Some of the leading players operating in the healthcare M2M (machine-to-machine) market are Telefonica S.A., AT&T Inc., Vodafone Group plc, and GE Healthcare. Developing innovative healthcare data management methods and offering user-friendly IoT solutions are seminal factors governing the competitive dynamics in the market. Several players are keen on offering M2M solutions on cloud models to gain a competitive edge over others, finds Transparency Market Research (TMR).
The leading players are developing advanced M2M platforms that address remote patient monitoring and help in bridging the patient-physician gap. Numerous companies are entering into strategic alliances, in a move to consolidate their market presence and enhance their brand value. These M2M solutions are aimed at improving the affordability and quality of care, reducing administrative costs, and increasing the accuracy of diagnosis.
The valuation of the healthcare M2M market stood at US$1.56 bn in 2014 and is anticipated to grow at a CAGR of 22.5% from 2015 to 2023. Growing at this pace, the opportunities in the market is expected to surge to US$10.05 bn by the end of the forecast period.
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Ease of Operations in Patient Care Bolster Adoption of M2M Solutions
Geographically, North America is expected to dominate the healthcare M2M market throughout the forecast period. The increased deployment of healthcare M2M solution in this regional market is attributed to the several benefits, attributed mainly to patent-centric focus of a number of healthcare facilities. The regional market is projected to reach US$3.08 bn by the end of the forecast period.