Fast Facts: Value of IoT in Healthcare To Quadruple

In the fast-paced IT industry, new statistics and data are released daily. Each Friday, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

The intersection of IoT and healthcare is quickly becoming a busy one, as the industry and IT verticals begin to converge and empower an already tech-heavy market. According to a new report by Markets and Markets, the IoT in Healthcare market value is expected to nearly quadruple between 2017 and 2022, from $41.22 billion to $158.07 billion, with a CAGR of 30.8-percent.

So, what’s driving the growth?

According to the report, the market is driven by the evolution of artificial intelligence technology, rise in investments for the implementation of IoT healthcare solutions and the increasing penetration of connected devices in healthcare.

The IoT healthcare market has been segmented into medical devices, systems and software, service, and technology. Geographically, the demand for cloud-based solutions from the manufacturing and other verticals is driving the market in the Asia-Pacific region, the report said.

Enterprise Mobility Exchange will be hosting a Mobility In Healthcare event in San Antonio from June 12 to 13, featuring dozens of c-level executives from the pharmaceutical, health insurance, and hospital network verticals within the industry. Find out more about the event and how to get involved here.

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