The Healthcare Internet of Things (IoT) Security Market Revenue is Expected to Grow Significantly Over the Forecast Period 2020-2028
Rising incidents of ransomware attacks on healthcare IoT devices and growing focus on improving healthcare infrastructure are key factors driving the market revenue growth
Healthcare Internet of Things (IoT) Security Market Size – USD 1.15 Billion in 2020, Market Growth – at a CAGR of 21.6%, Market Trends – Technological Advancements
Global Internet of Things (IoT) Security in Healthcare Market Report offers in-depth insights and insights into the Internet of Things (IoT) Security in Healthcare Market regarding market size, market share, growth influencing factors, opportunities and current and emerging trends. The report is formulated with the updated and latest information on the global Internet of Things (IoT) Security in Healthcare Market validated and verified by industry experts and professionals. The Global Healthcare Internet of Things (IoT) Security Market report contains historic, current, and forecast revenue and profit generation estimates for each segment and sub-segment of the Healthcare Internet of Things (IoT) Security Market in each key region of the world. The report further sheds light on the emerging growth opportunities in the field of business that are expected to support the growth of the market.
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COVID-19 impact analysis:
This report is the latest document encompassing the massive changes that have taken place in the Healthcare Internet of Things (IoT) Security market following the emergence of the COVID-19 pandemic. Pandemic has drastically affected the global economic landscape, thereby disrupting the working mechanism of Healthcare Internet of Things (IoT) Security market. The severe global crisis has prompted organizations to respond effectively to the rapidly changing business environment.
Some major companies operating in the global market include Cisco Systems Inc., Oracle Corporation, Intel Corporation, Trend Micro Inc., Kaspersky Lab, Deutsche Telekom AG, Dell Corporation, Inside Secure SA, Agile Cyber Security Solutions, LLC. and Symantec Corporation. .
IoT devices offer patients more freedom and improve compliance by simplifying monitoring and treatment. These devices enable continuous analysis and monitoring of medical data that would not be possible without the technology. They also give healthcare providers instant access to up-to-date information so they can provide better care. The emergence of COVID-19 has compelled healthcare workers to deploy connected devices and track and isolate massive numbers of COVID-19 patients. These devices enable remote service delivery and can reduce the burden on healthcare providers.
The growing popularity of wearable devices is contributing significantly to the growth of the market. Wearables in healthcare include connected devices such as ultra-lightweight wearable biosensors, which monitor patient blood glucose monitors and help keep diabetics healthy. Other IoT devices include implantable devices such as smart insulin infusion pumps, pacemakers and defibrillators. Hospitals are also using security cameras and smart pens to communicate patient data to and from electronic health record systems, which are subject to external threats. The growing need to ensure robust data and information security is a major factor driving the deployment of more advanced solutions and contributing to the growth of the market.
The endpoint security segment accounted for a significantly robust revenue share in 2020, as endpoint security is a critical path to securing healthcare data and accessing privileged hospital networks. Unauthorized and malicious activity on endpoints leads to data theft, compromises data integrity, and provides a backdoor for additional attacks.
The hospitals, surgical centers and clinics segment accounted for the largest share of revenue in 2020 due to the increased incidence of cyber attacks. Hospitals are increasingly deploying smart devices, and new smart beds monitor up to 35 data points, including oxygen, blood and pressure sensors. Compromised electronic health record data is sold on the dark web for $1,000 per record, and hospitals spend an average of $430 per record to mitigate medical identity theft.
North America accounted for the largest revenue share in 2020 due to strong demand from the United States. Wearable device sales are significantly high in the United States and have increased significantly during the first and second waves of the COVID-19 pandemic. The rising trend of personalized medicine and the growing popularity of wearable devices are expected to continue contributing to the growth of the North American healthcare IoT security market.
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Key Points Covered in the Global Healthcare Internet of Things (IoT) Security Market Report:
Chapter 1: Introduction, market driving product, study objectives and research scope of Healthcare Internet of Things (IoT) Security market
Chapter 2: Exclusive Summary – vital insights of Healthcare Internet of Things (IoT) Security Market.
Chapter 3: Market Dynamics – Healthcare Internet of Things (IoT) Security Market Drivers, Trends, and Challenges
Chapter 4: Healthcare Internet of Things (IoT) Security Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL Analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Market Segmentation by Type, End User and Region 2016-2018
Chapter 6: Market analysis by segments, by countries and by manufacturers with revenue sharing and sales by key countries in these various regions.
Chapter 7 & 8: Annex, methodology and data source…Continued
Finally, the healthcare Internet of Things (IoT) security market is a valuable source of guidance for individuals and businesses.
Emergen Research has segmented the global healthcare IoT security market on the basis of component, security type, end use, and region:
Components Outlook (Revenue, USD Billion; 2018-2028)
- Unified Threat Management
- Identity and access management
- Data loss protection
- Risk Assessment Services
- Consulting services
- Managed Security Services
- Design and integration services
Type Security Outlook (Revenue, USD Billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals, surgical centers and clinics
- Clinical research organizations
- Government and defense institutions
- Research and diagnostic laboratories
The global Internet of Things (IoT) security in healthcare market has been categorized based on key geographic regions in North America, Asia-Pacific, Europe, Latin America, Middle East and Africa. It assesses the presence of the Global Healthcare Internet of Things (IoT) Security Market in major regions with respect to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
- What are the key factors driving the global Internet of Things (IoT) security in healthcare market?
- Who are the major manufacturers in this market space?
- Who are the distributors, traders and resellers in this market?
- What are the market opportunities and risks affecting vendor performance in the global Internet of Things (IoT) Security in Healthcare market?
- What are the sales and revenue estimates of the major manufacturers in this market over the forecast period?
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