Artificial Intelligence
Patient Portal Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)
New York, Aug. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Patient Portal Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06316169/?utm_source=GNW
With the onset of COVID-19, several countries embraced digital healthcare to a notable extent to share data regarding infection status. The Electronic Health Record (EHR) platforms witnessed a dramatic increase in their adoption rate during the pandemic. To mitigate and contain the spread of COVID-19 infection, government and public healthcare officials are adopting electronic case reporting (ECR) platforms for tracking the infection spread status. Many healthcare providers across the world are finding patient portals such as Electronic Health Records (EHR) and Electronic Medical Records (EMR) feasible in their system to keep a track of total tests administered, treatment results, evolving case definitions, and streamline many other processes. For instance, in March 2020, Mount Sinai created an electronic health record data which consists of multiple files all of which were linked together using a masked medical record number and a unique patient encounter key. Thus, the COVID-19 outbreak is more likely to increase the utilization and adoption of patient portals in the healthcare system both now and in the future as well.
The patient portal market has been growing owing to the increasing adoption of the patient-centric approach by healthcare payers and the increasing demand for EHR in the market. For Instance, In February 2021, Northern Inyo Healthcare District collaborated with Cerner Corporation to transform its Electronic Health Record (EHR). The collaboration involved Northern Inyo Healthcare District moving to an updated electronic system that supports physicians, nurses, and clinicians to share data across the district’s multiple offices. Such collaborations will contribute to the rising adoption of EHRs in the United States.
Also, In February 2021, Medway NHS (National Health Services) Foundation Trust has adopted Allscripts Sunrise electronic patient records to boost its digital maturity quickly. The trust signed a deal with Allscripts in December 2020, and the first phase of the core functionality is expected to go live six months after the project begins. With this, clinicians will have better access to a single view of patient information with the launch of clinical papers with in-context links to other IT systems in use at the trust.
The current market is also evolving as the government is undertaking various initiatives for the patient portals to digitalize the healthcare system and standardize regulations, and infrastructure for maintaining health records, which is the reason leading to an increase in the demand for the patient portal. For instance, the Center for Sustainable Development, In March 2020 released a document that mentioned various initiatives by several governments around the world. The document stated that, earlier in 2020, the European government launched Europe Electronic Healthcare Records (EHR), Project Smart4Health, and InteropEHRate project with an aim toward a citizen-centered healthcare ecosystem in the European Union. With this platform, the government is strategizing to empower citizens with record exchange, personal connected health services, and the ability of data donorship to the scientific and research communities. Such increase in the government initiatives is also expected to drive the growth of the market.
Moreover, the rising aging population and growing chronic diseases are putting continuous pressure on the capacity and financial viability of healthcare systems. Additionally, advancements in healthcare technology, genomics, connected devices, big data analytics, and artificial intelligence are generating vast potential for health data and insights, that are helping healthcare providers to make better and faster diagnoses and more informed treatment decisions. Additionally, the market players are focusing on the market development strategies such as collaboration, partnerships, and product launches. For instance, in March 2022 Meditech and Google Health collaborated to bring search simplicity for electronic health records which helps to not only aggregate patient data from different settings but present a comprehensive patient view to clinicians. Thus, owing to all the aforementioned factors the market is experiencing tremendous growth and is expected to have a high market share over the forecast period. However, the concerns regarding data privacy and safety coupled with the high cost of implementation and deployment of these tools are acting as a major restraint for the market growth.
Key Market Trends
Integrated Patient Portal Holds the Largest Share in the Portal Segment expected to hold a major market share in the Patient Portalmarket
Integrated patient portals, also known as connected or tethered portals help for a larger or combined system, such as a hospital management system (HMS) or electronic health record (EHR). An integrated portal features a direct connection to the patient database of a medical facility or organization and is capable of providing a wide variety of functions and services. This type of patient portal system requires more time and effort for design and is therefore associated with greater development costs.
In order to enhance the patient experience and increase hospital efficiency, companies are collaborating with healthcare providers to better serve the large base of residents across the world. Such the demand for an integrated patient portal is expected to drive the growth of the segment. For example, in August 2021 Novo Integrated Sciences launched NovoConnect an online patient portal app that puts the patients first and allows the patient to take control of their healthcare and wellness by having secure digital access to their personal patient charts.
The integrated setup is a very supportive web-based tool for quality improvement and performance with a range of quality and efficiency measures, which is expected to help the market grow during the forecast period.
The below mentioned graph suggest the burden of chronic diseases such as Cancer is anticipated to increase with high growth rates in future which will increase the procurement of integrated patient portals by the provider as well at the patients end to manage such a huge burden of patients, therefore the market is anticipated to hold high market share over the forecast period.
North America was Observed to be the Largest Patient Portal Market
The North American patient portal market is expected to grow owing to wide technological advancements in the region. Countries, such as the United States and Canada, have been successful in implementing IT technologies in their healthcare systems, which as a result, may boost the market growth.
The United States is the largest market for patient portals in the North American region. Owing to the well-equipped healthcare system and the higher adoption of telemedicine, the market for the patient portal is expected to witness significant growth over the forecast period. As per the data published by HealthIT.gov, during the year 2019-2021, around 86% of non-Federal general acute care hospitals had adopted a certified electronic health record (EHR). High adoption of EHR is associated with the covid pandemic which resulted in the maximization of virtual data. Owing to the EHR adoption, the market for the patient portal is witnessing high growth in the United States. The Office of the National Coordinator for Health IT (ONC) finalized federal rulemaking in May 2020 with the goal of enhancing access, exchange, and use of electronic health information. In order to access and manage their health records using a smartphone health app of their choice, consumers must use secure, standards-based application programming interfaces (APIs).
The healthcare IT industry in Canada is versatile and well-equipped. Due to the advanced healthcare system, the adoption of information technology in healthcare is as high as in the United States in the country. In May 2022, the Orléans Health Hub brought together three hospitals and six community-based service providers to enhance care and service coordination in a highly accessible, bilingual system that is reflective of the local region. For a smooth, connected experience for patients, The Hub consolidates a variety of specialized and community healthcare services under one roof. With such collaborative approaches taken by Canadian organizations, there will be an increasing number of people accessing health information online which will propel the growth of the market studied in the country.
In comparison to the United States and Canada, Mexican hospitals have been slow to adopt electronic health record systems because of the lack of affordable systems in the market. However, many hospitals in the country have developed their own software for patient portals or EHR, etc., which is expected to increase the use of health IT tools and ultimately contribute to the growth of the market studied in Mexico. As per the Mexico Health System Review published in Health Systems in Transition Vol. 22 No. 2 2020, information technology (IT) for health is backed mainly by the Mexican Social Security Institute (IMSS) through electronic medical records (EMRs), the private sector through applications, and hospitals and state-level health services through telehealth. Thus, Mexico is focusing more on installing electronic medical records, thereby contributing to the market’s growth.
Thus the above mentioned factors are expected to drive the growth of the market in this region during the forecast period.
Competitive Landscape
In the coming years, few other players are expected to enter the market. The fairly competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. include Allscripts Healthcare Solutions, AtenaHealth Inc, Cerner Corporation, Curemd Healthcare, Eclinical works LLC, Epic corporation Inc, GE Healthcare, Greenway Health LLC, Intelichart, Mckesson Corporation, Nextgen Healthcare Information systems LLC and others.
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Artificial Intelligence
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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