Connect with us

Technology

Internet of Medical Things (IoMT) Market to reach over US$ 385.01 Bn by the year 2031 – Explained Details | Exclusive Study by InsightAce Analytic

Published

on

JERSEY CITY, N.J., Feb. 21, 2024 /PRNewswire/ — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Internet Of Medical Things (IoMT) Market – (Component (Hardware, Software, And Services), Platform (Device Management, Application Management, And Cloud Management), Mode Of Service Delivery (On-Premise And Cloud), Connectivity Services (Wired And Wireless), Applications (Telemedicine, Clinical Operations & Workflow Management, Connected Imaging, Medication Management, Inpatient Monitoring) And End-Use (Hospitals, Clinics, Academics, Research Institutes, Homecare))), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”

“Internet of Medical Things (IoMT) Market” in terms of revenue was estimated to be worth $52.33 billion in 2023 and is poised to reach $385.01 billion by 2031, growing at a CAGR of 28.70% from 2024 to 2031 according to a new report by InsightAce Analytic.

Internet of Medical Things (IoMT) Market Report Scope:

Report Attribute

Specifications

Market Size Value In 2023

USD 52.33 Bn

Revenue Forecast In 2031

USD 385.01 Bn

Growth Rate CAGR

CAGR of 28.70 % from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Component, Platform, Service Delivery, Connectivity Services, Applications And End-Use

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

 

Get a Free Sample Report @  https://www.insightaceanalytic.com/request-sample/1559 

Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global Internet of Medical Things (IoMT) Market are:

Remote Patient Monitoring is a Major Driver.The rise of Wearable Devices is Driving the Market.Advanced Healthcare Analytics Drives the Market.

The following are the primary obstacles to the Internet of Medical Things (IoMT) Market’s expansion:

Data Security and Privacy Concerns Restricting Market Growth.Lack of Universal Standards.Limited Reimbursement Policies.

Future expansion opportunities for the global Internet of Medical Things (IoMT) Market include:

Health Data Analytics and Predictive Modeling.Wearable Technology Integration.Remote Patient Monitoring and Chronic Disease Management.

Market Analysis:

The market analysis for the Internet of Medical Things (IoMT) reflects a dynamic landscape characterized by significant growth prospects and transformative impacts on the healthcare industry. IoMT’s integration of medical devices, connectivity, and data analytics presents opportunities for remote patient monitoring, telehealth expansion, and efficient healthcare operations. The increasing focus on preventive healthcare, personalized medicine, and research applications further propels market growth. Challenges include data security concerns, interoperability issues, and the need for universal standards.

List of Prominent Players in the Internet of Medical Things (IoMT) Market:

Siemens (Germany)General Electric (U.S.)Biotronik SE & Co. KG (Germany)Medtronic (Ireland)Boston Scientific Corporation (U.S.)Hill-Rom Services, Inc. (U.S.)Neurometrix, Inc. (U.S.)Honeywell International Inc. (U.S.)VitaConnect (U.S.), Ekso Bionics (U.S.)B.L. Healthcare, Inc. (U.S.)BioSerenityKoninklijke Philips NV. (Netherlands)Lenovo (China)AliveCor. Inc. (U.S.)

Recent Developments:

In Dec 2023, Medtronic plc agreed to expand its collaboration with Cosmo Intelligent Medical Devices, a Cosmo Pharmaceuticals subsidiary. This AI-driven association builds on the success of the GI Genius™ intelligent endoscopy module, providing ongoing innovation and scalable healthcare breakthroughs for patients and caregivers globally. Medtronic and Cosmo Pharmaceuticals remain aimed at reinventing endoscopy by leveraging AI to improve patient outcomes. This strategic agreement strengthens Medtronic’s leadership in AI-integrated healthcare products and marks a significant step in implementing AI into endoscopic treatment.In October 2023, SAP SE reported that Siemens Healthineers AG’s digital transformation journey will be enabled by the RISE with SAP solution. Siemens Healthineers aims to leverage cloud innovation through this strategic partnership with SAP and the migration of its business processes. Siemens Healthineers intends to expand its operations and stay adaptable to the changing healthcare landscape and client demands by leveraging several cloud technologies, including SAP S/4HANA Cloud, private edition, SAP Business Technology Platform, and SAP Signavio.In November 2021, GE Healthcare introduced around 60 novel technology solutions for the healthcare industry, including patient screening, therapy planning, diagnostics, guidance, and monitoring. Amid a global pandemic and mounting industry pressures, the company accelerated innovations based on artificial intelligence (AI) and digital solutions to sustain and transform healthcare delivery, making it easier and more efficient for clinicians and health systems and more personalized and precise for patients.

