Internet of Things is a network of everyday objects embedded with sensors, actuators, and connectivity which enables them to send and receive data. IoT technology has gained importance with wide scope of applications in various fields such as utilities, education, etc. Adoption of this advanced technology in healthcare sector is one of the fastest among other end-use industries.
Growing geriatric population, clubbed with rising need for systematic management in care centers is the key factor expected to drive growth of the global market. In addition, growing awareness about technologically advanced disease management tools, for example, telemedicine & remote patient-monitoring devices used for good patients’ experience is expected to further fuel growth of the target market over the next ten years. Continuous advancement of IoT technology such as Health Management Information Systems (HMIS) is further expected to expand scope of connected technologies in healthcare industry.
Growing demand of various IoT-based devices including fitness bands and smartwatches are indicating high penetration of connectivity technologies in healthcare sector. Moreover, implementation of Big Data, robotic surgeries and Nano-bots are expected to increase demand for IoT in healthcare to a significant extent.
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Currently, the Internet of Things (IoT) in Healthcare market in North America is estimated to account for major revenue share in the global market, owing to early adoption of IoT technology by end-use industries and presence of major players in countries in this region. Asia Pacific market is projected to register fastest growth in terms of revenue, owing to increasing number of surgical centers and hospitals, and rising demand for cloud-based solutions from various industrial verticals including healthcare industry.
Segmentation by Component:
-Wearable External Devices
-Implanted Medical Devices
-Stationary medical devices
-System and software
-Remote Device Management
-Network Bandwidth Management
-System Integration Services
-Consulting, Training, and Education
-Support and Maintenance Services
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