Healthcare’s IoT market to grow at CAGR of 36.5% — 4 things to know

The internet of things market in the healthcare segment is anticipated to grow at a compound annual growth rate of 36.5 percent between 2016 and 2020, based on an RnR Market Research report, according to WhaTech.

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Here are four things to know:

1. The market will witness an upswing in the development of sensor technologies and communication devices.

2. The IoT market will continue to be very competitive, spurring market growth.

3. The costliness of implementation will pose as a barrier to IoT market growth in the healthcare sector.

4. Cisco Systems, GE Healthcare, Philips Healthcare, IBM and Qualcomm are dominant market players.

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