Smart Hospitals Market Analysis 2021-2031 | Top Players
The Smart Hospitals Market is expected to register a CAGR of 28.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Smart Hospitals Market report covers analysis By Component, Technology, Application, Connectivity, and Geography.
Purpose of the ReportThe report Smart Hospitals Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Smart Hospitals Market Segmentation
Component- Software
- Hardware
- Services
- Cloud Computing
- Artificial Intelligence
- Wearable Technologies
- Radio Frequencies Identification
- Others
- Remote Medicine Management
- Medical Connected Imaging
- Medical Assistance
- Electronic Health Record and Clinical Workflow
- Outpatient Vigilance
- Wired
- Wireless
- Wired
- Wireless
Strategic Insights
Smart Hospitals Market Growth Drivers- Patient Expectations: The emergence of high expectations from the patient end for quality and personalized care requires smart hospitals to be in place to meet the new demands. This change is contributing to massive market growth because the international market exhibits a rise in investments to promote patient engagement. Market analysis states that hospitals adopting these smart technologies would occupy a bigger market share, improving innovation in service delivery and healthcare in general.
- Government Initiatives and Regulations: Government initiatives and regulatory frameworks that encourage healthcare innovation are fundamental to pushing the smart hospitals market forward. Policies that would enhance healthcare efficiency and improve patient outcomes are probably what would encourage investors in smart technologies. This is why the market overview for the market segment will be more optimistic, with a growth perspective buoyed by positive regulations. Growth trends are to be experienced as the global industry reacts with added market share through companies investing in digital health solutions, as is reflected in recent market reports and industry trend analyses.
- Cybersecurity Investment Key to Smart Hospital Trust and Compliance: With increasing digitization in smart hospitals, cybersecurity has come under a sharp spotlight. Protecting sensitive patient data has always been very critical, hence more investment by healthcare providers in robust cybersecurity measures. This creates scope for companies that can offer solutions in the cybersecurity domain and take up collaborations with healthcare providers. As the market strategy shifts toward holistic security protocols, this is very critical in maintaining the trust of patients and their compliance. This trend forms the backbone of a resilient smart hospital system against cyber threats.
- Interoperability in Smart Hospitals Enhances Data Exchange: There is a gaining force for interoperability in smart hospitals as health systems continue their quest toward pain-free data interchange. The new trend promotes interoperability and enhances patient outcomes between healthcare providers. Based on PEST analysis, regulatory pressures on standardized formats of data have been driving innovation. Key players have been working on market strategies by coming up with interoperable solutions that would allow improved sharing of data, hence influencing market dynamics positively and ensuring proper patient care is observed.
- Environmental Sustainability Drives Green Practices in Smart Hospitals: Awareness of environmental sustainability is compelling the smart hospital to adopt environmentally friendly practices. This includes energy-efficient infrastructure and waste reduction programs, which are gradually becoming an integral part of the functioning of the hospital. A PEST analysis calls attention to the legal framework in place for the pursuit of sustainability in healthcare. The overall market trends are indeed receiving positive implications from the leading players based on the market strategies focusing on green technologies and sustainable practices. Concerning this, smart hospitals not only improve their performance as operating units but also sustain public image and patient satisfaction.
- Continuous Patient Monitoring Systems Propel Smart Hospital Growth: The continuous patient monitoring system represents an important growth area for smart hospitals. It is for this reason that a competitive analysis indicates that the North America-based hospitals that invest in these technologies will be in a good position to look unique in the industry scenery as they meet increasing expectations regarding proactive healthcare management.
- Health Data Interoperability Enhances Care Coordination: The need for health data interoperability is creating a healthy opportunity for smart hospitals in areas of growth. Interoperable systems will ensure that information gets shared between the providers seamlessly and, in turn, improve care coordination and outcomes. This initiative is especially needed in North America because its healthcare systems fragmented the patients and have created problems while managing them.
- Mobile Apps and Online Portals Improve Patient Engagement: With mobile applications and online portals, patients can better manage their health journey. It is also critical in the North American sector, with a continuous shift of patients' preferences from less interactive experience-based healthcare delivery towards a more interactive experience. A detailed competitive analysis shows that 'patient engagement-oriented' hospitals can distinguish themselves in the healthcare sector, which proves to be a relatively more impressive one in terms of patient satisfaction, and hence building long-term loyalty among patients.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Smart Hospitals Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Smart Hospitals Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Stanley Healthcare, Qualcomm Technologies Inc, Koninklijke Philips N V, Allscripts Healthcare LLC, McKesson Corporation, Cerner Corporation, Honeywell International Inc, GE Healthcare, SAP SE
Key future trends in this market are - Integration of IoT technologies, Growth in patient-centered care, Adoption of AI-driven solutions
The Smart Hospitals Market is expected to register a CAGR of 28.8% from 2023-2031.
