Smart Hospital Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Smart Hospital Market Overview and it is Segmented by Component (Hardware, Software, and Services), Application (Electronic Health Record, Remote Patient Monitoring, Pharmacy Automation, Mobile Asset Tracking, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value in USD billion for all the above segments.

Smart Hospital Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Smart Hospital Market Size

Global Smart Hospital Market Size
Study Period 2019 - 2030
Market Size (2025) USD 72.24 Billion
Market Size (2030) USD 177.61 Billion
CAGR (2025 - 2030) 19.71 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Smart Hospital Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Smart Hospital Market Analysis

The Smart Hospital Market size is estimated at USD 72.24 billion in 2025, and is expected to reach USD 177.61 billion by 2030, at a CAGR of 19.71% during the forecast period (2025-2030).

The rising trend of the Internet of Things (IoT) continues to transform healthcare delivery services at an unprecedented pace. Connected medical devices are increasing patient safety and efficiency. When such technologies apply to the complete healthcare organization ecosystem, it becomes a "Smart Hospital."

  • Due to the high investments involved, hospitals worldwide have been reluctant to adopt these technologies and practices. However, with the diminishing cost of technology and in the light of fast-developing use cases that show the importance of digital connectivity solutions, hospitals today are being forced to embrace them. These technological changes will also benefit hospitals by digitizing personnel management, asset tracking, and scheduling for better operational efficiency.
  • Owing to the rise in the aging population and long-term chronic disease conditions in many regions, there is an increasing demand for remote patient monitoring solutions. This is a significant factor impacting the market's growth. There is constant pressure on hospital administrators to lower costs while continuing to improve the standard of patient care. Hospitals are turning to wireless technologies to operate more efficiently, support patient care, and improve their experiences.
  • For instance, to better understand and enhance the workflow of nursing staff, hospitals are equipping nurse ID badges with an RFID tag that works with the hospital's Wi-Fi network. These tags track the movement of the nurses throughout their shifts. The data is captured and analyzed, providing insights to the hospitals on how to upgrade their procedures.
  • The wireless RFID technology also allows hospitals to track the real-time location of critical equipment and the condition of the equipment. By adopting this wireless technology, the Shands hospital in Florida experienced a 98.8% reduction in the hours spent searching for missing items.
  • The COVID-19 pandemic had pushed hospitals beyond their capacity. Yet, the response to the crisis also encouraged innovation. Progressing digital transition was sped up by the requirement to maintain social distance and make the most meaningful use of overworked workers.

Smart Hospital Industry Overview

The Smart Hospital market is moderately fragmented because of the major players. These players include Koninklijke Philips NV, GE Healthcare, Medtronic PLC, Honeywell Life Care Solutions, and Stanley Healthcare. To sustain intense competition, some prime growth strategies that the companies adopt are product launches, high expenses on research and development, partnerships and acquisitions, etc.

In July 2022, GE Healthcare inaugurated the company's first 5G innovation lab. The lab aimed at developing healthcare solutions by employing 5G and other smart solutions, such as artificial intelligence, augmented and virtual reality, and advanced visualization to streamline image transfers and teleradiology. It also enabled the company to foster collaborations with various academia, industry researchers, and startups to co-create future-ready solutions.

Smart Hospital Market Leaders

  1. Koninklijke Philips N.V.

  2. GE Healthcare ( General Electric)

  3. Medtronic plc

  4. Honeywell Life Care Solutions ( Honeywell International Inc)

  5. Stanley Healthcare

  6. *Disclaimer: Major Players sorted in no particular order
Koninklijke Philips N.V., GE Healthcare ( General Electric), Medtronic plc, Honeywell Life Care Solutions ( Honeywell International Inc), Stanley Healthcare
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Smart Hospital Market News

  • February 2022: GE Healthcare, a subsidiary of General Electric Company, collaborated with AWS to provide AI-enabled diagnostic imaging cloud solutions for healthcare organizations. The company focused on providing better clinical insights and transforming healthcare quality by including accessories, such as sensor readings, genomics, lab tests, etc.
  • January 2022: Francisco partners announced the acquisition of IBM healthcare data and analytics assets. This acquisition provided the company with an enhanced platform for hybrid cloud and AI strategy in the healthcare market.

