IoT Ensures Delivery of Error - Free Medical Records

Research analysts at Allied Market Research are excited about IoT market, that has started to grow. They say that the all new world of connected systems has long way to grow, before end -users begin embracing it completely. As per a mind – blowing statistics published in CMO the sector will exhibit potential growth in next 5 years. Published article also revealed that there were many devices connected to internet between 2015 – 2020. Furthermore, statistics highlight that volume of internet – connected systems would reach about 50 B by 2020. This would account for approximately $19 trillion in sales over the next few years. 

 

At present, most internet of things are not only present in your house or phone but have also invaded manufacturing plants. Business verticals like healthcare has also embraced IoT. CMO stats shows that total worth of the sector is about $6.2 trillion with the maximum value coming from healthcare deices. Proteus Digital Health made news when it created a tiny pill with sensor. This sensor works by transmitting data about when patients take their medication. It further pairs them with wearable products in order to inform patient’s family member whether the medication was taken at the right time or not. 

 

Prominent market players making generous investment say internet of things is going to be really big. IT giants are seen improving their approach as they move forward in their development. Today, Intel is on the threshold of its 4th phase in development of IoT. Professionals say that company is growing at a rapid rate from about 2 B system in 2006 to an estimated 200 B object by 2020.  Leaders at Ericsson say that those eyeing the industry would be happy to know that market would be flooded with over 50 B in the next few years. A McKinsey report clearly indicates that largest influence among sized applications will be in manufacturing as well as healthcare. It says the technology will have an economic influence of about $ 1.1 trillion - $ 2.5 trillion annually by 2025. 

 

IoT devices would be mainly used for chronic disease, preventive care as well as remote and assisted living. Internet of things has bridged the gap via the application of systems that can monitor physiological conditions including blood glucose levels, blood pressure and weight. Moreover, periodic information transmitted sent by such systems can be utilized to perform various analytics. In addition, the degree of automation ensured by IoT empowers providers to transfer the job of field administration as well as routine monitoring to remote monitoring, thereby saving costs. Owing to the capabilities of the wearable technology health supervision has now become more convenient. Such availability of information helps the end – user to assess and correlate different parameters. The possibilities in IoT healthcare sector are endless. 

 

Eyeing the initiatives taken by organizations to leverage their potential of internet of things and embrace IoT driven devices and procedure, Allied Market Research has published a report titled “World Internet of Things in healthcare Market - Opportunities and Forecasts, 2014 -2021.” As per the report the sector accounted for $60.4 B in 2014. In addition, the industry is expected to generate about $ 136.8 B by 2021. Research analysts further outline that market would register a CAGR of 12.5 percent between 2014 to 2020. Study offers relevant statistics on the key market drivers, restraints and opportunities of the market. Extensive coverage business performance across different regions such as North America, Europe, Asia -Pacific and LAMEA adds value to the report. To conclude, industry experts planning on exploring new markets would definitely find the report worth their time and investment. 

 

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