Internet of Things (IoT) Healthcare Market 2021 Seeking Growth from Emerging Study Drivers, and Forecast with Apple Inc., Cisco Systems Inc., GE Healthcare Ltd and More
Services and system & software segments collectively occupydominant share in the global IoT healthcare market and is expected to drive the growth over the forecast period. Patient monitoring application segment is expected to maintain its lead position with $72.7 billion by 2021.
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The IoT healthcare market is anticipated to grow at a significant pace, owing to easy availability of wearable smart devices, increasing need for stringent regulations and decreasing cost of sensor technology. Furthermore, launch of technological advanced devices (smart shirts, smart lenses, smart bands and others) & analytics software, rising incidence rates of chronic diseases, surging demand for cost-effective treatment & disease management, better accessibility of high speed internet and implementation of favorable government regulatory policies, are also expected to fuel the growth of this market.
Improvement in healthcare infrastructure in developing economies, increase in government support, high R&D investments by major players in developing better IoT infrastructure are expected to offer potential growth opportunities to the market. However, factors such as high costs associated with IoT infrastructure development, data privacy and security concerns, lack of awareness in developing economies and limited technical expertize are projected to restrain the market growth.
Services segment contributed to more than half of the market share in the overall IoT healthcare market in 2015. The segment covers architecture services for integration, consulting services for training & teaching and application development services to support & maintenance. Additionally, devices segment is expected to grow at highest growth rate during the forecast period owing to novel technological advancements and increasing popularity of wearable sensor devices.
The North American internet of things (IoT) healthcare market is projected to offer beneficial growth opportunities during the forecast period owing to well established healthcare infrastructure, high patient awareness, increasing government supports and high investment from major IoT players. In North America, the U.S. dominates with maximum shares in IoT healthcare market.
The key companies profiled in the report are Apple Inc., Cisco Systems Inc., GE Healthcare Ltd., Google (Alphabet), International Business Machines Corporation, Medtronic PLC, Microsoft Corporation, Qualcomm Life Inc., Proteus Digital Health, Koninklijke Philips N.V. and St. Jude Medical Inc.
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Key Benefits for Stakeholders:
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
• The study provides an in-depth analysis of the IoThealthcare market with current and future trends to elucidate the imminent investment pockets in the market.
• The report provides a quantitative analysis through 2014-2021, which would enable the stakeholders to capitalize on prevailing market opportunities.
• Extensive analysis of the internet of things in healthcare market, by component, helps in understanding the components of the internet of things that are currently used along with the variants which would gain prominence in future.
• Competitive intelligence, among top players helps in understanding the competitive scenario across geographies.
• SWOT analysis highlights the internal environment of leading companies for effective strategy formulation.
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