Piezoelectric sensor is a device capable of detecting pressure changes, temperature variations along with deviations in forces by utilizing the mechanism of piezoelectric effect. Increasing demand for highly accurate pressure sensors from inferior application verticals such as diesel fuel injectors and solar equipment, augmenting the growth of piezoelectric sensors market worldwide.
The overall enterprise social networks & online communities market expected to demonstrate double digit CAGR during the forecast period from 2018 to 2026, up from US$ 2,562.3 Mn in 2017. Enterprise social networks and online communities have significantly enhanced internal collaboration among the employees due to ease of information sharing and communication.
The global anti-money laundering software market is driven by rising number of financial fraudulent activities worldwide. The market is set to hit US$ 4,173.9 Mn by 2029, expanding at a CAGR of 12.5% during the forecast period from 2021 to 2029. Advancements in technology and consequent improvements in financial services are facilitating prompt and effortless money transactions across the world. On the contrary, these advances have exposed banks and other financial institutions to the risk of money laundering.
Cloud managed services market is set to reach US$ 41.92 Bn by 2026 up from US$ 22.87 Bn in 2017, growing with a CAGR of 7.0% during the forecast period from 2018 to 2026. In recent years, cloud managed services market has witnessed an accelerated growth due to advancements in big data, mobility services and cloud computing.
The global product information management market expected to witness a significant growth, expanding at a CAGR of 17.5% during the forecast period from 2025 to 2033. The growth is primarily due to the increasing need for creating centralized repository to manage important information related to the products. The main purpose of product information management is to securely store product information so that it can be easily extracted, retrieved, assessed and utilized. Without a proper product information management system in place, these processes can be very time consuming and cumbersome.
Managed Security Services Market is projected to expand at a CAGR of 7% between 2025 and 2033 Security has become one of the broader disciplines that affect business organizations if not ensured or strengthened. Managed security services landscape is evolving with providers offering multiple security services for safeguarding the IT infrastructure of organizations across several sectors.
Neuromorphic computing systems is a computing technique that works on the principle of human brain neurons having the capability to solve cognitive problems. This biologically inspired computer can understand and learn new directives similar to a human brain and therefore can be used to tackle challenging issues such as machine learning and artificial intelligence (AI).
Healthcare organizations are increasingly investing on IoT technologies as these technologies enable end users to offer healthcare services to patient in real time via smart devices. This, in turn, is increasing the demand for digital software and solutions in healthcare sector. Also, introduction of eHealth initiatives by governments in major countries such as U.S., Canada, Germany and U.K. to enhance healthcare services is boosting growth of the digital healthcare market. Further, growing adoption of mobile and wearable devices and connected electronic health record systems is expected to fuel market growth over the forecast period.
The Healthcare IT Systems Interoperability Market was valued at US$ 3,348 Mn in 2021 and expected to reach US$ 8,848 Mn by 2033, expanding at a CAGR of 12% from 2025 to 2033. The healthcare IT systems interoperability solution aids in the seamless exchange of data associated with patients between hospitals and other healthcare facility providers within healthcare industry. Effective deployment of healthcare IT systems and real-time use of medical information through healthcare IT systems interoperability has allowed medical facilities to provide first-rate treatment and care to their patients.
Growing need to streamline day-to-day operations for curtailing overhead expenses and deliver quality care to patients are the major factors driving adoption of technologies across the healthcare domain. The use of sophisticated technologies has enabled medical community to not only adopt an efficient patient-centric approach, but also limit adverse impacts associated with the limited nursing staff and service expenses.
In terms of revenue, the worldwide healthcare IT market is projected to reach $1300 billion by 2030, expanding at a CAGR of 20% between 2023 and 2030. The usage of e-prescribing, telemedicine, mHealth, and other HCIT solutions drives the market's expansion. Yet, interoperability challenges and security concerns pose certain obstacles to the expansion of the worldwide market.
The epidemic has significantly increased the load on healthcare organizations around the world. The strain on healthcare institutions to develop a well-coordinated environment in which all clinical devices are connected internally and the organization operates in tandem with other healthcare units are great. According to Worldometer, as of December 5, 2022, there were around 650 million verified COVID-19 cases and 66 million deaths worldwide. Several countries' healthcare systems are confronting a severe lack of hospital beds, healthcare professionals, and basic medical equipment due to the rising number of illnesses. So, hospitals and other care facilities are compelled to implement capacity management tools to track COVID-19 patients and manage illness development.
During the COVID-19 pandemic, healthcare providers boosted the usage of interoperability tools to improve healthcare management, price transparency, and specialty pharmaceuticals, according to the Surescripts 2020 National Progress Report. When Surescripts added an additional 63,000 prescribers and 1.91 billion ePrescriptions in 2020, the overall number of ePrescriptions crossed 1 million for the first time. The number of electronic prescriptions for restricted medications increased by 52% between 2019 and 2020, from 134.2 million to 203.6 million. In the first month of COVID-19, there was a 72.5% increase in the number of electronic prescriptions written via telehealth.
In response to increasing pressures on health systems to decrease the cost of treatment, the industry is migrating toward outpatient settings in an effort to lower care costs. An outpatient surgery center procedure is projected to be 30 to 60 percent less expensive than an inpatient hospital procedure. Moreover, convenience is a significant element propelling the growth of ambulatory care. The need for and utilization of HCIT solutions in outpatient settings will increase as the number of outpatient settings and patients increases.
According to a United Health (US)-sponsored survey, around 10% of US hospitals implemented HCIT clinical documentation improvement projects for outpatient settings. In the next six months, it is intended to execute an additional 10% of these services. In addition, fourteen percent of hospitals intended to use innovative solutions in the near future. In the next years, this trend is anticipated to increase the usage of HCIT solutions, such as RCM systems, in outpatient settings.
In addition, as a result of the benefits of HCIT solutions, a number of federal agencies support their use in outpatient care settings. In June 2021, for example, the United States government allocated USD 80 million to a new public health informatics and technology program. This has increased the use of HCIT solutions by stakeholders in outpatient care facilities in an effort to improve patient care and results. Moreover, as a result of the advantages of web-based management for continuous care, an increasing number of patients are opting for outpatient care.
Acute Market Reports is a market research and strategic consulting company that focuses on the Healthcare IT market specifically as its primary area of expertise. Our customers are able to reap the benefits of Acute Market Reports' forward-thinking research methodology, which enables them to make well-timed and well-considered decisions regarding their businesses. In order to deliver cutting-edge strategic research solutions to our international clients, we work closely with a wide range of industry stakeholders.
