According to a new Netscribes report published on Research on Global Markets, the global smart hospital market is expected to have a significant compound annual growth rate (CAGR) of 23.29% and reach a market size of USD 55.76 Bn by 2023.
Technological advancements like machine learning, artificial intelligence (AI), cloud computing services, radio-frequency identification (RFID) and others, are deemed to be the key growth drivers for this market. Also, increased government initiatives to implement IT solutions in healthcare bodes well for the growth of this market.
However, cybersecurity remains a concern for the widespread adoption of smart hospitals. Smart hospitals typically deploy chatbots for automating processes. There are concerns that any kind of breaches in the automation processes can significantly compromise the quality of healthcare. Increasing number of ransomware cases and distributed denial of security (DDoS) attacks can also slow down the growth of the market during the forecasted period.
Key highlights of this report:
- Trends in the global smart hospital market
- Qualitative analysis of the drivers and challenges affecting the market and its segments
- Analysis of the competitive landscape and profiles of major players operating in the market
- Historical, current and forecasted regional market size data for the global smart hospital industry
- Historical, current and forecasted market size data for smart pills, mHealth, telemedicine, and others
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for smart hospitals worldwide to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.
Please find below media contact for the releases: