Artificial Intelligence
IoT In Healthcare Market to Hit Sales of $332.52 Billion by 2028 | IoT Market to Surpass Valuation of $2412.49 Billion
Westford, USA, Nov. 10, 2022 (GLOBE NEWSWIRE) — By 2025, the number of internet-connected devices is expected to reach 27 billion. of these, 2.3 billion will be used in healthcare, according to a report from SkyQuest Technology. IoT in healthcare market is one of the most promising and rapidly growing areas in healthcare technology. Hospitals and other care providers are starting to see the potential of IoT to transform the way they provide care, improve patient outcomes, and lower costs. There are a number of factors driving the demand for IoT in healthcare. One is the increasing prevalence of chronic conditions, which require ongoing management and monitoring. IoT can play a role in helping patients manage their conditions by providing real-time data on their health status and providing alerts when something is wrong.
In addition to this, rising cost of healthcare to add fuel to the growth of the IoT in healthcare market. With costs continuing to rise, hospitals and other care providers are looking for ways to improve efficiency and lower costs. IoT can help by reducing the need for manual tasks, such as charting and data entry, and by automating tasks that can be done more efficiently by machines.
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IoT can play a transformative role in healthcare, from improving patient care and reducing costs to enabling new business models and revenue streams. For example, hospitals can use IoT sensors to track patients’ vital signs and send alerts to caregivers if something is wrong. This can help prevent potential complications and save lives in the global IoT in healthcare market. In addition, IoT can be used to monitor health at a population level and collect data that can be used for research purposes. For instance, data from fitness trackers and other wearable devices can be anonymized and aggregated to identify trends in health and wellness. This information can then be used by healthcare organizations to develop targeted interventions and improve population health.
IoT Security to Remain Key Challenge in IoT in Healthcare Market
Despite the potential benefits of the Internet of Things (IoT) in healthcare market, security remains a key challenge. A recent study by the SkyQuest found that 27% of healthcare organizations have experienced an IoT-related data breach, and that IoT devices are a leading cause of data breaches in healthcare. One of the biggest challenges with IoT security is the sheer number of devices and sensors that are being used. Healthcare organizations are collecting more data than ever before, and this data is often sensitive in nature. With so many devices and so much data, it can be difficult to keep track of everything and ensure that all devices are properly secured.
In addition, many IoT devices are not designed with security in mind across global IoT in healthcare market. They may have weak passwords, outdated software, or no encryption at all. This makes it easy for hackers to gain access to these devices and the data they contain. Finally, healthcare organizations must also contend with the fact that their patients’ lives could be at risk if an IoT device is compromised. This is particularly true for medical devices such as pacemakers or insulin pumps, which could be remotely controlled by a hacker if they gain access to the device. As such, it is crucial for healthcare organizations to ensure that their IoT devices are properly secured to protect their patients’ safety.
In order to mitigate these risks, healthcare organizations need to put in place robust security measures for their IoT devices. This includes ensuring that devices are properly configured and secured, and that staff are aware of the risks associated with their use. Additionally, organizations should consider investing in secure communication protocols and data encryption technologies.
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Telemedicine is Offering Prominent Growth Opportunity for IoT in Healthcare Market
IoT in healthcare market is growing at a rapid pace and is expected to continue doing so in the coming years. Telemedicine is one of the most promising applications of IoT in healthcare, as it has the potential to greatly improve patient care and reduce costs.
There are a number of different telemedicine applications that are being developed and deployed today. These include remote patient monitoring, tele-diagnostics, teleradiology, and more. Remote patient monitoring is perhaps the most widely used telemedicine application at present in the IoT in healthcare market, as it allows patients to be monitored remotely using various sensors and devices. This helps to improve patient care by allowing doctors to keep track of their patients’ health status and intervene if necessary.
Tele-diagnostics is another important application of telemedicine that is growing in popularity in the IoT in healthcare market. This involves using diagnostic tools and techniques remotely in order to make diagnosis easier and more accurate. Teleradiology is another key application, which uses radiologic imaging techniques remotely in order to diagnose patients.
The deployment of telemedicine applications is often limited by infrastructure limitations, but this is changing as more and more hospitals and clinics adopt IoT technologies. In addition, government initiatives such as the FDA’s recently announced pilot program for medical devices connected to the internet are helping to drive adoption of these technologies.
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Major Players in Global IoT in Healthcare Market
- Medtronic (US)
- GE Healthcare (US)
- Koninklijke Philips N.V. (Netherlands)
- Honeywell Life Care Solutions (US)
- BIOTRONIK (Germany)
- Boston Scientific Corporation (US)
- Johnson & Johnson Services Inc. (US)
- Siemens AG (Germany)
- Omron Healthcare Inc. (Japan)
- BioTelemetry Inc. (US)
- AliveCor Inc. (US)
Related Reports in SkyQuest’s Library:
Global Sleep Apnea Devices Market
Global In-Vitro Diagnostics Market
Global Lymphedema Treatment Market
PART 2:
The epidemic has compelled governments, corporations, and individuals to rethink their goals, perspectives on socioeconomic issues, and methods of operation. While the globe battled the new coronavirus epidemic in 2020, healthcare experts worked tirelessly. The goal was to provide adequate services to protect residents from being sick and to heal those who had become ill. In such a case, technological advancements have consistently resulted in disparities between healthcare systems. Countries were amassing resources and creating cutting-edge methods to mitigate the impact of COVID-19 and monitor populations at risk. During the crisis, the Internet of Things (IoT) market and other modern technologies such as cloud computing and artificial intelligence (AI) proved extremely useful.