The major factors impacting the Smart Hospitals Market are: Regulatory Support, Increasing Patient Demand, and Technological Advancements
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Hospitals Market - By Component
1.3.2 Smart Hospitals Market - By Technology
1.3.3 Smart Hospitals Market - By Application
1.3.4 Smart Hospitals Market - By Connectivity
1.3.5 Smart Hospitals Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART HOSPITALS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SMART HOSPITALS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SMART HOSPITALS MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART HOSPITALS - GLOBAL MARKET OVERVIEW
6.2. SMART HOSPITALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SMART HOSPITALS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. HARDWARE
7.4.1. Overview
7.4.2. Hardware Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. SMART HOSPITALS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. CLOUD COMPUTING
8.3.1. Overview
8.3.2. Cloud Computing Market Forecast and Analysis
8.4. ARTIFICIAL INTELLIGENCE
8.4.1. Overview
8.4.2. Artificial Intelligence Market Forecast and Analysis
8.5. WEARABLE TECHNOLOGIES
8.5.1. Overview
8.5.2. Wearable Technologies Market Forecast and Analysis
8.6. RADIO FREQUENCIES IDENTIFICATION
8.6.1. Overview
8.6.2. Radio Frequencies Identification Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SMART HOSPITALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. REMOTE MEDICINE MANAGEMENT
9.3.1. Overview
9.3.2. Remote Medicine Management Market Forecast and Analysis
9.4. MEDICAL CONNECTED IMAGING
9.4.1. Overview
9.4.2. Medical Connected Imaging Market Forecast and Analysis
9.5. MEDICAL ASSISTANCE
9.5.1. Overview
9.5.2. Medical Assistance Market Forecast and Analysis
9.6. ELECTRONIC HEALTH RECORD AND CLINICAL WORKFLOW
9.6.1. Overview
9.6.2. Electronic Health Record and Clinical Workflow Market Forecast and Analysis
9.7. OUTPATIENT VIGILANCE
9.7.1. Overview
9.7.2. Outpatient Vigilance Market Forecast and Analysis
10. SMART HOSPITALS MARKET - REVENUE AND FORECASTS TO 2028 - CONNECTIVITY
10.1. OVERVIEW
10.2. CONNECTIVITY MARKET FORECASTS AND ANALYSIS
10.3. WIRED
10.3.1. Overview
10.3.2. Wired Market Forecast and Analysis
10.4. WIRELESS
10.4.1. Overview
10.4.2. Wireless Market Forecast and Analysis
10.4.3. Wi-Fi Market
10.4.3.1. Overview
10.4.3.2. Wi-Fi Market Forecast and Analysis
10.4.4. RFID Market
10.4.4.1. Overview
10.4.4.2. RFID Market Forecast and Analysis
10.4.5. Bluetooth Market
10.4.5.1. Overview
10.4.5.2. Bluetooth Market Forecast and Analysis
10.4.6. Zigbee Market
10.4.6.1. Overview
10.4.6.2. Zigbee Market Forecast and Analysis
10.4.7. Near Field Communication (NFC) Market
10.4.7.1. Overview
10.4.7.2. Near Field Communication (NFC) Market Forecast and Analysis
10.4.8. Others Market
10.4.8.1. Overview
10.4.8.2. Others Market Forecast and Analysis
11. SMART HOSPITALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Smart Hospitals Market Overview
11.1.2 North America Smart Hospitals Market Forecasts and Analysis
11.1.3 North America Smart Hospitals Market Forecasts and Analysis - By Component
11.1.4 North America Smart Hospitals Market Forecasts and Analysis - By Technology
11.1.5 North America Smart Hospitals Market Forecasts and Analysis - By Application
11.1.6 North America Smart Hospitals Market Forecasts and Analysis - By Connectivity
11.1.7 North America Smart Hospitals Market Forecasts and Analysis - By Countries
11.1.7.1 United States Smart Hospitals Market
11.1.7.1.1 United States Smart Hospitals Market by Component
11.1.7.1.2 United States Smart Hospitals Market by Technology
11.1.7.1.3 United States Smart Hospitals Market by Application
11.1.7.1.4 United States Smart Hospitals Market by Connectivity
11.1.7.2 Canada Smart Hospitals Market
11.1.7.2.1 Canada Smart Hospitals Market by Component
11.1.7.2.2 Canada Smart Hospitals Market by Technology
11.1.7.2.3 Canada Smart Hospitals Market by Application
11.1.7.2.4 Canada Smart Hospitals Market by Connectivity
11.1.7.3 Mexico Smart Hospitals Market
11.1.7.3.1 Mexico Smart Hospitals Market by Component
11.1.7.3.2 Mexico Smart Hospitals Market by Technology
11.1.7.3.3 Mexico Smart Hospitals Market by Application
11.1.7.3.4 Mexico Smart Hospitals Market by Connectivity
11.2. EUROPE
11.2.1 Europe Smart Hospitals Market Overview
11.2.2 Europe Smart Hospitals Market Forecasts and Analysis
