The healthcare IoT security market size was US$ 17.1 billion in 2021. The global healthcare IoT security market is forecast to reach the value of US$ 198.3 billion in 2030, registering a compound annual growth rate (CAGR) of 31.4% during the forecast period from 2022 to 2030. 

The healthcare IoT security market ensures the data security saved on a cloud-based platform. Modernization and technological advancement are propelling the growth of the global healthcare IoT security market. 

COVID-19 Impact Analysis

The COVID-19 outbreak has positively influenced the global healthcare IoT security market. During this emergency situation, various healthcare bodies adopted digital solutions to enhance the services and cater to the growing demand of the patients. Moreover, the demand for isolation suddenly increased during the initial phase. Thus, healthcare bodies had to manage massive data. To ensure the safety of the consumer and the data, the demand for healthcare IoT security services increased rapidly. 

Factors Influencing

• The healthcare IoT security market is forecast to witness significant growth, owing to the increasing use of digitalized technologies in the healthcare sector. 
• The increasing prevalence of the disease has made it necessary for hospitals and other healthcare bodies to adopt IoT solutions. Thus, the demand for healthcare IoT security services is forecast to increase during the study period. 
• The benefits such as real-time data processing of patient records and the increasing trend of online appointment booking are forecast to benefit the global healthcare IoT security market. 
• The susceptibility of IoT devices and growing cases of data breaches are forecast to hamper the market growth. 
• Market players may witness favorable opportunities in the emerging economies due to growing healthcare infrastructure, rising geriatric population, and growing demand for efficient healthcare facilities. 

Regional Analysis

North America is forecast to dominate the global healthcare IoT security market, owing to the increasing penetration of cloud-based technology, rising demand for IoT security and privacy, and increasing use of smart devices. In addition, increasing healthcare expenditure and the growing geriatric population are forecast to boost the growth of the healthcare IoT security market. Furthermore, the increasing prevalence of chronic diseases and growing consumer awareness towards efficient services will escalate the demand for healthcare IoT security services during the study period. 

Competitors in the Market

• Cisco Systems, Inc.
• Inside Secure SA
• Dell Inc.
• Intel Corporation
• Deutsche Telekom AG
• IBM
• Oracle
• Fortinet, Inc.
• Agile Cybersecurity Solutions, LLC
• Check Point Software Technologies Ltd.
• Other prominent players

Market Segmentation

Based on Component:

• Solutions
• Services

Based on Solution:

• Identity and Access Management
• Data Encryption and Tokenization
• Intrusion Detection System/Intrusion Prevention System
• Device Authentication and Management
• Secure Communications
• PKI Lifecycle Management
• Distributed Denial of Service Protection
• Security Analytics
• Other Solutions
  • Virtual Firewall
  • Incidence Response System

Based on Service:

• Professional Services
  • Implementation
  • Support and Maintenance
  • Consulting
• Managed Services

Based on Type:

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Other Security Types
  • Email Security
  • Content Security
  • Web Security

Based on Deployment Mode:

• On-Premises
• Cloud

Based on Organisation Size:

• Small and Medium Enterprises
• Large Enterprises

Based on Application Area:

• Smart Manufacturing
• Smart Energy and Utilities
• Connected Logistics
• Smart Home and Consumer Electronics
• Connected Healthcare
• Smart Government and Defense
• Smart Retail
• Other Application Areas
  • Smart Agriculture
  • Smart Education

Based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America