According to a new report, published by KBV research, The Global Internet of Medical Things (IoMT) Market size is expected to reach $588.9 billion by 2030, rising at a market growth of 20.4% CAGR during the forecast period.
The On-premise segment is leading the Global Internet of Medical Things (IoMT) Market by Deployment Type in 2022; thereby, achieving a market value of $348.1 billion by 2030. The growth of the on-premise deployment segment is attributable to its offering to healthcare providers to improve control over their infrastructure for the Internet of Medical Things (IoMT). The ability to customize and integrate software solutions seamlessly with existing IT systems drives the need for segment expansion even further. This is expected to stimulate the segment's growth over the forecast period.
The Software segment is showcasing a CAGR of 21% during (2023 - 2030). Artificial intelligence (AI) and machine learning (ML) algorithms examine vast patient data and provide valuable insights for personalized healthcare. In addition, the ongoing development and improvement of software components for IoMT devices to support telemedicine and virtual care services, inareuding remote consultations and integrating video conferencing, is anticipated to drive the growth of this segment.
The Hospitals segment is generating the highest revenue in the Global Internet of Medical Things (IoMT) Market by End-use in 2022; thereby achieving a market value of $213.2 billion by 2030. The expansion is attributable to the increasing prevalence of chronic diseases, the expanding geriatric population, and rising consumer healthcare expenditures. The rising demand for smart technologies to track patients' health conditions in hospitals and clinics and the rising need for routine health checkups are anticipated to drive the segment's growth over the forecast period.
The Telemedicine segment is registering a CAGR of 19.5 % during the forecast period. Its ability to enhance patient accessibility, address access to healthcare challenges, and provide cost-effective and efficient medical services, particularly in underserved and remote areas, has contributed to the segment's growth. In addition, integrating IoMT technologies improves telemedicine's efficacy by enabling remote surveillance and real-time data exchange, predicted to compel the segment's growth over the forecast period.
The North America region dominated the Global Internet of Medical Things (IoMT) Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $209.4 billion by 2030. The Europe region is poised to grow at a CAGR of 20% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 21.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/internet-of-medical-things-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, Cisco Systems, Inc., General Electric Company, Honeywell International, Inc., IBM Corporation, Koninklijke Philips N.V., Lenovo Group Limited and Medtronic PLC
By Deployment Type
By Component
By End-use
By Application
By Geography
Companies Profiled
Unique Offerings 
