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Smart Healthcare Market to Grow by USD 125.7 Billion (2024-2028), Rising Demand for Remote Health Monitoring Boosts Market, with AI Redefining Trends – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global smart healthcare market size is estimated to grow by USD 125.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.31% during the forecast period. Growing demand for remote health monitoring is driving market growth, with a trend towards iot in healthcare. However, high costs involved with smart healthcare poses a challenge. Key market players include AirStrip Technologies Inc., Allscripts Healthcare Solutions, Apple Inc., AT&T Inc., Bollhoff Group, Brooks Automation, Cerner Corporation, Cisco, GE Healthcare, Given Imaging, Inc., Hurst Green Plastics Ltd., IBM, Logi-Tag, McKesson Corporation, Olympus Corporation, Pepperl+Fuchs, Samsung Electronics Corporation, Siemens Medical Solutions, Solstice Medical LLC, Stanley Innerspac.

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Smart Healthcare Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.31%

Market growth 2024-2028

USD 125.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.6

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 44%

Key countries

US, Germany, UK, Canada, and Japan

Key companies profiled

AirStrip Technologies Inc., Allscripts Healthcare Solutions, Apple Inc., AT&T Inc., Bollhoff Group, Brooks Automation, Cerner Corporation, Cisco, GE Healthcare, Given Imaging, Inc., Hurst Green Plastics Ltd., IBM, Logi-Tag, McKesson Corporation, Olympus Corporation, Pepperl+Fuchs, Samsung Electronics Corporation, Siemens Medical Solutions, Solstice Medical LLC, Stanley Innerspac

Market Driver

The Smart Healthcare Market is experiencing significant growth due to the adoption of mHealth solutions, such as Vera Smart Health and Teladoc Health. RFID and Real-Time Location Systems are revolutionizing patient care by enabling real-time monitoring of vital signs like blood pressure, heart rate, oxygen level, and temperature. Smart healthcare products, including wearable devices, are transforming healthcare through cloud communication and big data analysis. Information technologies like artificial intelligence and machine learning are improving healthcare outcomes by providing personalized care. However, approvals and digital literacy remain challenges. Key market participants include traditional medical systems, caregivers, patients, families, physicians, hospitals, insurance companies, and Oral Biology research institutes. Sensor-based IoT technology is enabling remote monitoring for cognitive impairment and surgery. The advantages of smart healthcare are numerous, but high costs remain a concern. EHealth initiatives using cell phones and tablets, health-related apps, and smart wearable devices are driving market growth. Market restraints include RFID Kanban Systems and RFID Smart Cabinets, as well as Electronic Health Records and Telemedicine. Smart syringes, medicines, and RFID cabinets are also gaining popularity. The future of healthcare is connected, digital, and personalized. 

The smart healthcare market is experiencing significant growth due to the increasing adoption of Internet of Things (IoT) technology in the healthcare industry. IoT enables real-time monitoring of patients, bridging the gap between physical and digital data sources. This innovation improves patient access to services, reduces operational burdens on healthcare facilities, and supports the development of digital healthcare ecosystems. Healthcare institutions are transitioning to connected hospital infrastructures, enhancing care delivery through IoT’s diverse applications, both inside and outside medical facilities. 

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Market Challenges

The Smart Healthcare Market is experiencing significant growth due to the integration of information technologies like mHealth, Vera Smart Health, and Teladoc Health. Wearable devices, such as smartwatches and health monitors, are leading the charge with real-time monitoring of vital signs like blood pressure, heart rate, oxygen level, and temperature. RFID and real-time location systems enable efficient inventory management of smart healthcare products. However, challenges remain. Regulatory approvals for cognitive impairment devices and device integration with traditional medical systems can be time-consuming. High costs and digital literacy levels are also barriers to entry. Key market participants include healthcare providers, caregivers, patients, families, physicians, hospitals, insurance companies, and Oral Biology research institutes. Advantages of smart healthcare include improved health outcomes, remote patient monitoring, and cost savings. Digital health programs, eHealth, and health research are driving innovation in areas like acoustic resonance for lung function and asthma management, essential cardiology, and blood glucose monitors. The market is also seeing the emergence of smart syringes, medicines, RFID cabinets, and wearable devices for surgery preparation. Market restraints include the high cost of implementing infrastructure, RFID Kanban systems, RFID Smart Cabinets, and Electronic Health Records. Telemedicine and smart pills are also areas of growth, but face challenges related to patient trust and privacy concerns. Overall, the market for smart healthcare items and digital technology is poised for continued growth, with cell phones, tablets, and health-related apps playing a significant role.The cost of implementing smart healthcare solutions, such as biosensors and Electronic Health Records (EHR), remains a significant barrier to their widespread adoption. For instance, the high cost of producing biosensors, which include components like pills, fluidic sensors, flow meters, gyroscopes, and micro dispensers, significantly increases the final product price. Consumers are hesitant to invest in these devices due to their high cost. Similarly, the integration of EHR systems involves substantial expenses, posing a challenge for the global EHR market growth. These costs hinder the expansion of smart healthcare applications into new areas.

