IoT and Virtual Hospital Market is estimated to be valued at USD 20.34 Bn in 2025 and is expected to reach USD 66.35 Bn by 2032, growing at a compound annual growth rate (CAGR) of 18.4% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 20.34 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
18.40%
2032 Value Projection:
USD 66.35 Bn
The Internet of Things (IoT) and emergence of virtual hospitals are revolutionizing the future of healthcare globally. IoT refers to the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity, which enables these things to connect, collect, and exchange data. The trend of IoT integration in healthcare sector promises improved patient care through monitoring health remotely and preventive care. On the other hand, virtual hospitals utilize digital technology and tools to deliver outpatient services and specialized care to people in remote locations. This approach helps overcome challenges of limited physical infrastructure and staff shortage in rural areas. Gradually, IoT backed virtual hospitals would become a go-to solution for non-emergency care services worldwide.
Market Dynamics
The global IoT and virtual hospital market is driven by the rising need for improved and affordable healthcare amid growing geriatric population, increasing incidence of chronic diseases, and shortage of doctors in several regions. However, high investment requirements for setting up virtual infrastructure, data security concerns pertaining to privacy of patient records, and interoperability issues between different IoT medical devices act as restraints. Meanwhile, the market sees lucrative opportunities from the growing adoption of telehealth and telemedicine services. The COVID-19 pandemic further accelerated the digital transformation of the healthcare sector and boosted remote patient monitoring and virtual consultations using IoT-based solutions.
Increasing adoption of IoT in healthcare is expected to boost the growth of the global IOT and virtual hospital market over the forecast period. For instance, in January 2021, Ivanti, the automation platform that helps make every IT connection smarter and more secure, announced the release of Ivanti Neurons for healthcare, which enhances visibility into medical IoT devices and enables security teams to proactively detect and remediate vulnerabilities. Ivanti Neurons also now integrates with MobileIron Cloud, providing a single pane of glass for enterprises to self-heal and self-secure devices, and self-service end users. With a new application service mapping add-on for Ivanti Neurons for Discovery, IT teams can profile and mitigate risks associated with changes and achieve faster recovery from unexpected downtime.
Key Features of the Study
This report provides an in-depth analysis of the global IOT and virtual hospital market, and provides market size (USD Bn) and compound annual growth rate (CAGR %) for the forecast period 2025-2032, considering 2024 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global IOT and virtual hospital market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Microsoft, IBM, Oracle, GE Healthcare, Siemens, Cerner, Allscripts, McKesson, Koninklijke Philips, and Medtronic.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global IOT and virtual hospital market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global IOT and virtual hospital market.
Market Segmentation
Global IOT and Virtual Hospital Market, By Component
Hardware
Software and Services
Connectivity Devices
Global IOT and Virtual Hospital Market, By Application
Remote Patient Monitoring
Telemedicine
Store And Forward Telemedicine
Mhealth
Others
Global IOT and Virtual Hospital Market, By End User
Hospitals And Surgical Centers
Clinical Research Organizations
Government And Defense Organizations
Research And Diagnostics Laboratories
Global IOT and Virtual Hospital Market, By Region
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Top Companies in the Global IOT and Virtual Hospital Market:
Microsoft
IBM
Oracle
GE Healthcare
Siemens
Cerner
Allscripts
McKesson
Koninklijke Philips
Medtronic
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global IoT and Virtual Hospital Market, By Component
Global IoT and Virtual Hospital Market, By Application
Global IoT and Virtual Hospital Market, By End User
Global IoT and Virtual Hospital Market, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Growing Adoption of Connected Devices and Connectivity
Increasing Demand for Remote Patient Monitoring
Growing Need for Real-time Healthcare Delivery
Key Highlights
Regulatory Scenario
Recent Trends
PEST Analysis
PORTER's Analysis
Mergers, Acquisitions, and Collaborations
4. Global IoT and Virtual Hospital Market, By Component, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Hardware
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Software and Services
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Connectivity Devices
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
5. Global IoT and Virtual Hospital Market, By Application, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Remote Patient Monitoring
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Telemedicine
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Store and Forward Telemedicine
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Mhealth
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
6. Global IoT and Virtual Hospital Market, By End User, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Hospitals and Surgical Centers
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Clinical Research Organizations
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Government and Defence Organizations
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
Research and Diagnostics Laboratories
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(USD Bn)
7. Global IoT and Virtual Hospital Market, By Region, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, For Region, 2021 -2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(USD Bn)
U.S.
Canada
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(USD Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(USD Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(USD Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(USD Bn)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2020-2032,(USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2020-2032,(USD Bn)