Market Size of Massive Machine Type Communication in Healthcare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Massive Machine Type Communication In Healthcare Market Analysis
The Massive Machine Type Communication in Healthcare Market is expected to grow at a CAGR of 7.34% over the forecast period (2021-2026). With the rapid penetration of advanced technology and embedded devices, healthcare is undergoing an expeditious transformation toward a distributed, patient-centric approach, accommodating the need for faster, accurate, and real-time response solutions.
Healthcare devices are currently running on existing technologies, such as Wi-Fi, Bluetooth, and low-power technologies, but as the market matures, the need for connectivity to various devices will fuel the growth of massive machine type communication.
- Today, the healthcare segment faces numerous challenges such as infrastructure, connectivity, optimal resource, need for a specialist, data management, and real-time monitoring, driving the technological applications to fill the considerable gap. As per close examination of the worldwide statistics with available data for 2005-2015, indicated that around 40% of countries have less than one physician per 1000 population and less than 18 hospital beds per 10,000 population, driving the growth of the market.
- The emerging 5G network is anticipated to support smart healthcare applications that can fulfill most of the requirements, such as ultra-low latency, high bandwidth, ultra-high reliability, high density, and high energy efficiency. The advent of 5G is expected to support smart healthcare by faster and precise communication between machines and devices.
Massive Machine Type Communication In Healthcare Industry Segmentation
Massive machine communication (MMC) or massive machine to machine communication is a machine to machine communication over wired or wireless networks, where data generation, information exchange, and actuation takes place with minimal or no intervention from humans.
| By Communication Channel Type | |
| Wired | |
| Wireless |
| By Application (Qualitative Trend Analysis) | |
| Equipment Management | |
| Remote Monitoring | |
| Medical diagnostic | |
| Others Applications |
| By Region | |
| North America | |
| Europe | |
| Asia Pacific | |
| Rest of the World |
Massive Machine Type Communication in Healthcare Market Size Summary
The Massive Machine Type Communication (mMTC) in healthcare market is experiencing significant growth, driven by the rapid adoption of advanced technologies and embedded devices. This transformation is steering the healthcare sector towards a more distributed and patient-centric model, which demands faster, accurate, and real-time response solutions. The current reliance on technologies like Wi-Fi and Bluetooth is evolving as the market matures, necessitating enhanced connectivity across various devices. The challenges faced by the healthcare segment, such as infrastructure limitations, connectivity issues, and the need for real-time monitoring, are propelling the adoption of technological applications to bridge these gaps. The emergence of 5G networks is poised to further support smart healthcare applications by offering ultra-low latency, high bandwidth, and reliable communication, which are crucial for monitoring chronic conditions and enabling remote patient care.
North America is anticipated to lead in revenue generation within this market, fueled by a growing health-conscious population and substantial investments in research and development of remote medical treatment technologies. The region's hospitals are increasingly investing in equipment and technologies to enhance clinical outcomes and patient safety. The market is moderately competitive, with several major players holding significant shares and focusing on expanding their global customer base through strategic alliances. Companies like Telenor Sweden and Ericsson are collaborating to leverage IT-centric LTE networks for smart manufacturing applications, highlighting the market's dynamic nature. Key players such as Nokia, Ericsson, Cisco, Panasonic, and Huawei are actively contributing to the market's growth by innovating and expanding their offerings in the mMTC healthcare sector.
Massive Machine Type Communication in Healthcare Market Size - Table of Contents
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1. Market Insights
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1.1 Market Overview
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1.2 Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 By Communication Channel Type
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2.1.1 Wired
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2.1.2 Wireless
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2.2 By Application (Qualitative Trend Analysis)
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2.2.1 Equipment Management
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2.2.2 Remote Monitoring
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2.2.3 Medical diagnostic
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2.2.4 Others Applications
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2.3 By Region
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia Pacific
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2.3.4 Rest of the World
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Massive Machine Type Communication in Healthcare Market Size FAQs
What is the current Massive Machine Type Communication in Healthcare Market size?
The Massive Machine Type Communication in Healthcare Market is projected to register a CAGR of 7.34% during the forecast period (2024-2029)
Who are the key players in Massive Machine Type Communication in Healthcare Market?
Nokia Corporation, Telefonaktiebolaget lm ericsson, Cisco Systems, Inc., Panasonic Corporation and Huawei Technologies Co., Ltd are the major companies operating in the Massive Machine Type Communication in Healthcare Market.
