The latest research study “Internet of Things (IOT) in Healthcare: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global Internet of Things (IOT) in Healthcare Market size reached US$ 236.86 Billion. Looking forward, IMARC Group expects the market to reach a value of US$ 666.2 Billion by 2027 exhibiting a CAGR of 17.30% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Internet of things (IoT) represents an interconnected arrangement of devices linked to the internet and can gather and transmit data over a wireless network without any human intervention.
It relies on artificial intelligence (AI) or machine learning (ML) technologies to evaluate information and offer organizations access to advanced analytics by gathering data on customer behavior.
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IoT assists in making enhanced decisions, increasing security by monitoring digital and physical infrastructure for optimizing performance, improving efficiency, and reducing safety risks. As a result, this system finds widespread applications in the healthcare sector for research analysis, data collection, and monitoring of electronic health records across the global.
Internet of Things (IOT) in Healthcare Trends and Drivers:
The escalating prevalence of chronic obstructive pulmonary disease (COPD), genetic and respiratory illnesses, arthritis, and cancer is among the primary factors driving the internet of things (IoT) in healthcare market. Besides this, the elevating demand for cost-effective treatment and enhanced disorder management across the globe is further augmenting the market growth.
In addition, Internet of Things (IOT) in Healthcare market rising utilization of smart devices and wearables in self-health measurement among individuals is also catalyzing the global market.
Moreover, the inflating number of investments by the leading manufacturers in research and development (R&D) activities to integrate artificial intelligence (AI) with IoT for an improved patient experience are acting as significant growth-inducing factors.
Apart from this, Internet of Things IOT in Healthcare Market increasing awareness among the medical personnel toward the benefits of using these devices in the healthcare industry is also stimulating the market growth. Furthermore, the launch of several policies by the government bodies to promote the usage of electronic health records (EHR) is expected to bolster the internet of things (IoT) in healthcare market in the coming years.
|Internet of Things (IOT) Market Report Scope|
|Market size value in 2021||US$ 236.86 Billion|
|Market forecast in 2027||US$ 666.2 Billion|
|Growth Rate||CAGR of 17.30% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Component, Connectivity Technology, Application, End User, Region|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||Apple Inc., Cisco Systems Inc., Comarch SA, HQSoftware, Intel Corporation, Koninklijke Philips N.V., Medtronic plc, Microsoft Corporation, Oracle Corporation, OSP Labs, Oxagile, Qualcomm Incorporated, Siemens AG and STANLEY Healthcare.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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The report has been segmented the market into following categories:
Breakup by Component:
- Medical Devices
- Wearable External Devices
- Implanted Medical Devices
- Stationary Medical Devices
System and Software
- Remote Device Management
- Network Bandwidth Management
- Data Analytics
- Application Security
- Network Security
- System Integration Services
- Consulting, Training and Education
- Support and Maintenance Services
Breakup by Connectivity Technology:
- Bluetooth Low Energy
- Near Field Communication (NFC)
Breakup by Application:
- Medication Management
- Clinical Operations
- Inpatient Monitoring
- Connected Imaging
Market Breakup by End User:
- Hospitals and Clinics
- Clinical Research Organizations
- Research and Diagnostic Laboratories
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Apple Inc., Cisco Systems Inc., Comarch SA, HQSoftware, Intel Corporation, Koninklijke Philips N.V., Medtronic plc, Microsoft Corporation, Oracle Corporation, OSP Labs, Oxagile, Qualcomm Incorporated, Siemens AG and STANLEY Healthcare.
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