Healthcare M2M market to reach USD 32.97B by 2028

Zion Market Research has published a new research report titled “Global Healthcare M2M Market 2020 – 2028” in its research database. According to the latest research study, the demand of global healthcare M2M Market size was valued at USD 22.14 billion in 2020 and it is expected to surpass around USD 32.97 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.1% during the forecast period 2021 to 2028.

Healthcare M2M Market Overview:
Healthcare is one of the most basic necessities that not only improves one’s quality of life but also extends one’s life expectancy, ensuring one’s future security. Machine to Machine (M2M) is a critical tool in healthcare for improving patient care and providing remote diagnostic solutions. It consists of a sensor that records physiologic data such as heart rate, brain image, and so on. Furthermore, the recording is sent to a specific software application via wired or wireless communication, which converts the recorded data into usable information for physicians sitting far away from the patient.

These sensors could be attached to a patient’s body 24 hours a day, seven days a week, to allow a physician to monitor their health. Machine-to-machine communication can improve healthcare facilities in a variety of ways, including improved patient care and convenience for both caregivers and care recipients.

Global Healthcare M2M Market: Growth Drivers
Increased healthcare expenditures drive the growth
Increased healthcare expenditures worldwide, particularly in developed regions such as North America, are a major factor driving growth in the healthcare M2M market. The global prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer is fueling the healthcare M2M market’s growth.

Furthermore, the healthcare M2M market is being driven by continuous advancements in wireless technology to bridge the gap between the healthcare provider and the healthcare receiver.

Report Scope:

COVID-19 Impact Analysis:
The outbreak of COVID-19 positively impacted the global healthcare M2M market. Lockdown significantly increased the demand for M2M technology. A key factor expected to support the growth of the global M2M healthcare market over the forecast period is an increase in government initiatives for the deployment of smart healthcare solutions in hospitals and health service providers.

Furthermore, the widespread availability of online patient communities such as MyHealthTeams, InquisitHealth, and Smart Patients is expected to help the target market grow to some extent.

Segmentation Analysis:
Technology Segment Analysis Preview
It covers wired, wireless, and cellular technology under technology segmentation. Ethernet and industrial Ethernet are two different types of wired technology. It supports short-range, Wi-Fi, Zigbee, and Bluetooth wireless technology. It includes second generation (2G), third generation (3G), and fourth generation (4G)/Long-Term Evolution in cellular technology segmentation (LTE).

By Technology Segmentation

• Wired
• Wireless
• Cellular technology

Industry Segment Analysis Preview
Healthcare, utilities, automotive & transportation, retail, consumer electronics, and security & surveillance are the industry verticals that the M2M market is divided into. Patient monitoring and tracking, as well as telemedicine, are two subsets of healthcare. Smart grids and smart meters are covered under utilities. Telematics and fleet tracking/monitoring are covered under the automotive and transportation umbrella. Digital signage and point-of-sale, as well as vending machines and ATMs, are included in the retail segmentation. Smart TVs, smart TV consoles, and smart appliances are all examples of consumer electronics. It covers commercial and residential security, as well as remote surveillance, based on security and surveillance segmentation.

By Industry Vertical

• Healthcare
• Utilities
• Automotive & Transportation
• Retail
• Consumer Electronic
• Security & Surveillance

By Application

• Patient Well-being
• Medical Facilities
• Sports & Fitness
• Others

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