Smart Hospital Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions And Market Definition
  • 1.2 Scope Of The Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Intensity of Competitive Rivalry
    • 4.2.5 Threat of Substitutes
  • 4.3 Industry Value Chain Analysis
  • 4.4 Assessment Of The Impact Of COVID-19 On The Market
  • 4.5 Market Drivers
    • 4.5.1 Modernization of Healthcare Infrastructure is Boosting the Demand for Smart Hospitals
    • 4.5.2 Increasing Penetration of Connected Devices and Instruments in Hospitals
  • 4.6 Market Restraints
    • 4.6.1 High Cost of Connected Systems
  • 4.7 Technology Development
  • 4.8 Emerging Use-cases
  • 4.9 Key Regulatory Frameworks

5. TECHNOLOGY SNAPSHOT

  • 5.1 Smart Hospital Landscape
    • 5.1.1 Remote Care System
    • 5.1.2 Networked Medical Devices
    • 5.1.2.1 Mobile Devices
    • 5.1.2.2 Wearable External Devices
    • 5.1.2.3 Implantable Devices
    • 5.1.2.4 Stationary Devices
    • 5.1.2.5 Assistive Robots
    • 5.1.3 Identification Systems
    • 5.1.3.1 Biometric Scanners
    • 5.1.3.2 RFID Systems
    • 5.1.3.3 Other Identification Systems
    • 5.1.4 Interconnected Clinical Information Systems
    • 5.1.4.1 Hospital Information Systems
    • 5.1.4.2 Laboratory Information Systems
    • 5.1.4.3 Other Interconnected Clinical Information Systems

6. MARKET SEGMENTATION

  • 6.1 By Component
    • 6.1.1 Hardware
    • 6.1.2 Software
    • 6.1.3 Services
  • 6.2 By Application
    • 6.2.1 Electronic Health Record
    • 6.2.2 Remote Patient Monitoring
    • 6.2.3 Pharmacy Automation
    • 6.2.4 Medical Asset Tracking
    • 6.2.5 Other Applications
  • 6.3 By Geography
    • 6.3.1 North America
    • 6.3.2 Europe
    • 6.3.3 Asia-Pacific
    • 6.3.4 Rest of the World

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Koninklijke Philips NV
    • 7.1.2 GE Healthcare ( General Electric)
    • 7.1.3 Medtronic PLC
    • 7.1.4 Honeywell Life Care Solutions ( Honeywell International Inc.)
    • 7.1.5 Stanley Healthcare
    • 7.1.6 SAP SE
    • 7.1.7 Microsoft Corporation
    • 7.1.8 Allscripts Healthcare Solutions Inc.
    • 7.1.9 Cerner Corporation
    • 7.1.10 McKesson Corporation
    • 7.1.11 Schneider Electric Healthcare
    • 7.1.12 ThoughtWire Corp.
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OPPORTUNITIES

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Smart Hospital Industry Segmentation

The Smart Hospital market report provides detailed information regarding several segments of smart hospitals, such as hardware, software, and the solutions component. The report analyzes the smart hospital ecosystem and discusses Electronic Medical Records (EMRs), alarm management, research databases, and clinical decision support systems.

The Smart Hospital Market is Segmented by Component (Hardware, Software, and Services), Application (Electronic Health Record, Remote Patient Monitoring, Pharmacy Automation, Mobile Asset Tracking, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.

By Component Hardware
Software
Services
By Application Electronic Health Record
Remote Patient Monitoring
Pharmacy Automation
Medical Asset Tracking
Other Applications
By Geography North America
Europe
Asia-Pacific
Rest of the World
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Smart Hospital Market Research FAQs

How big is the Smart Hospital Market?

The Smart Hospital Market size is expected to reach USD 72.24 billion in 2025 and grow at a CAGR of 19.71% to reach USD 177.61 billion by 2030.

What is the current Smart Hospital Market size?

In 2025, the Smart Hospital Market size is expected to reach USD 72.24 billion.

Who are the key players in Smart Hospital Market?

Koninklijke Philips N.V., GE Healthcare ( General Electric), Medtronic plc, Honeywell Life Care Solutions ( Honeywell International Inc) and Stanley Healthcare are the major companies operating in the Smart Hospital Market.

Which is the fastest growing region in Smart Hospital Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Smart Hospital Market?

In 2025, the Europe accounts for the largest market share in Smart Hospital Market.

What years does this Smart Hospital Market cover, and what was the market size in 2024?

In 2024, the Smart Hospital Market size was estimated at USD 58.00 billion. The report covers the Smart Hospital Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Smart Hospital Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Smart Hospital Industry Report

Statistics for the 2025 Smart Hospital market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Hospital analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.