Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global care communications market size was USD 2.51 Billion in 2022 and is expected to register a revenue CAGR of 14.5% during the forecast period, according to the latest analysis by Emergen Research. Increase in AI and ML technologies in healthcare is a major factor driving the market revenue growth. Communication is a critical component of effective healthcare that influences many patient and doctor outcomes, yet it is complex and difficult to analyze and teach.
Apps and AI technology can also significantly improve a hospital's or medical center's brand visibility. Improved patient care, more Internet presence, and 24-hour availability all work together to assist any healthcare organization in finding new sources of development and revenue. Many large healthcare systems have online patient portals where patients can send messages to doctors, arrange appointments, examine test results, renew prescriptions, pay bills, and more. Online portals have made it easier for people to get critical health data and for clinicians to communicate with their patients.
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However, high installation costs of care communication technology are expected to restrain the market revenue growth. Care communication technology often involves deployment of specialized software such as secure communication systems, telehealth platforms, Electronic Health Record (her) integrations, and patient monitoring devices. These solutions require customization and integration of communication technologies to align with their specific workflows and systems. These technologies necessitate staff training and education.
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 2.51 Billion |
| CAGR (2023–2032) | 14.5% |
| Revenue forecast to 2032 | USD 9.76 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, deployment, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Johnson Controls International Plc, Hill-Rom Holdings, Inc., Cisco Systems Inc., Cerner Corporation, Symplr, Koninklijke Philips N.V., NEC Corporation, Plantronics, Inc., Vocera Communications, Avaya LLC, and Spok Holdings, Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global care communications market is fragmented, with several medium and large-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new solutions for care communications. Some major players included in the global care communications market report are:
- Johnson Controls International Plc
- Hill-Rom Holdings, Inc.
- Cisco Systems Inc
- Cerner Corporation
- Symplr
- Koninklijke Philips N.V.
- NEC Corporation
- Plantronics, Inc.
- Vocera Communications
- Avaya LLC
- Spok Holdings, Inc
Strategic Development
- In August 2023, NEC Corporation of America (NEC), a leading producer and integrator of advanced IT, communications, and networking solutions, announced the addition of additional healthcare integrations to its UNIVERGE BLUE cloud services portfolio. These connections connect the omnichannel UNIVERGE BLUE ENGAGE contact center solution to industry-leading Electronic Health Record (EHR) systems such as Epic, ORACLE Cerner, and MEDITECH.
- In February 2023, RingCentral, Inc., a global provider of enterprise cloud communications, video meetings, collaboration, and contact center solutions, announced an expanded strategic partnership agreement with Avaya Inc., a global provider of solutions to improve and simplify communications and collaboration.
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Some Key Highlights From the Report
- The software segment accounted for a significantly large revenue share in the global care communications market in 2022. Revenue growth of the software segment is driven by increasing adoption of digital technologies in the healthcare industry. Healthcare organizations are rapidly embracing clinical communication and collaboration software to improve clinical processes, enhance patient care, and reduce expenses. This software empowers healthcare professionals to securely share critical patient information, collaborate in real time, and access clinical data from any location. In addition, it simplifies administrative tasks and optimizes clinical operations, allowing healthcare providers to focus more on delivering patient care.
- The on-premises segment accounted for largest revenue share in 2022. The increasing use of data storage and access systems within hospitals and clinics is leading to expansion of the on-premises segment. Healthcare institutions have strengthened their IT infrastructure to meet their expanding data needs. Historically, these organizations were hesitant to embrace cloud-based deployment and have preferred on-premises solutions because IT administrators have more control over the physical data centers. The growing investment by hospitals and clinics in enhancing their IT infrastructure has contributed to revenue growth of this segment.
- The care communications market in North America is expected to account for largest revenue share over the forecast period. Rising demand for telehealth services in this region is driving market revenue growth. Moreover, incorporation of a smart, efficient healthcare system also contributes to the region's rapid market revenue growth.
Browse the complete Global Care Communications Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/care-communications-market
Emergen Research has segmented the global care communications market on the basis of component, deployment, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Software
- Service
- Deployment Outlook (Revenue, USD Billion; 2019-2032)
- Cloud
- On-Premises
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals
- Clinics
- Long-term Care Facilities
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
-
- U.S.
- Canada
- Mexico
-
- Europe
-
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of APAC
-
- Latin America
-
- Brazil
- Rest of LATAM
-
- Middle East & Africa
-
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
-
- North America
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