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Internet of Medical Things (IoMT) Market to reach over US$ 385.01 Bn by the year 2031 – Explained Details | Exclusive Study by InsightAce Analytic

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JERSEY CITY, N.J., Feb. 21, 2024 /PRNewswire/ — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Internet Of Medical Things (IoMT) Market – (Component (Hardware, Software, And Services), Platform (Device Management, Application Management, And Cloud Management), Mode Of Service Delivery (On-Premise And Cloud), Connectivity Services (Wired And Wireless), Applications (Telemedicine, Clinical Operations & Workflow Management, Connected Imaging, Medication Management, Inpatient Monitoring) And End-Use (Hospitals, Clinics, Academics, Research Institutes, Homecare))), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”

“Internet of Medical Things (IoMT) Market” in terms of revenue was estimated to be worth $52.33 billion in 2023 and is poised to reach $385.01 billion by 2031, growing at a CAGR of 28.70% from 2024 to 2031 according to a new report by InsightAce Analytic.

Internet of Medical Things (IoMT) Market Report Scope:

Report Attribute

Specifications

Market Size Value In 2023

USD 52.33 Bn

Revenue Forecast In 2031

USD 385.01 Bn

Growth Rate CAGR

CAGR of 28.70 % from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Component, Platform, Service Delivery, Connectivity Services, Applications And End-Use

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

 

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global Internet of Medical Things (IoMT) Market are:

Remote Patient Monitoring is a Major Driver.The rise of Wearable Devices is Driving the Market.Advanced Healthcare Analytics Drives the Market.

The following are the primary obstacles to the Internet of Medical Things (IoMT) Market’s expansion:

Data Security and Privacy Concerns Restricting Market Growth.Lack of Universal Standards.Limited Reimbursement Policies.

Future expansion opportunities for the global Internet of Medical Things (IoMT) Market include:

Health Data Analytics and Predictive Modeling.Wearable Technology Integration.Remote Patient Monitoring and Chronic Disease Management.

Market Analysis:

The market analysis for the Internet of Medical Things (IoMT) reflects a dynamic landscape characterized by significant growth prospects and transformative impacts on the healthcare industry. IoMT’s integration of medical devices, connectivity, and data analytics presents opportunities for remote patient monitoring, telehealth expansion, and efficient healthcare operations. The increasing focus on preventive healthcare, personalized medicine, and research applications further propels market growth. Challenges include data security concerns, interoperability issues, and the need for universal standards.

List of Prominent Players in the Internet of Medical Things (IoMT) Market:

Siemens (Germany)General Electric (U.S.)Biotronik SE & Co. KG (Germany)Medtronic (Ireland)Boston Scientific Corporation (U.S.)Hill-Rom Services, Inc. (U.S.)Neurometrix, Inc. (U.S.)Honeywell International Inc. (U.S.)VitaConnect (U.S.), Ekso Bionics (U.S.)B.L. Healthcare, Inc. (U.S.)BioSerenityKoninklijke Philips NV. (Netherlands)Lenovo (China)AliveCor. Inc. (U.S.)

Recent Developments:

In Dec 2023, Medtronic plc agreed to expand its collaboration with Cosmo Intelligent Medical Devices, a Cosmo Pharmaceuticals subsidiary. This AI-driven association builds on the success of the GI Genius™ intelligent endoscopy module, providing ongoing innovation and scalable healthcare breakthroughs for patients and caregivers globally. Medtronic and Cosmo Pharmaceuticals remain aimed at reinventing endoscopy by leveraging AI to improve patient outcomes. This strategic agreement strengthens Medtronic’s leadership in AI-integrated healthcare products and marks a significant step in implementing AI into endoscopic treatment.In October 2023, SAP SE reported that Siemens Healthineers AG’s digital transformation journey will be enabled by the RISE with SAP solution. Siemens Healthineers aims to leverage cloud innovation through this strategic partnership with SAP and the migration of its business processes. Siemens Healthineers intends to expand its operations and stay adaptable to the changing healthcare landscape and client demands by leveraging several cloud technologies, including SAP S/4HANA Cloud, private edition, SAP Business Technology Platform, and SAP Signavio.In November 2021, GE Healthcare introduced around 60 novel technology solutions for the healthcare industry, including patient screening, therapy planning, diagnostics, guidance, and monitoring. Amid a global pandemic and mounting industry pressures, the company accelerated innovations based on artificial intelligence (AI) and digital solutions to sustain and transform healthcare delivery, making it easier and more efficient for clinicians and health systems and more personalized and precise for patients.