Curious about this latest version of the report? @  https://www.insightaceanalytic.com/enquiry-before-buying/1559 

Internet of Medical Things (IoMT) Market Dynamics:

Market Drivers: Remote Patient Monitoring

Despite the evident potential of the Internet of Medical Things (IoMT), the market faces significant restrictions primarily stemming from heightened Data Security and Privacy Concerns. As healthcare systems become increasingly interconnected through IoMT devices, the threat of unauthorized access and data breaches has raised substantial apprehensions among both healthcare providers and patients. The sensitivity of medical information necessitates stringent security measures to safeguard against cyber threats and unauthorized data access. Striking a balance between seamless connectivity and robust data protection measures poses a challenge, particularly with the growing sophistication of cyber threats.

Challenges: Data Security and Privacy Concerns

Despite the evident potential of the Internet of Medical Things (IoMT), the market faces significant restrictions primarily stemming from heightened Data Security and Privacy Concerns. As healthcare systems become increasingly interconnected through IoMT devices, the risk of unapproved access and data breaches has raised substantial apprehensions among both healthcare providers and patients. The sensitivity of medical information necessitates stringent security measures to safeguard against cyber threats and unauthorized data access. Striking a balance between seamless connectivity and robust data protection measures poses a challenge, particularly with the growing sophistication of cyber threats.

North America Is Expected To Grow With The Highest CAGR During The Forecast Period

The forecasted dominance of North America, which is expected to exhibit the highest Compound Annual Growth Rate (CAGR) in the Internet of Medical Things (IoMT) market, also presents certain restrictions. While North America is poised for substantial growth, the potential drawbacks may include challenges related to regional variations in regulatory frameworks, healthcare infrastructure, and privacy laws. The need for standardization across diverse healthcare systems and compliance with varying regulations could pose complexities for IoMT providers and stakeholders. Additionally, the increased initial expenses associated with implementing IoMT technologies might present barriers, particularly for smaller healthcare facilities.

Segmentation of the Internet of Medical Things (IoMT) Market-

By Component

HardwareSoftwareServices

By Platform

Device ManagementApplication ManagementCloud Management

By Mode of Service Delivery

On-PremiseCloud

By Connectivity Devices

WiredWireless

By Application

TelemedicineClinical Operations & Workflow ManagementConnected ImagingMedication ManagementInpatient MonitoringOthers

By End-User

HospitalsClinicsResearch InstitutesAcademicsHomecareOthers

By Region-

North America

The USCanadaMexico

Europe

GermanyThe UKFranceItalySpainRest of Europe

Asia-Pacific

ChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific

Latin America

BrazilArgentinaRest of Latin America

 Middle East & Africa

GCC CountriesSouth AfricaRest of Middle East and Africa

For More Customization @  https://www.insightaceanalytic.com/customisation/1559

Why should buy this report:

To receive a comprehensive analysis of the prospects for the global Internet of Medical Things (IoMT) MarketTo receive an industry overview and future trends in the global Internet of Medical Things (IoMT) MarketTo analyze the Internet of Medical Things (IoMT) Market drivers and challengesTo get information on the Internet of Medical Things (IoMT) Market size value (US$ Mn) forecast till 2031Major Investments, Mergers & Acquisitions in the global Internet of Medical Things (IoMT) Market industry

Other Related Reports Published by InsightAce Analytic:

Pharma 4.0 Market 

eConsent In Healthcare Market 

mHealth Solutions Market

AI in Remote Patient Monitoring Market

About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

Contact Us:

InsightAce Analytic Pvt. Ltd.
Tel.: +1 551 226 6109
Email: info@insightaceanalytic.com
Site Visit: www.insightaceanalytic.com
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ

Logo: https://mma.prnewswire.com/media/1729637/InsightAce_Analytic_Logo.jpg

 

 

View original content:https://www.prnewswire.co.uk/news-releases/internet-of-medical-things-iomt-market-to-reach-over-us-385-01-bn-by-the-year-2031—explained-details–exclusive-study-by-insightace-analytic-302067150.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Xthings Empowers Subsidiary U-tec with Strategic Upgrade and Brand Revamp, Ushering in a New Era of Smart IoT

Published

on

By

UNION CITY, Calif., Nov. 15, 2024 /PRNewswire/ — Xthings, a global leader in IoT solutions, has announced a comprehensive brand revamp and strategic upgrades for its subsidiary U-tec. This initiative aims to solidify its leadership in the smart IoT market by enhancing brand positioning, product competitiveness, and promoting innovations in smart electronic technologies.

