Global Internet of Things (IoT) Healthcare Market, By Component (Medical Devices, Systems and Software and Services), Application (Telemedicine, Clinical Operations and Workflow Management, Connected Imaging, Inpatient Monitoring, Medication Management and Others), Connectivity Technology (Wi-Fi, Bluetooth Low Energy (BLE), ZigBee, Near Field Communication (NFC), Cellular and Satellite), End User (Hospitals, Surgical Centres, and Clinics, Clinical Research Organization (CRO), Government and Defense Institutions, Research and Diagnostics Laboratories and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Surge in the research and development proficiencies for internet of things technology, growing adoption of connected devices by the healthcare industry and surge in the awareness about advanced technologies such as cloud-based solutions are the major factors attributable to the growth of the internet of things (IoT) healthcare market. Data Bridge Market Research analyses that the internet of things (IoT) healthcare market will exhibit a CAGR of 18.27% for the forecast period of 2021-2028. Therefore, the market value would stand tall by USD 446.52 billion by 2028.
Internet of things is a cloud based system that offers connected devices and technology that helps to integrate the whole system from just one place. This system allows exchange of information and instructions amongst all the connected devices.
Growing technological advancements in the healthcare sector coupled with rising adoption of advanced technologies such as artificial intelligence will emerge as the major market growth driving factor. Surge in the penetration of high speed internet and increasing incidences of chronic diseases will further aggravate the growth of the market. Growing adoption of cloud based technologies, rising concentration on active patient engagement and patient-centric care and growing availability of wearable devices are some other factors bolstering the growth of market.
However, lack of skilled workforce and technological expertise to deploy internet of things solutions in underdeveloped and developing economies will act as a growth restraint for the market. Dearth of governing standards and data security issues will yet again hamper the market growth rate. High deployment costs will also hamper the market growth rate.
This internet of things (IoT) healthcare market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on internet of things (IoT) healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Internet of Things (IoT) Healthcare Market Scope and Market Size
The internet of things (IoT) healthcare market is segmented on the basis of component, application, connectivity technology and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the internet of things (IoT) healthcare market is segmented into medical devices, systems and software and services. Medical devices segment is sub-segmented into wearable external medical devices, implanted medical devices and stationary medical devices. Systems and software segment is sub-segmented into remote device management, network bandwidth management, data analytics, application security and network security. Services segment is sub-segmented into system integration services, professional services and support and maintenance services
- On the basis of application, the internet of things (IoT) healthcare market is segmented into telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management and others. Telemedicine segment is sub-segmented into store-and-forward telemedicine, remote patient monitoring and interactive telemedicine.
- On the basis of connectivity technology, the internet of things (IoT) healthcare market is segmented into Wi-Fi, Bluetooth low energy (BLE), zigBee, near field communication (NFC), cellular and satellite.
- On the basis of end user, the internet of things (IoT) healthcare market is segmented into hospitals, surgical centres, and clinics, clinical research organization (CRO), government and defense institutions, research and diagnostics laboratories and others.
Internet of Things (IoT) Healthcare Market Country Level Analysis
The internet of things (IoT) healthcare market is analysed and market size, volume information is provided by country, component, application, connectivity technology and end user as referenced above.
The countries covered in the internet of things (IoT) healthcare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the internet of things (IoT) healthcare market and will continue to flourish its trend of dominance during the forecast period owing to the rising adoption of cloud based solutions. Asia-Pacific will however, register the highest CAGR for this period. This is because of the growing technological advancements in the healthcare sector.
The country section of the internet of things (IoT) healthcare market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Internet of Things (IoT) Healthcare Market Share Analysis
The internet of things (IoT) healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to internet of things (IoT) healthcare market.
The major players covered in the internet of things (IoT) healthcare market report are Cisco Systems, Inc., GENERAL ELECTRIC COMPANY, Medtronic, Microosoft, Alphabet Inc., Apple Inc., SAP, ABB, Huawei Technologies Co. Ltd, Siemens, Hitachi Vantara Corporation, Qualcomm Technologies Inc., Oracle, CARRÉ TECHNOLOGIES INC., Breathometer Inc., Boston Scientific Corporation, Meru Health., Atlas Wearables, Inc., NeuroMetrix, Inc., Honeywell International Inc., VitalConnect., Ekso Bionics, BL Healthcare, Inc., BioSerenity, Preventice Solutions, Inc., Vitls Inc., AliveCor, Inc., Chrono Therapeutics Inc., Lenovo and Koninklijke Philips N.V., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Internet of Things (IoT) Healthcare Market
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