$117 Billion Market For Internet of Things In Healthcare By 2020 Posted on : Apr 25 - 2015

According to a new report from MarketResearch.com, the healthcare Internet of Things market segment is poised to hit $117 billion by 2020. Depending on the company talking about it, you will hear different terms: Internet of Things (abbreviated IoT by many companies), Internet of Everything (Cisco), or the Industrial Internet (GE). But the combined IoT market adds up to be much larger than $117 billion.

I prefer the term “smart sensors” or something that speaks simply about what the Internet of Things is about: Connected sensors, more or less. This post about smart sensors began when I watched a video by Temboo, a new company that provides the software stack for developing Internet of Things applications, which lets you stream your sensor data to wherever you are hosting your infrastructure. Like many of their competitors, they recognize that the $117 Billion in healthcare devices is only a slice of what’s coming.

The Internet of Things is frequently in the news, and for many of us, it draws a big yawn. Yes, lots of data is moving between devices and people, from machine to machine. But when you start to watch what big players are doing, such as IBM, Cisco, Microsoft, Google, Amazon, and GE, just to name a few, you get a glimpse into how this Smart Sensor opportunity is why entrepreneurs and investors are paying attention to it.

IBM’s Watson is a good example of their effort to make sense of Big Data, and this data and the necessary analysis of it, is partly generated by smart sensors.  GE, to their credit, uses “Smart Factory” as one way to define their Industrial Internet concept. Fast Company has an excellent article about the future as GE sees it. View more