Global $27.7 Billion Healthcare IoT Security Market 2019-2028: Focus on Systems, Solutions, Services and Region – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)-- The "Global Healthcare IoT Security Market: Focus on Systems, Solutions (Network Security and Endpoint Security, among others), Services (Consulting and Design & Integration, among others), and Region - Analysis and Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.

The global healthcare IoT security market was $932.5 million in 2018, and is estimated to grow over $27,775.8 million by 2028.

The global healthcare IoT security market is expected to grow at a double-digit compound annual growth rate between the years 2019 and 2028, primarily driven by the increased data privacy and security concerns among consumers. The increase in the number of healthcare IoT security services owing to the increased proliferation of cybercrimes in healthcare, is further bolstering the healthcare IoT security market.

IoT is rapidly being adopted by major healthcare organizations for patient health management as well as to enhance the operational efficiency of these organizations. Cost efficiency, reliability, and better health management of the patients are one of the most important goals that can be achieved with the help of IoT usage in the healthcare sector.

Individuals today are using various kinds of networked devices in order to learn more about their health and daily regime. Home monitoring of aging population with regards to medical emergencies and medical adherence has become possible through the usage of mHealth applications and smart pills.

Along with the global increase in the usage of mHealth applications and wearables, IoT security is expected to play a crucial role in the protection of the big data (health information) collected and communicated from various smart devices to the caregivers and patients.

However, along with the rewards of IoT, are attached the concerns regarding security and privacy of the patient healthcare data. Mobile and wearable devices, pacemakers, insulin pumps, and other medical systems in the IoT create more access points for the hackers. Healthcare data acquires major value in the black market as compared to credit card details and other financial data.

North America held the largest market share in 2018 and accounted for over 46.7% of the revenue share owing to increased proliferation of cybercrimes in healthcare. However, Asia-Pacific is projected to be the fastest-growing market and is anticipated to grow at a CAGR of over 45% from 2019 to 2028. Furthermore, owing to the increased usage of smart devices for health management, Rest-of-the-World is also expected to make significant investments in the market.

The global healthcare IoT security market consists of a multitude of companies catering to different needs within an IoT security environment. The broad segments, the market could be defined under are: healthcare IoT security solutions, and healthcare IoT services. The healthcare IoT services are further defined under: consulting services, risk assessment services, design and integration services, and managed security service, among others. Moreover, the healthcare IoT solutions are further defined under: network security, endpoint security, cloud security, application security, and content security, among others.

Healthcare IoT services are the leading segment contributing to 61.32% of the overall market in 2018. The healthcare IoT services market is primarily driven by increasing connectivity of healthcare IoT devices with the caregivers, increased proliferation of cybercrimes in healthcare, and increased data privacy and security concerns among consumers.

Research Highlights

• Several small-medium enterprises such as Kaspersky labs, Security Mentor, and Sophos, Ltd., are venturing into the market and sustaining the competition through the development of a wide range of applications in different areas of healthcare IoT security.
• Sophos Group acquired Darkbye. The main aim of this acquisition is to accelerate the global managed security services that will eventually span endpoint, firewall, mobile devices, and wireless apps, among others.
• Microchip introduced AWS IOT Greengrass Hardware Security Interface (HSI) with the main intention to remove the exposure of private keys to software, firmware, end users, manufacturing sites or other third parties.
• APAC region, for network security solution, is expected to grow at a CAGR of 41.41% during the forecast period as this region is highly populated and its geriatric population is increasing, further leading to an increase in the exchange of patient information among the healthcare providers. Therefore, the network security becomes essential.
• Cisco collaborated with Ochsner Healthcare. Cisco TrustSec network security technology allows Ochsner to secure sensitive PCI data from the general traffic.
• Alphabet's chronical launched an enterprise version of VirusTotal for network security.