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Internet of Medical Things (IoMT) Market Dynamics:

Market Drivers: Remote Patient Monitoring

Despite the evident potential of the Internet of Medical Things (IoMT), the market faces significant restrictions primarily stemming from heightened Data Security and Privacy Concerns. As healthcare systems become increasingly interconnected through IoMT devices, the threat of unauthorized access and data breaches has raised substantial apprehensions among both healthcare providers and patients. The sensitivity of medical information necessitates stringent security measures to safeguard against cyber threats and unauthorized data access. Striking a balance between seamless connectivity and robust data protection measures poses a challenge, particularly with the growing sophistication of cyber threats.

Challenges: Data Security and Privacy Concerns

Despite the evident potential of the Internet of Medical Things (IoMT), the market faces significant restrictions primarily stemming from heightened Data Security and Privacy Concerns. As healthcare systems become increasingly interconnected through IoMT devices, the risk of unapproved access and data breaches has raised substantial apprehensions among both healthcare providers and patients. The sensitivity of medical information necessitates stringent security measures to safeguard against cyber threats and unauthorized data access. Striking a balance between seamless connectivity and robust data protection measures poses a challenge, particularly with the growing sophistication of cyber threats.

North America Is Expected To Grow With The Highest CAGR During The Forecast Period

The forecasted dominance of North America, which is expected to exhibit the highest Compound Annual Growth Rate (CAGR) in the Internet of Medical Things (IoMT) market, also presents certain restrictions. While North America is poised for substantial growth, the potential drawbacks may include challenges related to regional variations in regulatory frameworks, healthcare infrastructure, and privacy laws. The need for standardization across diverse healthcare systems and compliance with varying regulations could pose complexities for IoMT providers and stakeholders. Additionally, the increased initial expenses associated with implementing IoMT technologies might present barriers, particularly for smaller healthcare facilities.

Segmentation of the Internet of Medical Things (IoMT) Market-

By Component

HardwareSoftwareServices

By Platform

Device ManagementApplication ManagementCloud Management

By Mode of Service Delivery

On-PremiseCloud

By Connectivity Devices

WiredWireless

By Application

TelemedicineClinical Operations & Workflow ManagementConnected ImagingMedication ManagementInpatient MonitoringOthers

By End-User

HospitalsClinicsResearch InstitutesAcademicsHomecareOthers

By Region-

North America

The USCanadaMexico

Europe

GermanyThe UKFranceItalySpainRest of Europe

Asia-Pacific

ChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific

Latin America

BrazilArgentinaRest of Latin America

 Middle East & Africa

GCC CountriesSouth AfricaRest of Middle East and Africa

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Why should buy this report:

To receive a comprehensive analysis of the prospects for the global Internet of Medical Things (IoMT) MarketTo receive an industry overview and future trends in the global Internet of Medical Things (IoMT) MarketTo analyze the Internet of Medical Things (IoMT) Market drivers and challengesTo get information on the Internet of Medical Things (IoMT) Market size value (US$ Mn) forecast till 2031Major Investments, Mergers & Acquisitions in the global Internet of Medical Things (IoMT) Market industry

Other Related Reports Published by InsightAce Analytic:

Pharma 4.0 Market 

eConsent In Healthcare Market 

mHealth Solutions Market

AI in Remote Patient Monitoring Market

About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

Contact Us:

InsightAce Analytic Pvt. Ltd.
Tel.: +1 551 226 6109
Email: info@insightaceanalytic.com
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OpenText, Cohere Partner to Combine Trusted Data with Agentic AI

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Partnership combines OpenText’s trusted data and context with Cohere’s North platform and models to help organizations build, connect, and orchestrate agentic AI from pilot to production

MONTREAL, Sept. 16, 2026 /CNW/ — OpenText Corporation (NASDAQ: OTEX) (TSX: OTEX), a global leader in data management and context for enterprise AI, and Cohere, the world’s leading sovereign AI company, today announced a strategic partnership at the ALL IN AI conference to bring trusted agentic AI to governments and regulated industries.

