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IoT in healthcare set to skyrocket at $469.4 bn by 2027

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IoT in Healthcare

It is without a shadow of a doubt that the pandemic has brought the world to a golden age of technology, as it accelerated digital transformation and technological innovations that will forever shape how we lead our lives.

The obvious champion of the pandemic was the healthcare industry, which saw it being infused with a plethora of tech-oriented solutions, inventions, and render the experience as seamless as possible.

Technological advancements are making a mark across the healthcare industry to a considerable extent. Monitoring and diagnosing patients are of utmost importance in the healthcare sector. The increasing use of connected technologies like IoT has resulted in overwhelming innovations.

Thus, all these factors bring immense growth prospects for the IoT in healthcare market.

IoT, or the Internet of Things, is a form of connected technology that uses data to customize real-time monitoring aspects and enhance customer experience. IoT is used extensively to enable real-time health monitoring and usually accesses patient health data.

The data proves to be a treasure for the stakeholders in the healthcare sector as it helps in enhancing patient health. Thus, all these advantages help in boosting the growth prospects of the Internet of Things in healthcare market.

A new study by Transparency Market Research (TMR) analyzed the overall development of the IoT in healthcare market in recent times. TMR experts project the IoT in healthcare market to record a whopping CAGR of 20.9 percent across the forecast period of 2019-2027.

The global IoT in healthcare market is estimated to reach a valuation of $469.4 billion by 2027, the end year of the forecast period.

With the advent of IoT in healthcare, patients’ interactions are not just limited to text messages, visits, and calls. IoT in healthcare has enabled doctors and clinicians to monitor the progress of their patients frequently.

 The data provided by IoT helps in increasing patient engagement and satisfaction due to more efficiency and accuracy. In addition, the COVID-19 pandemic will have a massive positive impact on the growth of the IoT in healthcare market.

Vaccine to boost IoT in Healthcare

COVID-19 vaccines are the key to reducing the effect of the pandemic around the world.

Mass vaccination drives are being conducted across the globe through varied vaccination drives; thus, connected technologies play an important role in the manufacture and supply of vaccines.

The Smart Fridge by Weka is a classic instance. This fridge uses IoT to allow remote monitoring of vaccines and ensures that the vaccines are stored at the right temperature. These factors will play an important role in increasing the growth rate of the Internet of Things in healthcare market.

Connected Ambulances

IoT in healthcare is not just limited to devices; the technology is making a great impact on emergency services as well.

Ambulances play a major role in providing emergency services. These ambulances, if connected with the IoT can help in addressing the issues of the patients with utmost care.

Unlike standard ambulances, IoT-enabled ambulances are connected to remote consultation rooms. It enables the paramedics to consult patients remotely and diagnose their problems immediately without wasting much time. All these factors bode well for the growth of the Internet of Things in healthcare market.

IoT in Healthcare Market: Uses in COVID-19 Pandemic

The growing transmission levels and the increasing strain on the healthcare facilities boost the need for connected technologies extensively. Here’s how the IoT in healthcare is playing a significant role during the pandemic according to the study by TMR:

  • IoT devices are speeding up the COVID-19 detection processes by capturing patient data and other information.
  • During the COVID-19 quarantine period, the patients can be monitored remotely by the authorities through wearables and similar technologies.
  • Crowd monitoring devices powered by IoT will help ensure social distancing in public spaces.

While these innovations and inventions have massive room to disrupt the healthcare market, many experts have made the point that we remain at the tip of the technological iceberg, with much more to come.

We’re a diverse group of industry professionals from all corners of the world. Our desire is to provide a high-quality telecoms publication that caters to an international market, offering the latest and most relevant telecoms information to businesses, entrepreneurs and enthusiasts.

IoT

5 everyday applications for IoT Technology beginning to emerge

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5 everyday applications for IoT Technology beginning to emerge

Inside Telecoms staff often write about how the Internet of Things (IoT) will change the future of manufacturing and transform cities into smart ones. What we don’t cover often are the everyday applications for IoT technologies that may become available in our homes in the next 5 short years.

Smart mirrors

While many of us already use our flatscreens, smart TVs and makeshift mirrors, could you ever imagine using your mirror as a makeshift TV? Smart mirrors are among the more fun and futuristic applications for IoT.

With smart mirrors on people’s wish lists, you can take calls, shop, share screens and even watch videos, workout routines, or do your makeup with an attached reference photo or video tutorial.

It’s like having a giant laptop stuck to your wall, but much more sustainable, and for the price of an overpriced mirror. You can also just jump-scare your housemates with a zombie video cast onto the mirror as they get ready for work.

Smart Doors

We’ve been to the moon six times, landed a drone on mars, and ferried hundreds of astronauts to the International Space Station and back, but we still carry around the same old metal keys that disappear as soon as you need them.

But often do you lose your phone? Not as often I’d bet. Smart doors open and close automatically when you pass by can be a form of connected key system that one can use to unlock house doors remotely.

You can add or remove access from the contacts on your phone. Friend left his sunglasses at your place while you’re at work? No problem, simply give him access from your phone app so he can get it, and you will be notified when he leaves. Mother-in-law wants to drop by but doesn’t have access? Too bad, keep walking lady.

Smart Money Transactions

Our grandchildren will be paying for their gas masks and oxygen with electric wrist skin graphs that are connected straight to their Neuralink. We will soon be paying with a good-old-fashioned smart wristwatch.