Strategic Upgrade 

As U-tec’s parent company, Xthings will provide extensive support to elevate U-tec’s product and service offerings. This strategy encompasses:

Data-Driven Product Optimization: Utilizing Xthings’ advanced data analytics capabilities, U-tec will gain deeper insights into consumer needs, driving superior product performance and functionality.New Product Launches: U-tec will introduce an expanded range of smart devices, including locks, doorbells, cameras, control systems, and personal electronic products, all powered by the Xthings IoT platform.Enhanced Compatibility through Connectivity Standards Alliance (CSA) Collaboration: By adopting the Matter standard, Xthings ensures its products are seamlessly compatible with leading platforms such as U home, Apple Home, Google Home, Amazon Alexa, and SmartThings, thereby enhancing user experiences.

Brand Revamp 

Since its inception, U-tec has earned market recognition for its innovative smart home solutions, including smart locks, cameras, and lighting control systems. With Xthings’ support, the brand revamp will include:

Brand Image Refresh: A modernized logo and visual identity that reflect innovation and leadership in smart home and consumer electronics industry.Revised Brand Positioning: A renewed focus on providing smarter, safer, and more convenient home solutions while expanding its personal electronic consumer products.Enhanced Market Promotion: Through Xthings’ support, U-tec will bolster brand visibility and market penetration via multi-channel marketing initiatives.

Market Outlook 

This revamp and strategic upgrade underscore a deep synergy between technology and branding for Xthings and U-tec, reflecting the immense growth potential in the smart home market. Market projections indicate rapid expansion, with the global market size expected to reach $250 billion by 2028.

Matthew Brown, Xthings’ Chief Strategy Officer, remarked, “We are excited to support U-tec’s brand transformation and strategic evolution. This initiative showcases our technological expertise and shared vision, as we remain committed to delivering smarter, better user experiences.”

About U-tec Group Inc.

U-tec Group Inc. is a leader in smart home innovation, known for its superior product design and user experiences. Its portfolio includes smart lighting, security, and personal accessories, beloved by consumers worldwide.

About Xthings Inc. 

Xthings Inc. has driven advancements in IoT technology since its founding. With a track record of innovation in smart security, Xthings aims to improve quality of life, accelerate AIoT industry growth, and promote the intelligent transformation of society.

View original content:https://www.prnewswire.com/news-releases/xthings-empowers-subsidiary-u-tec-with-strategic-upgrade-and-brand-revamp-ushering-in-a-new-era-of-smart-iot-302306534.html

SOURCE Xthings

Continue Reading

Technology

Gaudio Lab Secures CES Innovation Award for Third Consecutive Year: “AI Audio Technology Capturing the World’s Attention”

Published

on

By

SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Gaudio Lab, a leader in AI audio technology, has won the CES 2025 Innovation Award with its comprehensive audio solution, “Gaudio Music Placement,” designed to address challenges in video content production and distribution. With this accolade, Gaudio Lab has marked its third consecutive year of CES Innovation Award wins, bringing its total to four awarded products over this period, further proving its position at the forefront of AI audio technology on the global stage.

Gaudio Music Placement: Revolutionizing Video Content Production

The award-winning “Gaudio Music Placement” offers a comprehensive solution that addresses various challenges in video content production and distribution. By simply uploading a video, the AI engine efficiently handles tasks such as background music selection and placement, music replacement, dubbing, subtitles, sound effects, noise reduction, and dialogue isolation – significantly reducing the time needed for these labor-intensive processes. Currently, an early version with select features, “Gaudio Music Replacement,” is commercially available, with the complete version set for release in the first half of next year.

A Solution to Copyright Challenges in Global Contents Distribution

Gaudio Music Replacement tackles the prevalent background music copyright issues that arise in video content distribution. Traditionally, resolving this required manual replacement of background music, but Gaudio’s AI quickly replaces original music with high-quality, copyright-free options that closely match the original, thus greatly accelerating the workflow. The solution leverages world-class audio separation technology to isolate and enhance dialogue, provides automated foreign language dubbing, and simplifies the application of various sound effects. Leading broadcasters in Korea have already adopted this solution, and discussions are underway with broadcasters in Japan.

Gaudio Lab’s CEO, Henney Oh, expressed his enthusiasm, stating, “We are thrilled to receive the CES Innovation Award for three consecutive years, affirming our AI audio technology as world-class. As global demand for cross-border content continues to grow, we will keep refining our products to enable fast and easy access to content distribution worldwide.”

Gaudio Lab at CES 2025

Gaudio Lab will showcase its award-winning and other AI audio products at CES 2025 in Las Vegas this January. During CES 2024, Microsoft CEO Satya Nadella visited Gaudio Lab’s booth, garnering significant attention. At CES 2025, Gaudio Lab will host a booth in the Global Pavilion, exhibiting a range of innovative AI audio solutions.

