Care Communications Market - Personal Care Segment Witnessed Growth At A Rapid Rate | Explained In Detail
Companies covered in this study 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, and Spok Holdings, Inc. Jive Sotware, Microsoft Corporation, Everbridge, Ascom, TigerConnect, UDG Healthcare PLC, Intelligent Business Communication, Voalte
Jersey City, NJ, Nov. 27, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Care Communications Market- (By Component (Software, Service), By Deployment (Cloud, On-Premises), By End-Use (Hospitals, Clinics, Long-term Care Facilities, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Care Communications Market is valued at US$ 2.64 Bn in 2022, and it is expected to reach US$ 7.54 Bn by 2031, with a CAGR of 12.48% during the forecast period of 2023-2031.
Communication is a significant 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 centre'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.
The increase in AI and ML technologies in healthcare is a big factor driving the market revenue growth. Moreover, the adoption of telehealth and telemedicine technologies has been on the rise. These platforms enhance accessibility by facilitating remote consultations between healthcare providers and patients. The COVID-19 pandemic significantly boosted the adoption of telehealth. Additionally, the healthcare communication landscape faces challenges related to data privacy, interoperability between systems, and ensuring that technology doesn't compromise the doctor-patient relationship.
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Recent Developments:
In August 2023, NEC Corporation of America (NEC) revealed the incorporation of additional healthcare integrations into its UNIVERGE BLUE cloud services portfolio. These integrations link the omnichannel UNIVERGE BLUE ENGAGE contact centre solution with leading Electronic Health Record (EHR) systems like Epic, ORACLE Cerner, and MEDITECH.
In February 2023, RingCentral, Inc. expanded its strategic partnership agreement with Avaya Inc., a global provider of solutions aimed at enhancing and streamlining communication and collaboration.
Care Communications Market Report Scope:
Report Attribute | Specifications |
Market Size Value In 2022 | USD 2.64 Bn |
Revenue Forecast In 2031 | USD 7.54 Bn |
Growth Rate CAGR | CAGR of 12.4 % from 2023 to 2031 |
Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
Historic Year | 2019 to 2022 |
Forecast Year | 2023-2031 |
Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered | By Component, Deployment, End-Use |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
List of Prominent Players in the Care Communications Market:
Johnson Controls International Plc
Hill-Rom Holdings, Inc.
Cisco Systems Inc
Cerner Corporation
Sympli
Koninklijke Philips N.V.
NEC Corporation
Plantronics, Inc.
Vocera Communications
Avaya LLC
Spok Holdings, Inc
Jive Sotware
Microsoft Corporation
Everbridge
Ascom
TigerConnect
UDG Healthcare PLC
Intelligent Business Communication
Voalte
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Market Dynamics:
Drivers-
The rapid growth of telehealth and telemedicine has significantly increased the demand for communication tools that enable remote consultations, video conferencing, and secure messaging between healthcare providers and patients. The shift toward patient-centric care emphasizes the importance of effective communication within patients and their healthcare providers. Communication tools and platforms that empower patients to be more involved in their care are in demand. Engaging patients in their healthcare can lead to better outcomes. Communication tools that enhance patient engagement, such as patient portals and mobile apps, are in demand.
Challenges:
The absence of standardized protocols and formats for healthcare data and communication can hinder the seamless exchange of information between different systems and platforms. The healthcare sector is a unique target for cyberattacks due to the value of patient data. The need for cybersecurity measures to protect sensitive information can restrain technology adoption. Healthcare is subject to numerous complex regulations, which can vary by region. Complying with these regulations and staying updated with changes can be a significant challenge for healthcare organizations.
Regional Trends:
The North American care communications market is expected to register a major market share. The North American care communication market is experiencing rapid revenue growth due to the increasing demand for telehealth services and the integration of a smart and efficient healthcare system. Factors driving this growth include Higher healthcare expenditure, rising demand for automated technology, and An increasing number of patients. A growing senior population and the need for efficient data storage and communication within hospitals and clinics. In addition, the Asia Pacific region held a significant portion of the market due to its well-developed economy and increasing product usage. This is a result of the implementation of novel strategies by the key participants in the care communications sector. Furthermore, the global care communications market is poised for expansion due to the existence of influential market players and the growing collaboration among leading industry participants to expand their market share in the region.
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Segmentation of Care Communications Market-
By Component
Software
Service
By Deployment
Cloud
On-Premises
By End-Use
Hospitals
Clinics
Long-term Care Facilities
Others
By Region-
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of Middle East and Africa
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