IoT Healthcare Market to witness 15% growth from 2017 to 2024: Global Market Insights, Inc. IoT Infrastructure Market is primarily driven by the implementation of advanced digital solutions across the sector. The integration of such technology in the healthcare infrastructure is expected to streamline the operations, improvise the patient interactions and enhance the efficiency of processes. Increasing penetration of smartphones coupled with the improved internet connectivity worldwide is expected to fuel the growth. IoT has potential to reshape the industry due to the benefits such as remote monitoring of patients and management of facility assets.
The differentiating factor of IoT Healthcare Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Increasing aging population in Japan and several other European countries such as Italy & Germany coupled with the rising number of chronic diseases will drive the IoT healthcare market growth over the forecast timeline. Technological advancements in the sector to provide accessible & inexpensive patient care solutions widens the scope for adoption of such solutions. It is gradually transforming the sector by focusing on the way devices, application as well as people interact with each other. Lack of interoperability may hamper the IoT healthcare market growth. Interoperable systems enable share & retention of data automatically, eliminating the possibility of re-entering data each time. Issues such as difficulty in integration of devices made by different manufacturers, their inability to operate on other operating systems, poses challenge to mass consumerization of IoT solutions. In order to reach mass adoption, overcoming such risks restricting boundless connections of a connected world is a primary concern to the technology providers. 1|Page
Other factors such as high cost of infrastructure development followed by data privacy & security issues are predicted to curb the demand. Rising deployment of smart sensor technology in various systems enhances the capability of IoT healthcare market devices to collect more data associated with patient’s health. US IoT healthcare market, by application, 2016 & 2024 (USD Billion)
Browse key industry insights spread across 130 pages with 155 market data tables & 12 figures & charts from the report, “IoT Healthcare Market Size By Platform (Network Management, Device Management, Application Management), By Technology (Sensors, RFID, Connectivity Technology), By Component (Hardware, Software [Data Management, Streaming Analytics, Security, Remote Monitoring, Bandwidth Management]), By Service (Professional Service, Managed Service), By Application (Remote Monitoring, Telemedicine, Inventory Management), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Malaysia, Singapore, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/iot-healthcare-market North America dominates the IoT healthcare market with significant revenue share. The growth is attributed to the presence of large number of advanced infrastructure in the region. Advancements in technology and devices coupled with rising spending on the infrastructure further contributes to the market growth.
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Asia Pacific IoT healthcare market is expected to witness significant growth owing to rising number of medical facilities. Moreover, the increasing investment in the sector to improve the infrastructure and address issues such as corruption, several countries are planning to introduce innovative models such as e-catalogs and price transparency procedures that will contribute in the demand for advanced solutions. Players in the IoT healthcare market include Microsoft Corporation, General Electric, IBM Corporation, Honeywell International Inc. and Cisco Systems Inc, Stanley Healthcare, Qualcomm Inc., SAP SE and Medtronic Inc. Considering the potential of implementing IoT solutions in the sector, players are increasingly investing on developing infrastructure for deployment of such technological solutions.
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