Global Internet of Things in Healthcare Market is valued approximately USD 252.1 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 16.80% over the forecast period 2023-2030. The Internet of Things (IoT) in the healthcare market refers to the application of IoT technology and solutions in the healthcare industry. IoT involves connecting various physical devices and objects to the internet and enabling them to communicate, collect and exchange data, and perform automated actions. The major driving factors for the Global Internet of Things in Healthcare Market are increasing usage of smartphones, growing geriatric population, and increasing adoption of remote patient monitoring. Moreover, technological advancements and rising demand for IoT solutions in healthcare is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
One of the key elements driving the rise of the internet of things in the healthcare sector is the high penetration of smartphones. According to The Mobile Economy 2022, 67% of the world’s population had smartphones in 2021, and 85% are predicted to have them by 2025. The demand for IoT solutions is rising in part due to a growth in the number of mobile subscriptions. Increased mobile subscriptions in developing nations including India, Indonesia, China, Bangladesh, and several African and Latin American nations are anticipated to fuel market expansion. Additionally, expanding network coverage and ongoing network infrastructure upgrades are giving the major players in the market chances to expand their market share. However, the high cost of Internet of Things in Healthcare stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Internet of Things in Healthcare Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, North America is expected to be a significant market for IoT in healthcare due to the presence of advanced healthcare infrastructure, technological advancements, and high adoption rates of IoT solutions. The United States, in particular, is a key player in this region, with several companies investing in IoT applications for healthcare. The Asia Pacific region is witnessing rapid growth in the IoT healthcare market. Factors such as increasing healthcare expenditure, expanding healthcare infrastructure, and the rising demand for connected healthcare solutions drive the market in countries like China, Japan, India, and South Korea.
Major market player included in this report are:
Cisco Systems, Inc.
International Business Machines Corporation
Recent Developments in the Market:
Ø In June 2022, business introduced the Allia platform, which was created for minimally invasive image-guided surgery. A lengthy design process including surgeons and interventionists produced the platform. The goals of Allia’s design were to increase the use of picture guidance in everyday practise, increase workflow efficiency, and improve user experience.
Global Internet of Things in Healthcare Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Connectivity Technology, Application, End-use Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
System and Software
By Connectivity Technology:
Hospitals and Clinics
Clinical Research Organizations
Research and Diagnostic Laboratories
Middle East & Africa
Rest of Middle East & Africa