One of the most critical parts of internet technology is data management. Internet-connected gadgets generate massive amounts of data and information that must be processed. The internet of things standard security gateway, on the other hand, poses a slew of security and privacy concerns. The blockchain-based architecture enables basic and decentralised security solutions for connected devices.
The major reasons responsible for the effective operation of global Internet of Things (Iot) market are technological developments and operational efficiency. Various nations in Asia Pacific, the Middle East and Africa, and Latin America face a lack of essential technologies, such as telecom and networking infrastructure, and are unable to quickly execute smart projects owing to a variety of problems, including a low budget and a low literacy rate. Several nations have yet to mature or even launch 4G technology, whilst others such as China have conducted testing on 5G technology. Though governments and businesses in such nations are aware of the benefits of Internet of Things (IoT) technology and the industry’s high ROI, the initial budget limitation plays a significant role in slowing the development of the Internet of Things (IoT) market share.
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Read market research report, ” Global Internet of Things (IoT) market analysis is segmented By Software Solution (Data Management, Security Solution, Network Bandwidth Management, Remote Monitoring System, and Real-Time Streaming Analytics), By Platform (Network Management, Application Management, and Device Management), By Service (Consulting service, Support and maintenance, Deployment and integration, Managed service, and Professional service), By Application (Smart Manufacturing, Smart Energy & Utilities, Smart Mobility & Transportation, Building & Home Automation, Smart retail, Connected Logistics, and Others) & By Region – Forecast and Analysis 2021-2027” by SkyQuest
With rising population and urbanisation, several nations across the world are launching smart city initiatives and using smart city technologies to better manage resources. Connected devices, such as sensors, smart lighting, and smart metres, among others, aid in the enhancement of the functionality and efficiency of infrastructure and related services.
IoT software solutions provide business applications that improve operational efficiencies, enhance the customer experience, and provide new income streams. Internet-connected Internet of Things (IoT) devices easily share data with other devices/applications/things to offer trustworthy data decisions to the end-user. Software solutions provide a wide range of technologies that assist firms in meeting their goals and maintaining a critical competitive advantage. Software solutions are gaining popularity for existing infrastructure systems to automate a variety of operations in critical infrastructure, manufacturing, and other industries.
The Americas account for the vast bulk of the device-enablement value pool. Because of the centrality of device enablement to the Internet of Things (IoT) market share and its worldwide Internet of Things (IoT) market revenue growth, both technology and business prospects will be nearly geographically agnostic and increase at similar rates. And, while enterprise clients will continue to dominate, device-enablement solutions will see rapid adoption among small and mid-sized businesses. The expanding market for IoT technology shows some of the ways in which maturing technologies have begun to deliver on the IoT’s promises. PE funds should analyse potential to exploit IoT in their portfolio firms and seek for developing investment opportunities in the IoT industry as well as in sectors that can profit significantly from these technologies.
Asia Pacific is home to a number of rising and developed economies, including Australia, India, China, Japan, and Singapore. Because of the rapid adoption of new technology, this area has become a valuable market for the IT sector. As a result, the Asia Pacific Internet of Things (IoT) market is predicted to develop at the fastest rate. While Japan has announced the completion of the majority of its “smart city” projects, the rest of the area is still in the planning stages. China is the region’s largest market for developing IoT application in smart cities. As of January 2019, more than 5,000 smart cities initiatives in India were under various phases of development, with investments totalling more than INR 2 trillion.
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Furthermore, the region’s governments are taking strong steps to improve their IT infrastructures, allowing business users to embrace cutting-edge technology. Some countries are more technologically advanced than others, yet some are still hesitant to accept new technology. The lack of knowledge and competence among end-users, as well as a lack of resources and infrastructure in emerging nations, are likely to limit the growth of the Asia Pacific IoT market share analysis. Some extensive government programmes in the region attempt to improve service efficiency. The area is home to the bulk of developing members who are undergoing fast urbanisation as the world’s most dynamic region for urbanisation. While this trend creates great commercial potential, it also poses significant hurdles to long-term growth.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
List of internets of things (IOT) Key Players/Suppliers
- Amazon Web Services, Inc. (U.S.)
- Intel Corporation (U.S.)
- Microsoft Corporation (U.S.)
- PTC Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Cisco Systems, Inc. (U.S.)
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- SAP SE (Germany)
- Siemens AG (Germany)
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Related Reports in SkyQuest’s Library:
Global Fraud Detection and Prevention Market
Green Technology and Sustainability Market
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
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.
Visit ViCA.Chat to experience the future of compliance support.
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™
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
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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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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
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.
Optimized Visuals Tailored for Football Dynamics
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