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Segment Overview 

This smart healthcare market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineSolution 2.1 Telemedicine2.2 mHealth2.3 EHR2.4 Smart pills2.5 OthersGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)Application

1.1 Offline- The offline segment of the global smart healthcare market encompasses traditional distribution channels for delivering smart healthcare products and services to consumers. Offline retail stores, such as specialty stores, healthcare equipment stores, and electronics stores, serve as crucial distribution points for these devices. Medical equipment suppliers and distributors also play a pivotal role in offline distribution, leveraging relationships with healthcare providers, hospitals, clinics, and pharmacies to distribute advanced medical devices, telehealth systems, and remote patient monitoring equipment. These channels offer customers a personalized experience, enabling them to physically engage with smart healthcare products, receive expert advice, and address concerns. Trust and credibility built over time by providing reliable products, professional expertise, and dependable after-sales support contribute to the preference for offline distribution channels among consumers. This face-to-face interaction enhances customer satisfaction and is expected to fuel the growth of the offline segment in the global smart healthcare market.

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Research Analysis

The Smart Healthcare Market is experiencing rapid growth as mHealth solutions and advanced technologies revolutionize healthcare delivery. Vera Smart Health and Teladoc Health are leading the charge with telehealth services, allowing patients to consult with healthcare professionals remotely. NHS U and other institutions are adopting RFID and Real-Time Location Systems to manage inventory and streamline processes. Apple and other tech giants are introducing smart healthcare products, such as smart wearables that monitor vital signs like blood pressure, heart rate, oxygen level, and temperature. Information technologies like big data and cloud computing enable the collection, analysis, and sharing of health information, enhancing patient care. Smart healthcare items, including smart syringes and medicines, offer improved safety and efficiency. Digital technology and smart RFID cabinets facilitate automated medication dispensing and inventory management. Overall, the integration of digital technology and mHealth is transforming healthcare, offering more personalized, convenient, and efficient care.

Market Research Overview

Smart Healthcare Market: Transforming Traditional Healthcare with mHealth and Information Technologies The Smart Healthcare Market is revolutionizing the traditional healthcare system with the integration of mHealth, RFID, Real-Time Location Systems, and advanced information technologies. These innovations enable remote patient monitoring, real-time health data analysis, and improved communication between caregivers, patients, families, physicians, hospitals, and insurance companies. Smart healthcare products, such as wearable devices, blood pressure monitors, heart rate monitors, oxygen level sensors, and temperature sensors, are essential components of this market. These devices utilize sensor-based IoT technology, enabling real-time data collection and analysis, which can lead to better health outcomes. Advancements in digital health, including eHealth, cell phones, tablets, health-related apps, and smart wearable devices, have made healthcare more accessible and convenient. However, high costs and market restraints, such as approvals and digital literacy, may hinder the growth of this market. The Smart Healthcare Market encompasses various sectors, including Oral Biology, Craniofacial Research, medical record-keeping, device integration, illness causes, and surgery. It also includes advantages like acoustic resonance for lung function assessment, asthma management, essential cardiology, blood glucose monitors, smartwatches, health monitors, pedometers, activity trackers, and smart syringes, among others. Moreover, the market includes smart RFID cabinets, remote monitoring, and telemedicine. Key market participants are continuously developing innovative solutions to address the challenges of this market, including RFID Kanban Systems, RFID Smart Cabinets, and Electronic Health Records. In conclusion, the Smart Healthcare Market is transforming the healthcare landscape with its advanced technologies, enabling better patient care, improved health outcomes, and increased efficiency in healthcare services and health research.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineSolutionTelemedicineMHealthEHRSmart PillsOthersGeographyNorth AmericaEuropeAsiaRest Of World (ROW)Application

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Solestial to be Featured in Google Workspace Big Game Commercial

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Space startup to represent Arizona in Google’s “50 States, 50 Stories” campaign

TEMPE, Ariz., Feb. 6, 2025 /PRNewswire/ — Tempe space startup Solestial, Inc. (“Solestial”), will be featured in a Google Workspace commercial scheduled to air Sunday February 9, on Fox networks in the Arizona market during America’s most-watched football game. The ad, which features Solestial CEO Stan Herasimenka and other employees, showcases the cutting-edge solar technology for space being developed by Solestial and how the company is using Google’s AI tool, Gemini.

