However, due to the rapid adoption of technologically advanced goods like the Hybrid Operating Room, the hardware category is expected to increase significantly over the projected period. To continue to lead the global market, players concentrate on providing cutting-edge healthcare services and innovating with hardware launches.

Based on product, the market is classified into smart pills, m health, telemedicine, and electronic health record. In 2021, the electronic health record category dominated the global market. Based on connectivity, the market is classified into wired and wireless. The wired segment dominated the market in 2021.

Based on application, the worldwide smart hospital market is segmented into remote medicine management, outpatient surveillance, electronic health records & clinical workflow, and others based on application type. The clinical workflow & electronic health records are anticipated to have the highest share in this market. Access to patient records is made possible via the Electronic Health Record & Clinical Workflow, which also makes it possible for patients and clinics to securely share electronic data.

The electronic health record (EHR) systems maintain a digital copy of the patient's medical history, which includes all essential administrative information connected to their care, such as prescriptions, progress notes, vital signs, laboratory results, and others. The capacity of clinicians to make judgments quickly and accurately, thanks to the availability of patient medical data, improves patient care. The growing requirement to incorporate individuals' medical histories for better treatment options is likely to drive the segment expansion.

Smart Hospitals Market: Report Scope

Recent Developments

• August 2020: The Indian government has begun a project to establish health ID cards for residents all throughout the country as part of the National Digital Health Blueprint, which aims to use technology to enhance healthcare delivery throughout the country which will enhance the smart hospitals market growth in the country.
• September 2020: Patients utilizing Science 37's technological platform may now link their health records directly, removing the need for paper documentation and expediting information exchange across platforms. Science 37 is a clinical research company with U.S. headquarters.

Smart Hospitals Market: Regional Analysis

North America dominated the smart hospitals market in 2034

Due to its existing healthcare infrastructure, rising acceptance of new technologies, use of artificial intelligence software, growth in healthcare spending, and the spike in expenditures in cutting-edge smart hospitals, North America dominates the market for smart hospitals. However, the

Asia Pacific is expected to have rapid expansion over the next years as a result of growing digital technology and healthcare infrastructure that will provide affordable healthcare to the region's low- and middle-income population. Furthermore, due to inorganic growth tactics, including partnerships and agreements, Europe is predicted to have considerable growth in the worldwide market for smart hospitals throughout the forecast period.

Smart Hospitals Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the smart hospitals market on a global and regional basis.

The global smart hospitals market is dominated by players like:

• Medtronic
• Philips
• GE Healthcare
• Siemens Healthineers
• Honeywell Life Care Solutions
• McKesson Corporation
• Cerner Corporation
• Allscripts Healthcare Solutions
• athenahealth
• SAP SE
• Microsoft Corporation
• IBM Watson Health
• Qualcomm Life
• Samsung Healthcare
• Oracle Corporation
• Stanley Healthcare
• Epic Systems
• Veradigm
• AdhereTech
• Securitas Healthcare
• Schneider Electric Healthcare
• Oneview Healthcare
• TeleTracking Technologies
• CitiusTech Inc.
• ThoughtWire Corp.
• AirStrip Technologies Inc.
• Apple Inc.
• AT&T Inc.
• Brooks Automation
• Next IT Corp.
• Diabetizer GmbH & Co. KG
• NVIDIA Corporation
• Infor
• PhysIQ
• TERSOSOLUTIONS Inc.
• Itrex Group
• Sanela Technologies Pvt. Ltd.
• Sonar Technologies
• Smart Hospital Manager

The global smart hospitals market is segmented as follows;

By Component

• Hardware
• Software
• Services

By Technology

• Artificial Intelligence (AI)
• Internet of Things (IoT)
• Cloud Computing
• Others

By Application

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

By Connectivity

• Wired
• Wireless

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America