Internet of things is an interconnection of networked devices, complete with sensors, and software to collect and exchanges data and are primarily used for healthcare. IoT is estimated to consist of about 30 billion objects by 2020. Healthcare IOT Security deals to prevent unauthorized and malicious intrusion, and damage to hardware, or software which may result in disruption of operations.
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Rapid adoption of IOT by major healthcare organizations owing to advantages of cost efficiency, growing efficiency of machine-to-machine (M2M) communication reliability and operational efficiency, scalability of system, real-time data monitoring, remote operability, automation and others is the prime driver of the market. Rapid adoption of mHealth wearable’s, smart devices, advent of big data, concerns of information security, greater accuracy due to reduced human intervention, prohibitive cost of non-compliance and development of sensor and analytics technology are other drivers of the market.
Potential applications such as self-sensing, machine intelligence has led to application expanse. Growing connectivity especially in the emerging and developing countries, with more people having access to the internet has created antecedents for the rapid adoption of the IOT technology. For example, in 12 emerging nations surveyed in 2014 and 2015, significant increases in the share of internet usage was seen in Nigeria (+20 points), Ghana (+19) and China (+13).
Demographic factors such as surging healthcare expenses, and an increase in the occurrence of chronic diseases has generated an acute need for self-monitoring devices and remote health management.
Nascent stage of technology, and Complexity of hardware software mesh, privacy concerns, poor hardware and network quality, especially in the developing regions, scarcity of trained manpower, spectrum restrictions and interference from other systems, integration and compatibility issues especially with IOT standards, multiple protocols etc. are the prime constraints of the market.
To generate a detailed understanding of the contours of the global healthcare IOT security market, the report has been segmented on the basis of device types, sectors and regions.
Based on device types, the market has been segmented by real time health monitoring devices, IOT stationary devices, IOT smart devices (mHealth), and IOT ingestible devices.
Based on sectors, the market has been segmented by consulting services, risk assessment services, design & integration services, managed security services, and others.
Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.
Americas led by the U.S. commands the largest market share owing to faster uptake of latest technology, presence of global players, and developed information technology with a USD 2.2 billion market in 2015. The European market is expected to be dominated by Germany, France and the U.K. However spurts of striong growth is expected to in Scandinavian regions of Norway, Sweden and Finland. Asia-Pacific is expected to be the fastest growing region led by Japan, China and India. The Middle East and Africa region is expected to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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Some of the dominant players in the global healthcare IOT security market are Inside Secure SA (France), Intel Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Sophos Ltd. (U.K.), and others.
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