IoT Healthcare Market Worth 158.07 Billion USD by 2022
Thursday, April 20, 2017
PUNE, India, April 20, 2017 /PRNewswire/ --
According to a new market research report "IoT Healthcare Market by Component (Medical
Device, Systems & Software, Service, Connectivity Technology), Application (Telemedicine,
Work Flow Management, Connected Imaging, Medication Management), End User, and Region -
Global Forecast to 2022", published by MarketsandMarkets(TM), the market is projected to
grow from USD 41.22 Billion in 2017 to USD 158.07 Billion by 2022, at a CAGR of 30.8% from
2017 to 2022.
Browse 61 market data Tables and 59 Figures spread through 155 Pages and in-depth TOC
on "IoT Healthcare Market"
Early buyers will receive 10% customization on this report.
The market is primarily driven by the evolution of artificial intelligence technology,
rise in investments for the implementation of IoT healthcare solutions and the increasing
penetration of connected devices in healthcare. Moreover, the adoption of IoT healthcare
systems & software is increasing due to the need to reduce the cost of healthcare,
Based on component, the systems & software segment is expected to grow at the highest
CAGR during the forecast period
Based on component, the IoT Healthcare Market has been segmented into medical devices,
systems & software, service, and technology. The systems & software segment is expected to
grow at the highest CAGR from 2017 to 2022. IoT healthcare systems and software include
remote device management, network bandwidth management, data analytics, applications
security, and network security solutions. Systems & software provide solutions to the IoT
healthcare market which create a high degree of data security and autonomy. This factor is
driving the systems & software segment in the IoT Healthcare Market.
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Based on application, telemedicine accounted for the largest share of the IoT
Healthcare Market in 2017
Based on application, the telemedicine segment is expected to account for the largest
share of the IoT Healthcare Market in 2017. Telemedicine enables the exchange and transfer
of medical information from one site to another via telecommunication infrastructure to
improve, sustain, or assist in providing information about the health status of a patient.
The growth of this segment is attributed to the increased efficiency of processes and
convenience for patients, while reducing the number and length of hospital stays.
The Asia-Pacific IoT Healthcare Market is projected to grow at the highest CAGR during
the forecast period
The IoT Healthcare Market has been studied for North America, Europe, Asia-Pacific,
the Middle East & Africa, and Latin America. The high growth rate in the Asia-Pacific IoT
healthcare market can be attributed to the increase in number of hospitals and surgical
centers in this region. Rise in the demand for cloud-based solutions from the
manufacturing and other verticals is driving the IoT healthcare market in this region.
Countries such as India, Indonesia, and China are expected to witness high growth rates in
the IoT Healthcare Market.
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Major players in this market include Medtronic Plc (U.S.), Royal Philips (The
Netherlands), Cisco Systems Inc. (U.S.), IBM Corporation (U.S.), GE Healthcare (U.S.),
Microsoft Corporation (U.S.), SAP SE (Germany), Qualcomm Life, Inc. (U.S.), Honeywell
Life Care Solutions (U.S.), and Stanley Healthcare (U.S.), among others.
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