The global internet of things (IOT) in healthcare market size reached US$ 323.4 Billion in 2023. Looking forward, the market is projected to reach US$ 1.11 trillion by 2032, exhibiting a growth rate (CAGR) of 14.76% during 2023-2032.
The internet of things (IoT) is an interconnected system of devices that are connected to the internet and can gather and transmit data over a wireless network without any human intervention. It relies on machine learning (ML) or artificial intelligence (AI) technologies to evaluate data and offer organizations access to advanced analytics by collecting data on customer behavior.
It helps make enhanced decisions, increase security by monitoring digital and physical infrastructure for optimizing performance, improve efficiency, and reduce safety risks. At present, there is a rise in the utilization of IoT in the healthcare sector for data collection, research analysis, and monitoring of electronic health records across the globe.
Moreover, the increasing awareness among the healthcare personnel about the benefits of using IoT-enabled devices in the healthcare industry is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to integrate artificial intelligence (AI) with IoT for an enhanced patient experience. Additionally, governments of several countries are undertaking initiatives to promote digital health and implementing various regulations for mandating the use of electronic health records (EHR), which is expected to bolster the market growth.
2. What is the expected growth rate of the global Internet of Things (IOT) in healthcare market during 2024-2032?
3. What are the key factors driving the global Internet of Things (IOT) in healthcare market?
4. What has been the impact of COVID-19 on the global Internet of Things (IOT) in healthcare market?
5. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the component?
6. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the connectivity technology?
7. What is the breakup of the global Internet of Things (IOT) in healthcare market based on application?
8. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the end user?
9. What are the key regions in the global Internet of Things (IOT) in healthcare market?
10. Who are the key players/companies in the global Internet of Things (IOT) in healthcare market?
The internet of things (IoT) is an interconnected system of devices that are connected to the internet and can gather and transmit data over a wireless network without any human intervention. It relies on machine learning (ML) or artificial intelligence (AI) technologies to evaluate data and offer organizations access to advanced analytics by collecting data on customer behavior.
It helps make enhanced decisions, increase security by monitoring digital and physical infrastructure for optimizing performance, improve efficiency, and reduce safety risks. At present, there is a rise in the utilization of IoT in the healthcare sector for data collection, research analysis, and monitoring of electronic health records across the globe.
Internet of Things (IOT) in Healthcare Market Trends
The growing prevalence of chronic obstructive pulmonary disease (COPD), genetic and respiratory diseases, arthritis, and cancer represents one of the key factors driving the market. Besides this, there is an increase in the demand for cost-effective treatment and enhanced disease management around the world. This, along with the rising employment of IoT-enabled devices in remote monitoring to keep patients safe and healthy, is contributing to the growth of the market. In addition, there is a rise in the adoption of smart devices and wearables in self-health measurement across the globe. This, coupled with the burgeoning healthcare industry, is strengthening the growth of the market.Moreover, the increasing awareness among the healthcare personnel about the benefits of using IoT-enabled devices in the healthcare industry is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to integrate artificial intelligence (AI) with IoT for an enhanced patient experience. Additionally, governments of several countries are undertaking initiatives to promote digital health and implementing various regulations for mandating the use of electronic health records (EHR), which is expected to bolster the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global internet of things (IOT) in healthcare market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, connectivity technology, application and end user.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
- Services
- System Integration Services
- Consulting, Training and Education
- Support and Maintenance Services
Breakup by Connectivity Technology:
- Wi-Fi
- Bluetooth Low Energy
- ZigBee
- Near Field Communication (NFC)
- Cellular
- Satellite
Breakup by Application:
- Telemedicine
- Medication Management
- Clinical Operations
- Inpatient Monitoring
- Connected Imaging
- Others
Breakup by End User:
- Hospitals and Clinics
- Clinical Research Organizations
- Research and Diagnostic Laboratories
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.Key Questions Answered in This Report
1. What was the size of the global Internet of Things (IOT) in healthcare market in 2023?2. What is the expected growth rate of the global Internet of Things (IOT) in healthcare market during 2024-2032?
3. What are the key factors driving the global Internet of Things (IOT) in healthcare market?
4. What has been the impact of COVID-19 on the global Internet of Things (IOT) in healthcare market?
5. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the component?
6. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the connectivity technology?
7. What is the breakup of the global Internet of Things (IOT) in healthcare market based on application?
8. What is the breakup of the global Internet of Things (IOT) in healthcare market based on the end user?
9. What are the key regions in the global Internet of Things (IOT) in healthcare market?
10. Who are the key players/companies in the global Internet of Things (IOT) in healthcare market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Internet of Things (IOT) in Healthcare Market
6 Market Breakup by Component
7 Market Breakup by Connectivity Technology
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- STANLEY Healthcare.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 323.4 Billion |
| Forecasted Market Value ( USD | $ 1110 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