Key Topics Covered

Executive Summary

1 Market Overview

1.1 Introduction

1.2 Market Definition

1.3 IoT in Healthcare: Overview

1.4 Application of IoT in Healthcare Industry

1.5 Global Healthcare IoT security market

1.5.1 Assumptions and Limitations

1.6 Healthcare IoT Security Market Overview: Key Elements Covered

1.7 IoT-enabling Technologies in Healthcare

1.7.1 Reasons to Focus on Healthcare IoT Security

1.7.2 Healthcare IoT Security Architecture

2 Healthcare IoT Security Market

2.1 Market Classification

2.1.1 Market segmentation by security solutions

2.1.2 Market Segmentation, by Security Services

2.1.3 Market Segmentation, by Region

2.2 Key Stakeholders

3 Market Overview

3.1 Market Dynamics

3.2 Market Drivers

3.2.1 Introduction

3.2.2 Increased Data Privacy Concerns Among Consumers

3.2.3 Increased Government Concerns Over Healthcare IoT Security

3.2.4 Increased Usage of Smart Devices for Health Management

3.2.5 Increased Proliferation of Cyber Crimes in Healthcare

3.3 Market Challenges

3.3.1 Introduction

3.3.2 Lack of Technological Awareness About IoT Threats Among Healthcare Organizations

3.3.3 Meeting Inter-Region Regulation for Data Privacy

3.4 Market Opportunities

3.4.1 Introduction

3.4.2 More Cloud Storage for Sensitive Data

4 Industry Analysis

4.1 Introduction

4.2 Regulations/Act

4.3 Patents

4.4 Consortiums

4.5 Standards

4.6 Value Chain Analysis

4.6.1 Problem Recognition

4.6.2 Security Solutions Providers

4.6.3 Security Services Providers

5 Global Healthcare IoT Security Market by Solutions

5.1 Introduction

5.1.1 Market Statistics

5.2 IoT Security Market in Healthcare Sector by Solutions

5.2.1 Introduction

5.2.2 Market Statistics

5.2.3 Network Security

5.2.3.1 Introduction

5.2.3.2 Network Security Market Scope

5.2.3.3 Key Players

5.2.3.4 Market Statistics

5.2.3.5 Why is IoT Network Security Crucial?

5.2.3.6 Significant Developments

5.2.4 Endpoint Security

5.2.5 Content Security

5.2.6 Application Security

5.2.7 Cloud Security

6 Global Healthcare IoT Security Market by Services

6.1 Introduction

6.1.1 Market Statistics

6.2 Consulting Services

6.2.1 Introduction

6.2.2 Security Consulting Services Market Scope

6.2.3 Key Players

6.2.4 Market Statistics

6.2.5 Why are IoT Consulting Services Crucial?

6.2.6 Significant Developments and Players

6.3 Risk Assessment Services

6.3.1 Introduction

6.3.2 Security Risk Assessment Services Market Scope

6.3.3 Key Players

6.3.4 Market Statistics

6.3.5 Why are IoT Risk Assessment Services Crucial?

6.3.6 Significant Developments

6.4 Design and Integration Services

6.4.1 Introduction

6.4.2 Security Design and Integration Services Market Scope

6.4.3 Key Players

6.4.4 Market Statistics

6.4.5 Why are IoT Design and Integration Services Crucial?

6.4.6 Significant Developments

6.5 Managed Security Services

6.5.1 Introduction

6.5.2 IoT managed security services market scope

6.5.3 Key Players

6.5.4 Market Statistics

6.5.5 Why are Managed Security Services Crucial?

6.5.6 Significant Developments

6.6 Others (Training and Education, E-mail Security, among Others)

6.6.1 Introduction

6.6.2 Other IoT Security Service Market Scope

6.6.3 Key Players

6.6.4 Market Statistics

7 Global Healthcare IoT Security Market, by Region

7.1 Introduction

7.2 North America

7.2.1 Introduction

7.2.2 Market Statistics

7.2.3 Key ACT for data privacy and security in North America

7.2.3.1 Key Facts Raising Healthcare IoT Security concerns in North America

7.2.3.2 Health Insurance Portability and Accountability (HIPAA)

7.2.3.2.1 Criteria for Defining Healthcare Data Covered by HIPAA

7.2.4 North America Key Developments

7.2.5 North America Key Players

7.3 Europe

7.3.1 Introduction

7.3.2 Market Statistics

7.3.3 Key act for data privacy and security in Europe

7.3.3.1 Key Facts Raising Healthcare IoT Security Concerns in Europe

7.3.3.2 Data Protection Act (DPA)

7.3.3.2.1 Applicability of the Existing Data Protection Law to IoT

7.3.4 Europe: Key developments

7.3.5 Europe Key Players

7.4 Asia-Pacific (APAC)

7.4.1 Introduction

7.4.2 Market Statistics

7.4.3 Key act for data privacy and security in APAC

7.4.3.1 Key Facts Raising Healthcare IoT Security Concerns in APAC

7.4.3.2 Personal Data Protection Act (PDPA)

7.4.4 APAC: Key developments

7.4.5 APAC: Key players

7.5 Rest-of-the-World (RoW)

7.5.1 Introduction

7.5.2 Market Statistics

7.5.3 Key Act for Data Privacy and Security in RoW

7.5.3.1 Key Facts Raising Healthcare IoT Security Concerns in RoW

7.5.4 RoW: Key Developments

7.5.5 RoW: Key players

8 Company Profiles

8.1 Overview

8.2 Agile Cybersecurity Solutions, LLC

8.2.1 Company Overview

8.2.2 Role of Agile Cybersecurity Solutions in the Healthcare IoT Security Market

8.2.3 SWOT Analysis

8.3 ARM Holdings PLC

8.4 SoftBank Group

8.5 Check Point Software Technology

8.6 Cisco Systems Inc.

8.7 Dell Corporation

8.8 Deutsche Telekom AG

8.9 Eurotech S.p.A.

8.10 Fortinet Inc.

8.11 IBM Corporation

8.12 Inside Secure S.A.

8.13 Intel Corporation

8.14 Intelene Inc.

8.15 Kaspersky Lab

8.16 KPMG

8.17 Microchip Technology Inc.

8.18 Oracle Corporation

8.19 SecureFLO LLC

8.20 Security Mentor

8.21 Sophos Ltd.

8.22 Symantec Corporation

8.23 Trend Micro Inc.

9 Research Scope and Methodology

9.1 Report Scope

9.2 Healthcare IoT security Market: Research Methodology

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Related Topics: Internet of Things and M2M

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