Healthcare IoT Security Market Size, Status and Business Growth 2022 to 2030
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Healthcare
IoT Security Market Overview
As per a detailed analysis by Market
Research Future (MRFR), the global healthcare IoT security market is predicted
to garner a stellar CAGR of 18.80% during the forecast period (2022-2030). IoT
in healthcare is likely to revolutionize the industry and enhance patient care
as new technologies impact crucial health services. Internet of Things (IoT)
can be defined as the inter-networking of infrastructure and smart devices
comprising buildings embedded with software, electronics, sensors, actuators,
and network connectivity which assists these objects to collect and exchange
data with minimum human interference. Healthcare IoT Security Market is expected to
reach USD 1.12 billion by 2030 at 18.80% CAGR during the forecast period
2022-2030
IoT is extensively being adopted by
top healthcare organizations to improve the operational efficiency and patient
health management of the organizations. With the use of IoT, reliability, cost
efficiency, and better health management of the patients can be achieved. The
utilization of wearables and mHealth is increasing at a rapid pace. IoT
security will play a major role in the protection of big data communicated and
collected from several smart devices to the patients and healthcare providers.
Such factors are considered to promote the growth of Healthcare IoT
Security Market. The market’s course is chiefly directed by the surging data
privacy and security concerns among the consumers. With the rising number of
healthcare IoT security services due to the extensive proliferation of
cybercrimes in the healthcare sector, the market is considered to flourish.
Individuals are also using several types of networked devices to gather
knowledge regarding their daily regime and health. Home monitoring for the
geriatric population catering to medical adherence and medical emergencies has
become easy with the help of smart pills mHealth applications. These factors
are estimated to favor the market growth in the coming years.
On the contrary, along with the
rewards of IoT, concerns associated with privacy, and security of the patient
healthcare data are predicted to curb the growth of the market. Pacemakers, mobile
and wearable devices, insulin pumps, and other systems in the IoT create access
for the hackers. Such factors are likely to restrict the growth of the market
in the coming years.
Market Segmentation
The healthcare IoT security market is
segmented on the basis of devices, solutions, and services.
By mode of devices, the healthcare IoT
security market is segmented into IoT stationary medical devices, real-time
health monitoring devices, IoT smart devices, and IoT ingestible devices.
Based on solutions, the market is
segmented into end-point security, network security, application security,
content security, and cloud security.
The services segment comprises risk
assessment services, consulting services, managed security services, design
& integration services, and others.
Regional
Analysis
Geographically, the healthcare IoT
security market spans across America, Asia Pacific, Europe, and
Rest-of-the-World (RoW).
Considering the global scenario, the
Americas are predicted to command the largest share in the global market. In
this region, North America is predicted to acquire the largest share due to the
augmenting adoption of healthcare IT solutions, along with the high
availability of sophisticated infrastructure in the region. The presence of
developed nations like Canada and the U.S. is likely to boost the growth of the
regional market. These economies have highly invested in R&D activities,
which influences the development of innovative technologies.
The Asia Pacific region is estimated
to exhibit the fastest rate during the assessment period. The growth cam is
ascribed to the increased investments by the medical devices and pharmaceutical
companies. The surging adoption of advanced technologies has further
contributed to the growth of the regional market. Due to the health management
of the surging geriatric population, the adoption of IoT has increased, where
security becomes a primary factor.
Competitive
Dashboard
The prominent players dominating the
global healthcare
IoT security market Players comprises IBM Corporation (U.S.), Inside
Secure SA (France), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.),
Sophos Ltd. (U.K.), Oracle Corporation (U.S.), and others.
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