- More than half of healthcare organizations (60%) worldwide expect to adopt Internet of Things (IoT) technology by 2019, according to a new report by Hewlett Packard subsidiary Aruba, which ranked the healthcare industry as the "third most advanced in its implementation of IoT."
- Of the organizations that have already implemented IoT, 80% said the technology has led to increased innovation and 73% report cost savings.
- Also, most healthcare executives (42%) reported using the technology for monitoring and maintenance.
The use of IoT has been gaining momentum as healthcare organizations shift to value-based care models that emphasize quality and care coordination. North America dominated the worldwide healthcare IoT market in 2014, with roughly $24.6 billion in revenue, and is projected to maintain that position through 2020, according to P&S Market Research.
In October, IBM said it was investing $200 million investment in its Watson IoT global headquarters in Munich, Germany, with the aim of creating IoT “collaboratories” of scientists, engineers and developers to advance innovations in healthcare.
At the same time, the healthcare industry is struggling to secure an increasing array of connected devices. Concerns about health data security risks from IoT devices and other technologies are prompting organizations to step up security. According to a new study by Thales, 80% of U.S. healthcare organizations and 76% globally plan to increase security spending this year.
Despite those concerns, organizations are optimistic about the future of IoT in healthcare. Anticipated future benefits include increased workforce productivity and greater collaboration with colleagues and patients.