Healthcare IOT Security Market Top 10 Emerging Key Players Growth Insights to reach USD 15.82 Bn, grow at a rate of 40% till 2021

Global Healthcare IOT Security Market Overview

The internet of things (IoT) in the healthcare sector has availed the storage and exchange of data with the help of the technologically advanced devices. This has reduced the errors caused due to manual interference. The cloud storage benefit has increased the concern regarding the security of the electronic health records. Market Research Future (MRFR) has recently published a report asserting the global healthcare IoT security market is expanding at a rapid pace. The current value of the global healthcare IoT security market is USD 4.8 Bn and will reach USD 15.82 Bn at an impressive CAGR of 22% during the forecast period of 2013-2022.

The Global healthcare IOT security Market is estimated at USD 4.7 billion in 2015 and expected to grow at a rate of 40% during 2016-2021.

The growth factors responsible for this explosive growth are cross transferability of the IoT security to a variety of sectors, huge savings due to increasing automation thus causing high adoption among end users, greater integration of devices in the internet ecology, development of smart devices requiring increasing security and rise in R&D expenditure due to increasing awareness about the technology potential and prospects.

Key Players for Global Healthcare IOT Security Market

IBM Corporation, Cisco Systems Inc., Intel Corporation, Oracle Corporation, Sophos Group Plc., Symantec Corporation, Trend Micro Inc., and others

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Healthcare IoT Security Market: Competitive Analysis

The increasing investment in research and development by the players is triggering competition in the global healthcare IoT security market. In February 2018, Intel Corporation launched a security issue update that is compatible to various platforms which are being made available through various OEM firmware updates. This update protects the users against the security exploits disclosed by Google Project Zero.

The strategic mergers and acquisitions among the players of the global healthcare IoT security market are leading to the expansion of this market.

The prominent players of the global healthcare IoT security market are IBM Corporation, Cisco Systems Inc., Intel Corporation, Oracle Corporation, Sophos Group Plc., Symantec Corporation, Trend Micro Inc., and others.

Healthcare IoT Security Market Drivers and Restraints:

The increasing rate of cybercrime in the healthcare sector is acting as a major driving force for the expansion of the global healthcare IoT market. The vulnerability of the data in cloud storage of the healthcare sector is inducing demand for highly efficient and reliable security solutions in this sector. The rapidly increasing identity theft and insurance and prescription frauds in the healthcare sector have created an emergence of a strong healthcare IoT security solution, which is fueling the expansion of the healthcare IoT security market. The increasing adoption of automation and growing awareness regarding the security threats is inclining the end-users towards the incorporation of efficient security solutions in the healthcare sector.

The rise in research and development expenditure by the service providers, increasing integration of devices in internet ecology, concerns about the potentials of hacking IoT devices and increase in demand for highly effective security solutions is fueling the growth of the global healthcare IoT security market. However, lack of trained professionals, limited bandwidth and connectivity issues and lack of legal framework are likely to impact the expansion of the global healthcare IoT security market, negatively.

Healthcare IOT Security Market Regional Analysis

On the basis of regions, the global healthcare IoT security market has been segmented into North America, Europe, Asia-Pacific and the Middle East and Africa. Among these regions, North America accounts for the largest share in the global healthcare IoT security market due to the well-developed healthcare infrastructure and rapid adoption of healthcare IoT in this region. However, the Asia-Pacific region is anticipated to project the fastest growth of the healthcare IoT security market during the forecast period. The increasing data privacy and security concerns among the healthcare organizations and patients are driving the healthcare IoT security market in the rest of the world.

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Healthcare IOT Security Market Segments

The global healthcare IoT security market has been segmented on the basis of components, applications, and end-users. On the basis of components, the healthcare IoT market is segmented into hardware, software, network and others. On the basis of applications, the market is segmented into monitoring and telemedicine, clinical operation and imaging, and workflow optimization. Based on end-users, the healthcare IoT market is segmented into healthcare providers, patients, research laboratories and government.

Some Brief Table of Contents of Report

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restrains

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porters Five Forces Analysis

5.1.1 Bargaining Power Of Suppliers

TOC Continued…

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Key Findings

Increasing ageing population, surging healthcare expenses and an increase in the occurrence of chronic diseases is driving healthcare stakeholders to follow remote health management and patient monitoring seriously.
IOT Security solutions will continue to hold maximum market value of $25.99 Billion in 2022 because of increasing connectivity of healthcare IOT devices with the caregivers globally; new access points get created for hackers to conduct cybercrimes. Therefore, implementation of security solutions becomes essential

North America currently is the leading region in the IOT Security implementation in the healthcare sector with revenue of $2.2 billion in 2015 because of increased usage of smart IOT devices for health management
APAC is expected to grow at a highest CAGR than other regions because of the health management of the increasing ageing population, IOT adoption will increase and therefore security becomes crucial

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This release was published on openPR.