Together, OpenText and Cohere provide complementary layers of the AI stack for the agentic enterprise. As the data and context layer, OpenText unlocks enterprise data, including unstructured, operational and transactional data, and gives agentic AI the context it needs. Cohere provides the application and orchestration layer through North, its secure, privately deployable agentic AI platform, together with its cutting-edge enterprise AI models for powering complex automations. Clients have the choice of where it all runs: on-premises, or in a private, public, or sovereign cloud depending on their security, data, and deployment requirements.

“Data is not the supporting act; it is what gives agentic AI the context it needs to perform,” said Ayman Antoun, Chief Executive Officer, OpenText. “OpenText brings the data and context layer, while Cohere brings the orchestration and models that turn that data into agentic AI that acts with purpose. Together, we give clients what they need to build the agentic enterprise.”

Expected to reach clients in early 2027, the OpenText and Cohere agentic solution is purpose built for governments and organizations in highly regulated sectors, where AI agents must reason over trusted data and act across systems without sacrificing control over data location, security, or deployment. OpenText’s data and context layer already runs inside the world’s top 20 federal governments, along with healthcare systems, financial institutions, insurers, and global supply chains, through its Content, Business Network, IT Operations Management (ITOM), and Cybersecurity solutions.

“Enterprises and governments need AI that can work with their most important data while keeping them in control of where that data lives and how it is used,” said Aidan Gomez, Co-founder and CEO of Cohere. “By bringing North and our models together with OpenText’s trusted data and context, we’re giving organizations a secure path to move agentic AI from pilot to production and put it to work across the systems and workflows their teams rely on every day.”

OpenText brings clients a world-class ecosystem of partners that together deliver the full AI stack they need to deploy agentic AI. The OpenText and Cohere partnership will include product development, integration of Cohere’s agentic platform and models into OpenText Aviator AI agents, coordinated go-to-market execution, and a strategic reseller relationship through SOLEX, enabling OpenText to offer Cohere-supported solutions both on-premises and through OpenText Cloud.

Two Canadian AI Leaders With Global Reach

OpenText was founded in Canada in 1991 and serves more than 120,000 enterprise clients in 180 countries. Cohere was founded in Toronto in 2019 and is the world’s leading sovereign AI company building cutting-edge foundation models and end-to-end AI products for enterprise and public sector organizations. Together, the companies extend a common foundation in trust and security to regulated markets worldwide, where deployment choice and control over data matter most.

About OpenText

OpenText™ is a global leader in data management for enterprise AI, helping organizations protect, govern, and activate their data with confidence. Our technologies turn data into information with context to form the knowledge base for enterprise AI. Learn more at www.opentext.com.

About Cohere

Cohere, founded in 2019, is the world’s leading sovereign AI company building foundations models and end-to-end AI products to solve real-world business problems. Cohere partners with organizations to deliver seamless integration, customization and user-friendly solutions. Its all-in-one platform provides maximum security, privacy and deployment flexibility across clouds, private environments and on-premises. Headquartered in Toronto and San Francisco, Cohere operates additional offices in London, New York, Montreal, Paris, and Seoul, serving customers worldwide. The company has raised ~1.6 billion USD from strategic investors (AMD Ventures, Salesforce Ventures, Oracle, Cisco), institutional investors (Radical Ventures, Inovia Capital, PSP Investments, HOOPP, BDC, Nexxus), and AI pioneers including Geoffrey Hinton, Fei-Fei Li, Pieter Abbeel, and Raquel Urtsaun. For more information, visit Cohere.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws, including statements about Open Text Corporation (“OpenText” or the “Company”) regarding the anticipated benefits of the partnership between OpenText and Cohere, product development, and integration of Cohere’s North platform and models into OpenText’s enterprise AI Aviator portfolio, coordinated go-to-market activities, and the expected timing and availability of integrated capabilities.

