The RTLS market for healthcare was valued at USD 580.1 Million in 2015 and is expected to reach USD 3,123.7 Million by 2022, at a CAGR of 23.6% during the forecast period.
The growth of this market is being propelled by the growing demand for RTLS especially from the hospitals and health facilities for various applications including asset tracking and management, staff tracking, patient tracking, and clinical operations and workflow, among others.
The report covers the RTLS market for healthcare on the basis of facility type, offering, technology, application, and geography. The RTLS market for healthcare is expected to be led by hospital and health facilities segment during the forecast period. The growth of this market is being propelled by the high demand for RTLS from the hospitals for enhancing their operations, optimizing resource utilization, and increasing their profitability.
The hardware segment dominated the RTLS market for healthcare. One of the major factors accelerating the growth of this segment is the decrease in price of RTLS-related hardware, especially of tags and badges, due to technological advancements and rise in demand.
Asset tracking and management application accounted for the largest share of the overall RTLS market for healthcare. Using RTLS for tracking assets helps the healthcare organizations to maintain optimum level of inventory, locate the critical equipment and devices with ease, and increase security level of assets.
The BLE-based RTLS for healthcare and UWB-based RTLS for healthcare are expected to witness significant growth in the RTLS market for healthcare during the forecast period. The high precision and accuracy offered by UWB technology for tracking objects is driving the growth of UWB-based RTLS market for healthcare, while the low power consumption feature of BLE is the driving factor for the BLE-based RTLS market for healthcare.
North America held the largest size of the RTLS market for healthcare in 2015. The leading position of North America can be attributed to the high demand for RTLS in this region due to the presence of a large number of hospitals, health facilities, and senior living facilities.
- Increasing Concern for Safety and Security
- Improved Resource Utilization and Workflow Optimization Using RTLS
- Decrease in Cost of RTLS Hardware and Software
- Increasing Government Investments
- Intercompatibility and Interoperability Issues and Lack of Uniform Standards
- High Cost of Installation and Maintenance
- Concerns Regarding Data Security & Privacy
- Large Untapped Market
- Growing Demand From APAC Region
- Complicated Trade-Off Between Accuracy, Range, and Power Consumption
- Airista, LLC
- Awarepoint Corporation
- Bespoon Sas.
- Centrak, Inc.
- Cetani Corporation
- Sonitor Technologies, Inc
- Stanley Healthcare
- Teletracking Technologies, Inc.
- Versus Technology, Inc.
- Zebra Technologies Corporation
For more information about this report visit http://www.researchandmarkets.com/research/qgc864/rtls_market_for
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SOURCE Research and Markets