The world is fast adopting digital-first solutions, and day-to-day shopping will changed for the majority, as cashiers and cash registers are being swapped out for smart transaction readers.

Your balance will automatically be updated upon your purchase, and all you have to do it walk out of the store with your groceries.

Robotic Arms

IoT Technology enabled robotic arms allow small machine appendages to perform several simple mechanical tasks around the house.

Make art, 3D print objects, and day-to-day chores depending on the end effect of the machine.

Using an advanced interface to control the arm, you can tell it how to perform a task at hand, after which machine learning technology within it can help you turn that robot arm into a smart kitchen helper.

So, you can delegate the egg cracking and bowl stirring to the machines and let your child go play their video games. Someone reading this has already thought of programming the arm to turn off the alarm in the morning.

Smart Irrigation

While watering plants is the most calming part of tending to a garden, technology can still find a way to make the gardening part easier on your back. By installing a smart irrigation system in your yard, you can maintain a beautiful garden while saving both water and effort.

The systems are often equipped with moisture sensors and automatic segmented water pipes, allowing it to tell whether the tulips need watering while leaving the grass untouched if desired.

Bonus round: Smart Coffee machine

Yes, they already exist, but you likely never thought you needed one. Let this be your sign to invest in a smart coffee maker that makes your brew just the way you like it, and learned when you wake and how you like it.

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Telstra secures largest IoT contract with water utility firm

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largest IoT contract

Australian-based operator Telstra said it has won a 15-year contract from Yarra Valley Water to provide one million industrial IoT services on Telstra’s IoT network.

Telstra says this is its largest IoT deal to date and the first large-scale IoT deployment using Telstra’s new cloud-based platform-as-a-service IoT Connection Manager (ICM). Telstra will deploy its ICM platform to enable Yarra Valley Water gain access to near real-time data from a range of in-field sensors.

“Instead of getting four data points a year, our IoT Connection Manager will now allow Yarra Valley Water to get more than 17,000 data points annually for a much more accurate, near real-time, and robust understanding of its water infrastructure,” Telstra’s group owner of industry solutions and IoT Mark Chapman said.

Cellular low power wide area network

The Yarra Valley Water solution leverages Telstra’s cellular low power wide area network (LPWAN), which offers an IoT coverage of around 4 million square kilometers for NB-IoT and over 3 million square kilometers for LTE-M.

Yarra Valley Water Managing Director, Pat McCafferty, said: “Internet of Things devices are a game changer for the water industry. By deploying a range of different sensors into our water and sanitation networks, we can detect leaks, minimise water wastage and save our customers money.”

Telstra said that its IoT network currently has over 4 million connections in the country.

As part of the agreement, Telstra will provide the IoT connectivity and the ICM Platform to enable sensor readings to be collected automatically in near real-time.

This will enable the utility company to prevent leaks from becoming bursts, sewer blockages from becoming spills, and notifying customers about issues on their properties so they can act quickly.

17,000 data points annually

Telstra Group Owner of Industry Solutions and IoT Mark Chapman said: “Instead of getting four data points a year, our IoT Connection Manager will now allow Yarra Valley Water to get more than 17,000 data points annually for a much more accurate, near real-time, and robust understanding of its water infrastructure.”

He added: “This is a great example of how our leading IoT network and platform is helping organizations use connected technology to drive positive customer experiences and help remotely monitor its assets and complex infrastructure.”

Telstra, which had launched 5G in May 2020, is currently using its spectrum in the 3.6 GHz band to provide 5G technology across Australia. Some of the cities in which Telstra offers its 5G service are Canberra, Central Coast, Brisbane, Sidney, Cairns, Gold Coast, Adelaide, Hamilton, Melbourne and Perth.

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Global eSIM shipments to reach 822 mil by 2025, as smart cities drive growth

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smart cities

A new Juniper Research study found that the number of global eSIM module shipments will increase from 430 million in 2020 to 822 million in 2025; representing a growth of 90 percent.  

The research identified the public sector as the fastest-growing area, with shipments of eSIM‑enabled public sector sensors expected to increase by 500 percent over the next four years, as smart city services benefit from the flexibility of the growing eSIM ecosystem. 

The new research, eSIMs: Sector Analysis, Emerging Opportunities & Market Forecasts 2021-2025, found that smart street lighting sensors will account for 88 percent of eSIM shipments within the public sector by 2025.  

“We predict that smart city providers will leverage cellular networks, underpinned by eSIMs, as gateways to low-power connections for the monitoring and management of smart city services,” the report pointed out.  

NA Smart Cities achieve global dominance 

The report predicts that the U.S. will remain the largest market for public sector eSIM adoption; accounting for 30 percent of eSIMs installed in devices by 2025.  

It highlighted that “operators in North America have led the development and roll-out of 5G networks, which has enabled new levels of city-wide automation and information sharing in smart cities.”  

Government authorities in other regions must follow the example set by smart cities in North America to ensure the smooth transition from legacy technology to smart sensors underpinned by robust eSIM technology. 

Standalone 5G Networks Key for Future Smart Cities 

The study urges eSIM vendors to develop 5G-capable modules to capitalise on the growth of next‑generation 5G standalone networks, which enables the deployment of 5G-enabled eSIMs within smart cities. 

Research author Scarlett Woodford noted: ‘To support smart city initiatives, eSIM vendors must invest in the development of 5G-enabled form factors. By combining flexible network connectivity with high bandwidth transmission and reduced latency, 5G-capable modules will enable local authorities to monitor connected sensors in real-time and allocate resources accordingly.’ 

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