These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company’s or our CEO’s blog, X, formerly known as Twitter, account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

OTEX-G

 

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SOURCE Open Text Corporation

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New BaaS Platform Bolt by Reseda Group Launches with First Fintech Partner TAPP Engine

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New platform signs TAPP Engine as first fintech leveraging Bolt to accelerate delivery of cash management solutions directly to MSUFCU as the Financial Institution of Record

EAST LANSING, Mich., Sept. 16, 2026 /PRNewswire/ — Reseda Group today announced the launch of Bolt by Reseda Group, a Banking-as-a-Service (BaaS) platform that enables financial institutions and fintech companies to bring innovative financial solutions to market faster through a secure, API and SDK-driven banking infrastructure with MSU Federal Credit Union (MSUFCU), as the Financial Institution of Record (FIoR). The platform’s first fintech partner, TAPP Engine, is leveraging Bolt to seamlessly connect its cash management solutions directly to MSUFCU as the FIoR, delivering fully branded, modern, embedded banking experiences to their customers.

Bolt delivers the infrastructure fintechs and financial institutions need to launch and scale new products while maintaining the trust, compliance, and security consumers expect. Through a comprehensive suite of APIs, SDKs (Software Development Kit), and software solutions, the platform supports modern digital banking experiences, including account opening, payments and money movement, debit card issuance, external account connectivity, and embedded finance capabilities.

Developed by Reseda Group and informed by the proven innovation experience of MSU Federal Credit Union (MSUFCU), Bolt combines the agility of modern BaaS infrastructure with the real-world expertise of a financial institution that has successfully built and deployed fintech solutions. The result is a secure, scalable platform that empowers fintechs and financial institutions to innovate together, accelerate time to market, and deliver new financial experiences to consumers with confidence.

“Speed to market is essential for both financial institutions and fintech innovators looking to meet evolving consumer expectations,” said Ben Maxim, Chief Operating Officer at Reseda Group and Chief Technology Officer at MSUFCU. “Bolt by Reseda Group was built to remove the barriers that often slow innovation by creating a secure, seamless bridge between fintech innovators and trusted financial institutions. With APIs, flexible integration options, and comprehensive banking infrastructure, we’re helping organizations bring new solutions and enhanced experiences to people today, not years from now.”

Bolt enables financial institutions to accelerate fintech partnerships, expand digital banking capabilities, introduce new deposit experiences, and power embedded finance solutions. For fintech companies, the platform provides the flexibility to focus on building transformative experiences without navigating the regulatory and operational complexities of becoming a licensed financial institution.

Through a governed framework, Bolt works with specific vendor partners to securely support Know Your Customer/Know Your Business (KYC/KYB) processes before new account opening begins. Once accounts are established, MSUFCU provides ongoing account monitoring, compliance oversight and identification of unusual account activity to support continued risk management. This shared responsibility model allows fintechs to focus on their customer experience and what they do best.

With Bolt, fintechs and financial institutions gain access to:

Speed to market: Accelerate product launches through streamlined API/SDK connectivity and pre-built banking capabilities.Complete banking infrastructure: Access onboarding, account management, payments, debit card services, and digital banking functionality through a single platform.Secure innovation: Leverage infrastructure designed with compliance, security, and operational resilience in mind.Scalable growth: Adapt financial offerings as consumer and business needs evolve without redesigning entire systems.Simplified integration: Use modern APIs, SDKs, webhooks, and flexible development tools to accelerate implementation.

As Bolt’s first fintech client, TAPP Engine is leveraging the platform to connect its cash management tools directly to the financial institutions holding its clients’ deposits. Bolt enables TAPP Engine to deliver a fully white-labeled private banking experience, allowing each TAPP client to offer a branded, seamless way to manage cash while keeping deposits with trusted credit unions.

“Bolt gives TAPP Engine the critical infrastructure to connect our cash management tools directly to the institutions holding our clients’ deposits,” said Will Dolan, President of TAPP Engine. “Its BaaS platform allows us to deliver a fully white-labeled private banking experience, so every TAPP client can offer a branded, seamless way to manage cash. Because those deposits sit with credit unions, we’re able to pair a premium experience with the trust and community focus that sets this offering apart.”

