Global IoT Healthcare Market to Grow at a CAGR of 16.8% by 2026

The global IoT healthcare market is anticipated to grow at a compound annual growth rate (CAGR) of 16.8% during the forecast period, driven by factors such as cost reduction, productivity, and efficiency. The market is expected to be driven by the increasing adoption of health and fitness due to COVID-19, as well as the rise of usage of connected technology devices to manage operational and clinical tasks. The market is segmented based on components, applications, and end-users, with Asia-Pacific expected to be one of the fastest-growing regions.

Key Takeaways:

The global IoT healthcare market is anticipated to reach $61.8 billion by 2026, up from $22.3 billion in 2020.
The market is expected to grow at a CAGR of 16.8% during the forecast period, driven by factors such as cost reduction, productivity, and efficiency.
The market is segmented based on components, applications, and end-users, with hardware accounting for the largest share of the market.
Patient monitoring is expected to be the largest application segment, accounting for over 40% of the market share.
Asia-Pacific is expected to be the fastest-growing region, driven by countries such as China, Japan, and India.
Key companies operating in the market include Allscripts Healthcare, LLC, Armis Inc., Bosch Healthcare Solutions GmbH, Cerner Corp., and Cisco Systems Inc.

Statistics:

The global IoT healthcare market is expected to reach $61.8 billion by 2026, up from $22.3 billion in 2020.
The market is expected to grow at a CAGR of 16.8% during the forecast period.
Patient monitoring is expected to account for over 40% of the market share by 2026.
Asia-Pacific is expected to account for over 30% of the market share by 2026.
The market is expected to be driven by factors such as cost reduction, productivity, and efficiency.

Sources:

"Global IoT Healthcare Market 2020-2026" report
ResearchAndMarkets.com
BusinessWire.com