Artificial Intelligence
IoT in Healthcare Market Size Expected to Reach USD 446.52 Billion by 2028, Exhibiting a CAGR of 25.9%
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Pune, India, March 07, 2023 (GLOBE NEWSWIRE) — The global IoT in healthcare market size was USD 71.84 billion in 2020 and is projected to grow from USD 89.07 billion in 2021 to USD 446.52 billion by 2028, exhibiting a CAGR of 25.9% during the 2021-2028 period. Increasing awareness of self-health management drives the market growth.
Fortune Business Insights, provide this information in its report titled, “IoT in Healthcare Market Forecast, 2023-2028.”
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Key Industry Development:
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.
SAP SE announced the launch of a new healthcare platform to provide patient-centric solutions. The company states that through this platform, hospitals, healthcare providers, and researchers will be able to reduce operational and maintenance costs and as well as offer connected healthcare services.
Report Scope & 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 |
| IoT in Healthcare Market Size in 2020 | USD 71.84 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 140 |
| Segments covered | Component, Application, End User and Geography |
Key Takeaways:
- IoT in Healthcare Market Size in Asia Pacific was USD 28.46 billion in 2020
- Major driving factors include increasing demand for remote monitoring and technological advancements
- The services segment has the largest share in the global market.
- Global demand is driven by the need to improve healthcare outcomes and patient satisfaction.
- The patient monitoring segment will drive the market in the forecast period, 2023-2028
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Drivers and Restraints:
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.
Increasing Number of Company Mergers Will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. The high investment in adoption of technologically sound methods in several healthcare applications by major companies will create several opportunities for market growth. In March 2018, Koninklijke Philips N.V. announced that it has collaborated with Samsung Electronics. Through this collaboration, Philips will look to connect its digital platform with Samsung’s ARTIK Smart IoT platform. The companies will boost their research and development activities associated with integration of IoT in healthcare services. Koninklijke’s collaboration with Samsung Electronics will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years.
Segments:
Based on the component, the market is trifurcated into devices, software, and services. IoT devices are increasingly being used in healthcare as they offer a number of potential benefits. For example, IoT devices can help to improve patient care by providing real-time data that can be used to make decisions about treatment. IoT devices can also help to improve efficiency in healthcare by automating tasks and reducing the need for manual input. Furthermore, IoT devices can help improve healthcare data security by tracking and monitoring data.
On the basis of application, the market is divided into telemedicine, patient monitoring, operations and workflow management, remote scanning, sample management, and others. There’s no doubt that the healthcare industry is in the midst of a major transformation. And one of the driving forces behind this change is the Internet of Things (IoT). IoT applications are already having a major impact on healthcare, improving patient care and making the delivery of healthcare services more efficient.
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.
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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
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.
Leading Global Players for IoT in Healthcare Market are:
- Amazon, Inc.
- Cisco system Inc.
- General Electricity Company
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- SAP SE
- koninklijke philips n.v.
- Senseonics Holdings, Inc.
- SGH Group
- TeleTracking Technologies Inc.
- Wipro Ltd.
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Major Table of Contents:
- Global Internet of Things (IoT) in Healthcare Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- 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
- By Component (Value)
- North America 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 Component (Value)
- Global Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
TOC Continued…!
FAQs
How big is the IoT in healthcare market?
IoT in healthcare market size was USD 71.84 billion in 2020. It is expected to reach USD 446.52 billion by 2028.
How fast is the IoT in healthcare market growing?
The IoT in healthcare market will exhibit a CAGR of 25.9% during the forecast period, 2021-2028
Related Reports:
Internet of Things Market Size, Share, Revenue Forecast and Opportunities
Artificial Intelligence Market Overview, Industry Share and Forecast
5G Infrastructure Market Size, Share, Opportunities & Analysis
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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