The launch of Bolt builds on Reseda Group’s vision to strengthen connections between people and their financial institutions through next-generation solutions. By bringing the operational experience of MSUFCU together with the innovation and agility of fintech partners, Bolt creates new opportunities for financial institutions and technology companies to collaborate, expand access to financial services and deliver greater value to the people and businesses they serve.

For more information about Bolt by Reseda Group, visit resedagroup.com/bolt.

About Reseda Group
Headquartered in East Lansing, Michigan, Reseda Group is a wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU). Formed in 2021, Reseda Group changes the way people interact with their finances and how financial institutions engage with their consumers. By leveraging innovative products developed in-house and through its partnership ecosystem, Reseda Group is making financial technology and engagement solutions more accessible and approachable to the industry. Learn more at resedagroup.com.

About TAPP Engine
TAPP Engine modernizes capital formation, wealth management, and liquidity infrastructure for credit unions, community financial institutions, and regional financial institutions. Brokerage services are offered through TAPP Engine Securities, LLC. (“TES”). Digital Advisory services and technology offered through TAPP Engine Advisors, LLC (“TEA). Visit tappengine.com to learn more.

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SOURCE Reseda Group

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Ember Launches Mug 3, its Third-Generation Flagship Smart Mug

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Ember’s newest smart mug adds on-mug temperature control, dishwasher-safe design, and an included lid for extended battery life, helping customers elevate the everyday coffee and tea ritual

WESTLAKE VILLAGE, Calif., Sept. 16, 2026 /PRNewswire/ — Ember Technologies, the global leader in temperature-controlled drinkware, launched Ember Mug 3 today, the third generation of its flagship mug. Building on more than 10 years of market leadership, Mug 3 introduces several of the most requested improvements from Ember customers. For the first time, users can adjust their drinking temperature directly from the mug without opening the Ember app. Mug 3 is also top-rack dishwasher-safe, making cleaning it easier than ever, and every mug now includes a sipping lid that extends the battery life. 

“Ember has leveraged new technology and innovation to make the new Mug 3 easier and more natural to use, all while maintaining its award-winning design,” said Matt Murray, CEO of Ember. “We listened to our user feedback when developing the new mug, and are excited to share it with the Ember community. If you are an existing Ember user, we think you will be delighted with the new features, and if you are a first-time user, we are excited to change the way you drink your coffee or tea every day.”

With the introduction of Mug 3, users can now set the temperature either on the mug itself or using the accompanying Ember app. Owners press the power button at the bottom of the mug to cycle through five temperature settings in preset five-degree increments, from 125 to 145 degrees Fahrenheit. The on-board temperature seamlessly syncs with the Ember app.

Ember improved the materials and manufacturing process for Mug 3 to make it top-rack dishwasher-safe while maintaining the same stainless steel and an FDA-compliant, ceramic-reinforced exterior and interior coating as previous Ember mugs. Caring for your Ember mug is now easier than ever.

Additionally, every Mug 3 now includes a sliding lid to help prevent spilling and keep a drink at its ideal temperature for up to three hours on a single charge, giving users even more time to savor their coffee and tea. 

The Mug 3 ships in 10-ounce and 14-ounce sizes. The 10-ounce is available for $129 USD in black, white, and a new stainless model, while the 14-ounce is $149 USD and has eight color options: black, sage green, lavender, powder blue, salt blue, sandstone, white, and matcha green.

Ember Mug 3 is now available for purchase at ember.com and will be sold at Target, both online and in-store starting September 27. In October, it will also be available on Amazon.

About Ember Technologies
Ember Technologies is a global design-led temperature control brand and technology platform whose mission is to revolutionize the way people eat, drink, and live. Ember Technologies creates, designs, and develops temperature control products that offer people complete customization. The award-winning Ember Travel Mug and Ember Mug are the most advanced coffee mugs on the market, allowing individuals to set and maintain their preferred drinking temperature for hot beverages. For more information, visit ember.com and connect with us on Instagram, Facebook, and TikTok

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SOURCE Ember Technologies, Inc.

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