The company was handpicked by Google to represent Arizona as part of its “50 States, 50 Stories” campaign, which features 50 small businesses from across the United States. Google’s goal for the 30-second ad was to select a wide array of businesses from different locations and industries and highlight the many ways customers, like Solestial, are using AI.

“We were honored to be selected from among many innovative Arizona technology companies for Google’s campaign. It’s every business’s dream to be featured in a commercial during football’s premier event,” said Solestial CEO, Stan Herasimenka. “We are hopeful that the media attention will increase awareness of our next-generation silicon solar technology within the space industry, federal agencies, and the military. Beyond that, our team is really looking forward to seeing the commercial air on game day. It’s a company milestone none of us will ever forget.”

Solestial’s Google Workspace commercial, and all “50 states, 50 stories” commercials, are available on the Google Workspace website and on YouTube.

About Solestial

Solestial exists to deliver abundant energy in space. The company’s breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in lower production costs than traditional III-V multijunction solar products.

From today’s satellite constellations and research projects to tomorrow’s lunar settlements and services in space, Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in Tempe, Arizona. Investors include space industry leaders including AE Ventures and Airbus Ventures. To learn more, visit the Solestial website or follow Solestial on social media.

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SOURCE Solestial, Inc.

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Lumen Technologies to Attend Investor Conferences

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DENVER, Feb. 6, 2025 /PRNewswire/ — Chris Stansbury, executive vice president and chief financial officer at Lumen Technologies (NYSE: LUMN), will attend the following investor conferences:

JP Morgan Global High Yield & Leveraged Finance Conference on February 25.Raymond James Annual Institutional Investors Conference on March 3.Morgan Stanley Technology, Media & Telecom Conference on March 4.Deutsche Bank Annual Media, Internet & Telecom Conference on March 11.New Street BCG Connectivity Conference on March 26.

Live webcast links to each of the investor presentations will be made available on the Lumen Investor Relations website at https://ir.lumen.com/events-and-presentations.

About Lumen Technologies 
Lumen is unleashing the world’s digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI’s full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital platform capabilities, we meet our customers’ needs today and as they build for tomorrow.  

For additional news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies.  

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SOURCE Lumen Technologies

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ASAP Utilities wins ‘Best Microsoft Excel Add-in’ Award at the Global Excel Summit 2025

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LONDON, Feb. 6, 2025 /PRNewswire/ — ASAP Utilities has won the ‘Best Microsoft Excel Add-in’ award at the Global Excel Summit 2025. The winners were chosen through a comprehensive process that included public nominations, expert evaluations by a panel of leading Excel experts, and final voting by the global Excel community.

The Global Excel Summit, the world’s largest event for Excel users and experts, brings together thousands from around the world to share ideas, improve skills, and learn about the latest trends in Excel.

The Global Excel Awards, organized by the Global Excel Summit, celebrate excellence within the Excel community across five categories. ASAP Utilities won in the ‘Best Microsoft Excel Add-in’ category for its many tools that extend Excel’s capabilities, enhancing productivity and efficiency. Other awards categories include Rising Star in the Excel Industry, Most Innovative Use of Excel, Best LAMBDA, and Best Global Excel Summit 2025 In-Person Session.

“Winning this award is a tremendous honor and a significant compliment from the Excel community. Since 1999, we have been committed to helping Excel users by continuously developing tools that save time and perform tasks that Excel alone cannot,” said Bastien Mensink, the founder of ASAP Utilities.

Helping Excel users worldwide

Nearly a million users rely on ASAP Utilities, an essential tool for Excel users worldwide. It is also one of the few Excel add-ins available in ten languages, making it accessible to users everywhere.

ASAP Utilities is available in two editions, so everyone can benefit from working faster and accomplishing more in Excel. The Home & Student Edition is free for personal use, for students, and for charitable organizations like UNICEF and the Red Cross. The Business Edition is a one-time purchase for companies and government organizations, with a fully functional 90-day free trial to try all the features.

For more information about the Global Excel Awards, visit:  https://globalexcelsummit.com/global-excel-awards

For more information about ASAP Utilities, visit:  https://www.asap-utilities.com

Website:  https://www.asap-utilities.com

Photos which are free to use for editorial purposes can be downloaded via:  https://www.asap-utilities.com/media

Trustpilot reviews:  https://www.trustpilot.com/review/www.asap-utilities.com

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