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Global Smart Hospital Market growing at a CAGR of 21.2% during 2020-26

The young trend and acceptance of artificial intelligence technology and the utilization of smart devices in hospitals together with the comprehensive application of the IoT magnify the market growth. Moreover, growing awareness concerning the Internet of Things (IoT) and AI in progressive nations drives market growth.

The wireless system segment is anticipated to command the Smart Hospital Market Globally. In 2019, Nearby 48% market share was captured by advanced software & services in the components. However, the prominent growth rate is anticipatory to be captured by the Hardware segment owing to the booming requirement for AI-enabled healthcare equipment.

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Based on product type, telemedicine is supposed to hold nearly half of the share in the overall smart hospital market in 2019. Increase in consciousness regarding the probable benefits of telemedicine like economic consultation and diagnosis services, enhanced approach to the sufferer, and upgraded quality of treatments & other healthcare services.

Based on the connectivity segment, the wireless connectivity category is considered to hold the largest share of the market in 2019 globally. The wireless systems segment incorporates intelligent devices like GPS, Bluetooth, Wi-Fi, RFID, Cellular Communication, and others. Utilization of such smart devices in hospitals to facilitate the diagnostic workflow and decrease the expense related to the patient’s treatment objectives.

In terms of geography, North America dominated the highest share of the global market in 2019 as a result of the tremendous invasion of scientific improvement in the clinics & hospitals. Moreover, the an augmentation in the number of patients demanding high-end software and hardware services for treatment and diagnosis.

Some of the notable players operating in the Global Smart Hospital Market include Intel Corporation, SAMSUNG Group, Philips N.V., Siemens AG, SAP SE, Microsoft Corporation, Qualcomm Life, Inc., Stanley Healthcare, Cerner Corporation, Medtronic, and others.

The Global Smart Hospital Market has been fragmented in terms of application type, connectivity type, components, & and regions.

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