11.2.3 Europe Smart Hospitals Market Forecasts and Analysis - By Component
11.2.4 Europe Smart Hospitals Market Forecasts and Analysis - By Technology
11.2.5 Europe Smart Hospitals Market Forecasts and Analysis - By Application
11.2.6 Europe Smart Hospitals Market Forecasts and Analysis - By Connectivity
11.2.7 Europe Smart Hospitals Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Smart Hospitals Market
11.2.7.1.1 Germany Smart Hospitals Market by Component
11.2.7.1.2 Germany Smart Hospitals Market by Technology
11.2.7.1.3 Germany Smart Hospitals Market by Application
11.2.7.1.4 Germany Smart Hospitals Market by Connectivity
11.2.7.2 France Smart Hospitals Market
11.2.7.2.1 France Smart Hospitals Market by Component
11.2.7.2.2 France Smart Hospitals Market by Technology
11.2.7.2.3 France Smart Hospitals Market by Application
11.2.7.2.4 France Smart Hospitals Market by Connectivity
11.2.7.3 Italy Smart Hospitals Market
11.2.7.3.1 Italy Smart Hospitals Market by Component
11.2.7.3.2 Italy Smart Hospitals Market by Technology
11.2.7.3.3 Italy Smart Hospitals Market by Application
11.2.7.3.4 Italy Smart Hospitals Market by Connectivity
11.2.7.4 Spain Smart Hospitals Market
11.2.7.4.1 Spain Smart Hospitals Market by Component
11.2.7.4.2 Spain Smart Hospitals Market by Technology
11.2.7.4.3 Spain Smart Hospitals Market by Application
11.2.7.4.4 Spain Smart Hospitals Market by Connectivity
11.2.7.5 United Kingdom Smart Hospitals Market
11.2.7.5.1 United Kingdom Smart Hospitals Market by Component
11.2.7.5.2 United Kingdom Smart Hospitals Market by Technology
11.2.7.5.3 United Kingdom Smart Hospitals Market by Application
11.2.7.5.4 United Kingdom Smart Hospitals Market by Connectivity
11.2.7.6 Rest of Europe Smart Hospitals Market
11.2.7.6.1 Rest of Europe Smart Hospitals Market by Component
11.2.7.6.2 Rest of Europe Smart Hospitals Market by Technology
11.2.7.6.3 Rest of Europe Smart Hospitals Market by Application
11.2.7.6.4 Rest of Europe Smart Hospitals Market by Connectivity
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Smart Hospitals Market Overview
11.3.2 Asia-Pacific Smart Hospitals Market Forecasts and Analysis
11.3.3 Asia-Pacific Smart Hospitals Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Smart Hospitals Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Smart Hospitals Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Smart Hospitals Market Forecasts and Analysis - By Connectivity
11.3.7 Asia-Pacific Smart Hospitals Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Smart Hospitals Market
11.3.7.1.1 Australia Smart Hospitals Market by Component
11.3.7.1.2 Australia Smart Hospitals Market by Technology
11.3.7.1.3 Australia Smart Hospitals Market by Application
11.3.7.1.4 Australia Smart Hospitals Market by Connectivity
11.3.7.2 China Smart Hospitals Market
11.3.7.2.1 China Smart Hospitals Market by Component
11.3.7.2.2 China Smart Hospitals Market by Technology
11.3.7.2.3 China Smart Hospitals Market by Application
11.3.7.2.4 China Smart Hospitals Market by Connectivity
11.3.7.3 India Smart Hospitals Market
11.3.7.3.1 India Smart Hospitals Market by Component
11.3.7.3.2 India Smart Hospitals Market by Technology
11.3.7.3.3 India Smart Hospitals Market by Application
11.3.7.3.4 India Smart Hospitals Market by Connectivity
11.3.7.4 Japan Smart Hospitals Market
11.3.7.4.1 Japan Smart Hospitals Market by Component
11.3.7.4.2 Japan Smart Hospitals Market by Technology
11.3.7.4.3 Japan Smart Hospitals Market by Application
11.3.7.4.4 Japan Smart Hospitals Market by Connectivity
11.3.7.5 South Korea Smart Hospitals Market
11.3.7.5.1 South Korea Smart Hospitals Market by Component
11.3.7.5.2 South Korea Smart Hospitals Market by Technology
11.3.7.5.3 South Korea Smart Hospitals Market by Application
11.3.7.5.4 South Korea Smart Hospitals Market by Connectivity
11.3.7.6 Rest of Asia-Pacific Smart Hospitals Market
11.3.7.6.1 Rest of Asia-Pacific Smart Hospitals Market by Component
11.3.7.6.2 Rest of Asia-Pacific Smart Hospitals Market by Technology
11.3.7.6.3 Rest of Asia-Pacific Smart Hospitals Market by Application
11.3.7.6.4 Rest of Asia-Pacific Smart Hospitals Market by Connectivity
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Smart Hospitals Market Overview
11.4.2 Middle East and Africa Smart Hospitals Market Forecasts and Analysis