[About Gaudio Lab]

Gaudio Lab is a leading AI audio technology start-up that was founded in 2015 following the company’s spatial audio technology for headphones was adopted as the binaural renderer for the ISO/IEC MPEG-H Audio standard in 2014. Ever since its establishment, the company has worked to develop technologies to deliver superior audio experiences wherever there is sound, gaining the attention and support from top global strategic investors such as SBVA, Samsung Venture Investment and Naver Corp. Across and between reality and virtual reality, Gaudio Lab’s solutions will continue to provide optimized audio on a diverse range of platforms such as earbuds, smartphones, VOD, VR/AR, theaters, automotives and more. Gaudio Lab secured three consecutive CES Innovation Awards (2025/2024/2023, 4 products), finalist nominated for the SXSW Innovation Award 2024, adopted the ANSI/CTA international standard (2022), and obtained recognition through the adoption of the ISO/IEC MPEG-H international standard (2018, 2013). The company was also honored with the VR Awards for the Best VR Innovation Company in London (2017).

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/gaudio-lab-secures-ces-innovation-award-for-third-consecutive-year-ai-audio-technology-capturing-the-worlds-attention-302302125.html

SOURCE Gaudio Lab

Continue Reading

Technology

Intelligent.com Survey Finds 1 in 5 Managers Have Considered Quitting Due to Stress of Overseeing Gen Z Employees

Published

on

By

Managers report stress, increased workload, and challenges adapting to the expectations of younger workers

SEATTLE, Nov. 15, 2024 /PRNewswire-PRWeb/ — Intelligent.com, a platform dedicated to helping young professionals navigate the future of work, has released new findings on the challenges managers face overseeing Generation Z employees. In a survey conducted in October 2024, 1,000 U.S. managers shared their experiences, revealing high levels of stress and frustration with the newest workforce cohort.

“Managers may need to adjust their approach, acting more as coaches than traditional supervisors to better support and guide younger workers.”

Among key findings, 18% of managers report they have considered quitting due to the strain of managing Gen Z workers.

The survey highlights specific challenges in managing Gen Z employees, including excessive phone use, poor work ethic, and communication issues that impact team cohesion and productivity. Over half of the managers surveyed report increased workload and the need for additional resources to manage Gen Z employees, with many saying these workers require more guidance and attention than previous generations.

The survey found that 51% of managers experience frustration and 44% feel stress in managing Gen Z employees, with issues like workload increase (27%) and productivity declines (20%) among their top concerns. Additionally, 20% feel overwhelmed and 16% report burnout due to the demands of managing this group.

“Part of the frustration comes from a misalignment in expectations,” says Huy Nguyen, Intelligent.com’s chief education and career development advisor. “Gen Z employees often bring strong technical skills but may lack the soft skills that develop through hands-on experience, which many missed out on during the pandemic. Managers may need to adjust their approach, acting more as coaches than traditional supervisors to better support and guide younger workers.”

The majority of managers (65%) have adjusted their management style to better accommodate Gen Z employees. This includes providing more frequent feedback (44%), micromanaging (38%), and allowing more time for tasks (32%). Three-quarters of managers feel that Gen Z requires more time and resources to manage effectively compared to older generations, with 54% having experienced inappropriate communication from Gen Z employees.

Over half of managers (52%) report that Gen Z employees create tension with older generations, primarily due to differences in workplace attitudes, communication styles, and priorities. Additionally, 54% of managers say Gen Z work habits lower team productivity.

Given these challenges, 50% of managers have fired a Gen Z employee, and 27% would avoid hiring Gen Z if possible. Despite this, managers cite filling junior roles, cost-effectiveness, and concerns over ageism as reasons to continue hiring Gen Z.

This online poll was commissioned by Intelligent.com and conducted on Pollfish in October 2024. A total of 1,000 U.S. managers completed the survey. Demographic criteria and screening questions were used to ensure qualified respondents. To view the complete report, please visit: https://www.intelligent.com/1-in-5-managers-have-considered-quitting-due-to-stress-of-overseeing-gen-z-employees/

ABOUT INTELLIGENT.COM
Intelligent.com stands at the forefront of innovation, empowering young professionals to navigate the rapid technological advancements shaping our world and the future of work. The platform is dedicated to unlocking each individual’s unique potential, guiding them toward achieving their career ambitions, and maximizing their financial prospects. To learn more, please visit https://www.intelligent.com/.

Media Contact
Hannah Hayes, Intelligent.com, 0000000, hannah@intelligent.com

View original content:https://www.prweb.com/releases/intelligentcom-survey-finds-1-in-5-managers-have-considered-quitting-due-to-stress-of-overseeing-gen-z-employees-302306725.html

SOURCE Intelligent.com

Continue Reading

Trending