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Internet of things (IoT) in Healthcare Market Worth USD 446.52 Billion at 25.9% CAGR by 2028 Owing to Presence of Large Population in Asia-Pacific

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Pune, India, Oct. 12, 2021 (GLOBE NEWSWIRE) — The global internet of things (IoT) in healthcare market size is expected to experience significant growth by reaching USD 446.52 billion by 2028 while exhibiting an astounding CAGR of 25.9% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Internet of things (IoT) in Healthcare Market Size, Share & COVID-19 Impact Analysis, By Component (Devices, Software, and Services), By Application (Telemedicine, Patient Monitoring, Operations and Workflow Management, Remote Scanning, Sample Management, and Others), By End-User (Laboratory Research, Hospitals, Clinics, and Others), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 71.84 billion in 2020. Factors such as the growing awareness regarding self-health monitoring and the evolving healthcare infrastructure are expected to boost the demand for the product worldwide.

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List of the Companies Operating in the Global Market for Internet of things in Healthcare:

  • Amazon, Inc. (Seattle, Washington, United States)
  • Cisco system Inc. (San Jose, California, United States)
  • General Electricity Company (Boston, Massachusetts, United States)
  • IBM Corporation (Armonk, New York, United States)
  • Intel Corporation (Santa Clara, California, United States)
  • Microsoft Corporation (Redmond, Washington, United States)
  • SAP SE (Walldorf, Germany)
  • koninklijke philips n.v. (Amsterdam, Netherlands)
  • Senseonics Holdings, Inc. (Maryland, United States)
  • SGH Group (Sydney, Australia)
  • TeleTracking Technologies Inc. (Pittsburgh, western Pennsylvania, United States)
  • Wipro Ltd. (Bengaluru, Karnataka, India)

Market Exhibited 24.1% Growth Rate in 2020 amid COVID-19

The surging number of patients for diagnosis and detection of the novel coronavirus overwhelmed the healthcare settings globally. Owing to the sudden influx, the healthcare sector focused on adopting modern means to ensure reduced downtime for screening and testing of patients. Several hospitals and diagnostic centers started adopting IoT-based systems. For instance, according to the World Health Organization (WHO), in 2020, medical staff and patients in Wuhan, China, started adopting Cloud-Mind’s AI-synched smart medical devices consisting of rings and bracelets. This led to the market exhibiting a growth rate of 24.1% in 2020.

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Market Segmentation:

Based on the component, the market is trifurcated into devices, software, and services. On the basis of application, the market is divided into telemedicine, patient monitoring, operations and workflow management, remote scanning, sample management, and others. Moreover, based on the end-user, the market is segmented into laboratory research, hospitals, clinics, and others.

  • On the basis of end-user, the hospitals segment held a global internet of things (IoT) in healthcare market share of about 34.6% in 2020. The segment is expected to dominate during the forecast period owing to the increasing investment by hospitals in the adoption of IoT-based technology.

Lastly, based on region, the market is categorized into Asia-Pacific, North America, Europe, the Middle East and Africa, and Latin America.

What does the Report Include?

The global market for internet of things (IoT) in healthcare report includes a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.

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DRIVING FACTORS

Increasing Focus on Self-Health Monitoring to Promote Growth

The increasing awareness regarding fitness and health is leading to the demand for self-health management techniques. This has surged the demand for several medical wearable devices globally as people can easily access and monitor their health at any given time. Moreover, several manufacturers are focusing on introducing advanced monitoring devices to cater to the growing consumer demand. This is expected to favor the global internet of things (IoT) in healthcare market growth in the forthcoming years.

Report Scope and Segmentation:

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 25.9 %
2028 Value Projection USD 446.52 Billion
Base Year 2020
Market Size in 2020 USD 71.84 Billion
Historical Data for 2017 to 2019
No. of Pages 140
Segments covered By Component, By Application, By End User
Growth Drivers Rising Awareness of Self Health Monitoring and Measurement to Propel Market Growth
Integration of Artificial Intelligence with IoT in Healthcare to Drive Market
The AI-enabled IoT devices help healthcare providers in diagnosing and predicting the ailment in real-time.
Pitfalls & Challenges Limitation in Protecting Privacy to Restrict Market Growth

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REGIONAL INSIGHTS

Asia-Pacific- The region is expected to remain at the forefront and hold the highest position in the market during the forecast period. This is due to the presence of a large population and the rising investment in digital technology in the healthcare sector in the region. Asia-Pacific stood at USD 28.46 billion in 2020.

Latin America – The region is expected to experience considerable growth backed by the increasing focus on developing healthcare settings. For instance, February 2020, several Brazilian Ministries such as innovation, healthcare, and technology collaborated to integrate the internet of things (IoT) in healthcare schemes for the betterment of patients. 

COMPETITIVE LANDSCAPE:

Product Innovation by Key Players to Strengthen Their Market Positions

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The market is segmented into several major companies striving to maintain their dominance by introducing advanced IoT in healthcare solutions to cater to the growing demand from patients worldwide. Additionally, the adoption of strategies such as merger and acquisition, collaboration, and partnership by other key players is expected to boost market growth during the forecast period.

Industry Development:

  • September 2020 – Intel Corporation announced the launch of enhanced IoT capabilities in its 11th Gen Core developed for several industrial applications. According to the company, the solution offers AI-based diagnostics and high-resolution displays by adopting advanced medical imaging devices.

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Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
  • Global Internet of Things (IoT) in Healthcare Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Component (Value)
        • Devices
        • Software
          • Remote Device Management
          • Data Analytics
          • Compliance and Security
          • Asset Performance Management
          • Others (Data Storage, Electronic Health Record, etc.)
        • Services
      • By Application (Value)
        • Telemedicine
        • Patient Monitoring
        • Operations and Workflow Management
        • Remote Scanning
        • Sample Management
        • Others (Predictive Device Maintenance, Medication Management, etc.)
      • By End-User (Value)
        • Laboratory Research
        • Hospitals
        • Clinics
        • Others (Clinical Tests, Pathology, etc.)
      • By Region (Value)
        • North America
        • Latin America
        • Europe
        • Middle East & Africa
        • Asia Pacific

TOC Continued.

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About Us:

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Artificial Intelligence

Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
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Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
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Artificial Intelligence

LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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lora-and-lorawan-iot-market-worth-$32.7-billion-by-2029-exclusive-report-by-marketsandmarkets™

CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144298529
Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Get access to the latest updates on LoRa and LoRaWAN IoT Companies and LoRa and LoRaWAN IoT Industry
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup

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HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.

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