IoT healthcare market to reach $410B — 6 takeaways

The global IoT market is projected to experience significant growth.

Here are six takeaways:

1. By 2022, the market is expected to reach $410 billion.

2. Medical device advancements, smart phones, updated software automation, a growing geriatric population and more chronic diseases are fueling market growth.

3. The systems and software segment had revenue hitting $22.8 billion in 2014.

4. The medical device segment is expected to grow at a compound annual growth rate of 28.3 percent until 2020.

5. In 2014, North America had a 32.4 percent market share. However, Asia Pacific is projected to have a compound annual growth rate of more than 31 percent until 2020.

6. The market's key vendors include Medtronic, Philips, Cisco Systems, IBM, GE Healthcare, Microsoft, Qualcomm Life and Stanley Healthcare.

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