Global Internet of Things Markets 2013-2018 & 2018-2023 - Key Trends, Drivers, Restraints & Opportunities
DUBLIN, Oct 31, 2018 /PRNewswire/ --
The "Internet of Things - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global internet of things (IoT) healthcare market size is expected to reach $267.6 billion by 2023.
The market is mainly driven by the growing need for remote patient monitoring services, growing demand for advanced healthcare information systems, increasing prevalence of chronic and lifestyle associated diseases, growing demand for mHealth technologies, and increasing support from government organizations.
Insights into market segments
On the basis of component, the IoT healthcare market has been categorized into medical devices, systems and software, and services. Among all types, the sales of medical devices were the largest in this market, accounting for 44.6% share in 2017.
Based on technology, the IoT healthcare market is categorized into Wi-Fi, BLE, NFC, ZigBee, cellular, and satellite. Among these, the fastest growth during the forecast period is expected from Wi-Fi technology, with 32.1% CAGR. This is attributed to the increasing adoption of Wi-Fi gadgets and tools in hospitals for sending the medical data to-and-from the cloud.
IoT in healthcare finds application in telemedicine, clinical operations, medication management, connected imaging, inpatient monitoring, and others. During the forecast period, the market is expected to witness the highest growth from the telemedicine application category, with a CAGR of 32.1%.
The end users for IoT healthcare market include hospitals, surgical centers, and clinics; clinical research organizations; research and diagnostic laboratories; and others. Of these, the market is expected to witness the fastest growth in the hospitals, surgical centers, and clinics category, with a CAGR of 31.1% during the forecast period.
IoT healthcare market projected to witness the fastest growth in APAC
During the forecast period, the IoT healthcare market is expected to witness the fastest growth in Asia-Pacific (APAC), at a CAGR of 34.4%. This growth in the regional-level market is mainly due to the growing geriatric population and surge in the occurrence of various chronic diseases such as diabetes, chronic obstructive pulmonary disease, asthma, and others. Furthermore, North America held the largest share in the global market, contributing over 44.3% revenue in 2017, owing to improved healthcare infrastructure and increased healthcare spending.
Key market players entering partnership agreements to increase their market share
Key players in the IoT healthcare industry are seeking partnerships and acquisitions to provide more effective solutions. For instance, in February 2018, Qualcomm Life Inc., a subsidiary of Qualcomm Incorporated, announced an exclusive strategic licensing agreement with AlertWatch Inc., an Ann Arbor based company, for the development of intelligent care software systems to assist the real-time care of patients in the operating room. The agreement provides Qualcomm Life Inc. with exclusive rights to market and sell AlertWatch, used by clinicians for secondary monitoring of patients in operating rooms.
Besides, in February 2018, Qualcomm Life Inc. announced a strategic reseller agreement with PeriGen Inc. The agreement with PeriGen Inc. would allow the former to license and sell PeriWatch Vigilance, an early warning platform for obstetrics that automatically identifies patients whose condition is worsening, facilitating more timely interventions.
Some of the other key players operating in the IoT healthcare industry are PhysIQ Inc., Adheretech, Proteus Digital Health Inc., Koninklijke Philips N.V., Cisco Systems Inc., General Electric Company, Honeywell International Inc., SAP SE, Stanley Black & Decker Inc., International Business Machines (IBM) Corporation, Medtronic plc, and Microsoft Corporation.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
4.1.1.1 Medical devices
4.1.1.1.1 Wearable external
4.1.1.1.2 Implanted
4.1.1.1.3 Stationary
4.1.1.2 Systems and software
4.1.1.2.1 Remote device management
4.1.1.2.2 Network bandwidth management
4.1.1.2.3 Data analytics
4.1.1.2.4 Application security
4.1.1.2.5 Network security
4.1.1.3 Services
4.1.1.3.1 System integration
4.1.1.3.2 Professional
4.1.1.3.3 Support and maintenance
4.1.2 By Technology
4.1.2.1 Wi-Fi
4.1.2.2 Bluetooth low energy (BLE)
4.1.2.3 Near field communication (NFC)
4.1.2.4 ZigBee
4.1.2.5 Cellular
4.1.2.6 Satellite
4.1.3 By Application
4.1.3.1 Telemedicine
4.1.3.1.1 Remote patient monitoring telemedicine
4.1.3.1.2 Store-and-forward telemedicine
4.1.3.1.3 Interactive telemedicine
4.1.3.2 Clinical operations and workflow management
4.1.3.3 Connected imaging
4.1.3.4 Inpatient monitoring
4.1.3.5 Medication management
4.1.3.6 Others
4.1.4 By End User
4.1.4.1 Hospitals, surgical centers and clinics
4.1.4.2 Contract research organizations (CROs)
4.1.4.3 Research and diagnostic laboratories
4.1.4.4 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Increasing collaborations and partnerships
4.2.1.2 Surge in the number of product launches
4.2.2 Drivers
4.2.2.1 Increasing penetration of connected devices in healthcare
4.2.2.2 Rise in investment for IoT healthcare solutions
4.2.2.3 Growing geriatric population
4.2.2.4 Increasing prevalence of chronic and lifestyle diseases
4.2.2.5 Growing demand for advanced healthcare information systems
4.2.2.6 Advanced applications of smart phone-based mHealth technologies
4.2.2.7 Increasing demand for affordable and effective treatments
4.2.2.8 Increasing popularity of IoT in personalized healthcare
4.2.2.9 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Data privacy and security issues
4.2.3.2 Insufficient memory, computational and energy limitations
4.2.3.3 Lack of healthcare infrastructure in emerging markets
4.2.3.4 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Increasing adoption of cloud technology in healthcare
4.2.4.2 Increasing demand for patient centric healthcare models
4.2.4.3 Growth opportunities in the emerging economies
4.3 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.1.1 IoT in Medical Devices Market by Type
5.1.2 IoT Healthcare Systems and Software Market by Type
5.1.3 IoT Healthcare Services Market by Type
5.2 By Technology
5.3 By Application
5.3.1 IoT Healthcare Market for Telemedicine by Type
5.4 By End User
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Global Strategic Developments of Key Players
11.1.1 Acquisitions
11.1.2 Product Launches
11.1.3 Partnerships
Chapter 12. Company Profiles
- PhysIQ Inc.
- Stanley Black & Decker Inc.
- Koninklijke Philips N.V.
- Honeywell International Inc.
- General Electric Company
- Cerner Corporation
- Medtronic plc
- Qualcomm Incorporated
- Proteus Digital Health Inc.
- AdhereTech
- Microsoft Corporation
- Cisco Systems Inc.
- International Business Machines Corporation
- SAP SE
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