11.4.3 Middle East and Africa Smart Hospitals Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Smart Hospitals Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Smart Hospitals Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Smart Hospitals Market Forecasts and Analysis - By Connectivity
11.4.7 Middle East and Africa Smart Hospitals Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Smart Hospitals Market
11.4.7.1.1 South Africa Smart Hospitals Market by Component
11.4.7.1.2 South Africa Smart Hospitals Market by Technology
11.4.7.1.3 South Africa Smart Hospitals Market by Application
11.4.7.1.4 South Africa Smart Hospitals Market by Connectivity
11.4.7.2 Saudi Arabia Smart Hospitals Market
11.4.7.2.1 Saudi Arabia Smart Hospitals Market by Component
11.4.7.2.2 Saudi Arabia Smart Hospitals Market by Technology
11.4.7.2.3 Saudi Arabia Smart Hospitals Market by Application
11.4.7.2.4 Saudi Arabia Smart Hospitals Market by Connectivity
11.4.7.3 U.A.E Smart Hospitals Market
11.4.7.3.1 U.A.E Smart Hospitals Market by Component
11.4.7.3.2 U.A.E Smart Hospitals Market by Technology
11.4.7.3.3 U.A.E Smart Hospitals Market by Application
11.4.7.3.4 U.A.E Smart Hospitals Market by Connectivity
11.4.7.4 Rest of Middle East and Africa Smart Hospitals Market
11.4.7.4.1 Rest of Middle East and Africa Smart Hospitals Market by Component
11.4.7.4.2 Rest of Middle East and Africa Smart Hospitals Market by Technology
11.4.7.4.3 Rest of Middle East and Africa Smart Hospitals Market by Application
11.4.7.4.4 Rest of Middle East and Africa Smart Hospitals Market by Connectivity
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Smart Hospitals Market Overview
11.5.2 South and Central America Smart Hospitals Market Forecasts and Analysis
11.5.3 South and Central America Smart Hospitals Market Forecasts and Analysis - By Component
11.5.4 South and Central America Smart Hospitals Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Smart Hospitals Market Forecasts and Analysis - By Application
11.5.6 South and Central America Smart Hospitals Market Forecasts and Analysis - By Connectivity
11.5.7 South and Central America Smart Hospitals Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Smart Hospitals Market
11.5.7.1.1 Brazil Smart Hospitals Market by Component
11.5.7.1.2 Brazil Smart Hospitals Market by Technology
11.5.7.1.3 Brazil Smart Hospitals Market by Application
11.5.7.1.4 Brazil Smart Hospitals Market by Connectivity
11.5.7.2 Argentina Smart Hospitals Market
11.5.7.2.1 Argentina Smart Hospitals Market by Component
11.5.7.2.2 Argentina Smart Hospitals Market by Technology
11.5.7.2.3 Argentina Smart Hospitals Market by Application
11.5.7.2.4 Argentina Smart Hospitals Market by Connectivity
11.5.7.3 Rest of South and Central America Smart Hospitals Market
11.5.7.3.1 Rest of South and Central America Smart Hospitals Market by Component
11.5.7.3.2 Rest of South and Central America Smart Hospitals Market by Technology
11.5.7.3.3 Rest of South and Central America Smart Hospitals Market by Application
11.5.7.3.4 Rest of South and Central America Smart Hospitals Market by Connectivity
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL SMART HOSPITALS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. SMART HOSPITALS MARKET, KEY COMPANY PROFILES
14.1. STANLEY HEALTHCARE
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. QUALCOMM TECHNOLOGIES, INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. KONINKLIJKE PHILIPS N.V.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. ALLSCRIPTS HEALTHCARE, LLC
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. MCKESSON CORPORATION
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. CERNER CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. HONEYWELL INTERNATIONAL INC.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. GE HEALTHCARE
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. SAP SE
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. COGNIZANT
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Stanley Healthcare
2. Qualcomm Technologies, Inc.
3. Koninklijke Philips N.V.
4. Allscripts Healthcare, LLC
5. McKesson Corporation
6. Cerner Corporation
7. Honeywell International Inc.
8. GE Healthcare
9. SAP SE
10. Cognizant
11. Medtronic
12. Honeywell Life Care Solutions
13. Microsoft
14. Diabetizer
15. Proteus Digital Health
16. AdhereTECH
17. PhysIQ
18. IQVIA
19. Wipro Limited
20. SCIOInspire, Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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