The global smart hospitals market was valued at $16,925 million in 2017 and is expected to reach $58,777 million by 2025 with a CAGR of 17.3% during the forecast period. Hospitals that rely on automated and optimized processes that are built on information and communication technologies (ICT) environment of interconnected assets such as Internet of Things are known as smart hospitals. This further aids in improving the existing patient care procedures and introduce new capabilities in hospitals.
The continuous advancements in healthcare infrastructure and the rise in need for cost effective solutions in hospitals are the major factors supplementing the market growth. However, the high cost of these devices and lack of healthcare professionals to operate the devices is anticipated to restrain the market growth. Moreover, the rise in investments in healthcare sector in the developing economies create lucrative opportunities in the market.
Major Key Players of the Smart Hospitals Market are:Alphabet(Google Inc.), Enlitic, General Vision, Intel Corporation, IBM Corporation, Microsoft , Nvidia Corporation, Next IT Corp., Welltok Inc., GE healthcare
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