The Internet of Things (IoT) is a new way of connecting physical devices, like appliances, vehicles and other objects, to a network. These devices have sensors, software and connectivity that allow them to collect and share data. The IoT is a big change in technology, and it’s important because it means that devices can communicate with each other and share information.
IoT has become a necessity within the healthcare industry, revolutionizing traditional patient care and healthcare management methods. From wearable devices that monitor vital signs to sophisticated systems that streamline hospital operations, IoT has paved the way for a new era in healthcare. Its transformative impact has enabled healthcare providers to deliver better care more efficiently.
According to a report by Statista, the Internet of Things (IoT) market in Australia is expected to generate a revenue of about AUD 15.46 billion in 2023. The healthcare sector is one of the key drivers of the IoT market in Australia. The Internet of Things healthcare market is expected to grow at a CAGR of 12.21% between 2023 and 2028, reaching AUD 3.24 billion by 2028. This IoT healthcare market size growth is being driven by the increasing demand for remote patient monitoring, smart wearables, and other IoT healthcare solutions.
