North America Internet of Things (IOT) Healthcare Market, By Component (Medical Devices, Systems And Software, Services), Connectivity Technology (Wi-Fi, Bluetooth Low Energy, Zigbee, Near Field Communication (NFC), Cellular , Satellite), Application (Clinical Operations and Workflow Management, Patient Monitoring, Clinical Imaging, Drug Development, Fitness and Wellness Measurement), End User (Healthcare Providers, Patients, Healthcare Payers, Research Laboratories, Government Authority), Country (U.S., Canada, Mexico) – Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Internet of Things (IOT) Healthcare Market
The internet of things (IOT) healthcare market is expected to witness market growth at a rate of 30.5% in the forecast period of 2021 to 2028. Data Bridge Market Research report on internet of things (IOT) healthcare market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the demand from various industry verticals is escalating the growth of internet of things (IOT) healthcare market.
The internet of things (IoT) refers to the network of physical devices that makes the use of connectivity for enabling the exchange of data. IoT is utilized for the data collection, monitoring electronic health records, and analysis for research which contains protected health information, personally identifiable information, and for other machine-generated healthcare data. IoT applications in healthcare facilitates important tasks including patient outcomes, and taking off health practitioners.
The increase in demand for wearable devices amid the COVID-19 outbreak across the globe acts as one of the major factors driving the growth of internet of things (IOT) healthcare market. The growth and increased adoption of high-speed network technologies for IoT connectivity, and high focus on active patient engagement and patient-centric care accelerate the market growth. The increase in the need for the adoption of cost control measures in healthcare and evolution of complementing technologies, such as artificial intelligence and big data further influence the market. Additionally, surge in investments, large generation of data, surge in investments, rise in number of internet users and need for healthcare in remote locations positively affect the internet of things (IOT) healthcare market. Furthermore, low doctor-to-patient ratio leading to increased dependency on self-operated eHealth platforms and government initiatives for promoting digital health extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, internet disruptions leading to rugged IoT device performance and outdated infrastructure hindering the digital growth of the medical industry are expected to obstruct the market growth. Increase in attack surfaces with a rise in IoT devices due to data security constrictions and integration of multiple devices and protocols leading to data overload and accuracy are projected to challenge the internet of things (IOT) healthcare market in the forecast period of 2021-2028.
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 localized 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, geographic 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.
North America Internet of Things (IOT) Healthcare Market Scope and Market Size
The internet of things (IOT) healthcare market is segmented on the basis of component, connectivity technology, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the internet of things (IOT) healthcare market is segmented into medical devices, systems and software and services. Medical devices are further segmented into wearable external medical devices, implanted medical devices and stationary medical devices. Systems and software are further segmented into remote device management, network bandwidth management, data analytics, application security and network security. Services are further segmented into deployment and integration, consulting and support and maintenance.
- On the basis of connectivity technology, the internet of things (IOT) healthcare market has been segmented into wi-fi, Bluetooth low energy, zigbee, near field communication (NFC), cellular, and satellite.
- On the basis of application, the internet of things (IOT) healthcare market has been segmented into patient monitoring, clinical operation and workflow optimization, clinical imaging, fitness and wellness measurement, and drug development.
- On the basis of end user, the internet of things (IOT) healthcare market has been segmented into healthcare providers, patients, healthcare payers, research laboratories, and government authority.
North America Internet of Things (IOT) Healthcare Market Country Level Analysis
The internet of things (IOT) healthcare market is analyzed and market size insights and trends are provided by country, component, connectivity technology, application and end user as referenced above.
The countries covered in the North America internet of things (IOT) healthcare market report are U.S., Canada and Mexico in North America.
U.S. dominates the North America internet of things (IOT) healthcare market due to penetration of connected devices in healthcare and growing investments for healthcare IoT solutions in the region.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 North America 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, regional presence, 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 Koninklijke Philips NV, SAP SE, CISCO Systems Inc., IBM Corporation, GENERAL ELECTRIC COMPANY, IBM Corporation, Microsoft, Capsule Technologies Inc., Diabetizer GmbH, Proteus Digital Health, Inc., Adheretech and Honeywell International Inc., among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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