The Internet of Things (IoT) and Healthcare
According to technology experts, the H-IoT market today in the U.S. is valued at around $41 billion (USD), and currently expected to grow to $158 billion by 2022; that is a compounded rate of increase of 30.8. We believe this is a conservative number, and the growth will be much greater, in part, because many things used in our everyday lives can be of value to document our wellness.
Billion and billions of IoT items will be deployed in the U.S. and world markets, with total numbers exceeding the global population in the next year or so. Further, according to other researchers, it is estimated that by 2020 there will be over 20 billion IoT devices.
Management believes what is missing in healthcare IoT is the platform that gathers real time data, processes it and makes it actionable to individuals, patients and caregivers, both in a stand-alone platform as well as connected to their Electronic Health Record (EHR). This is the purpose of Bluebox – to collect, process and distribute the high-value data being collected as well as the additional data that will be collected as we move forward in applying technology to healthcare. We are unaware of anyone with this strategy in the market today – rather, it seems that others are more interested in their own data and are failing to see the role that all of this data, when properly processed, can bring to advancing patient wellness. As others enter this space, we remain confident that our experience and ability to connect with the managed care operator will continue to give a competitive advantage.