The RTLS market for healthcare is expected to grow at a CAGR of 23.6% between 2016 and 2022 to reach USD 3,123.7 million by 2022 from USD 580.1 million in 2015. Increasing demand for RTLS from senior living facilities is one of the major factors fueling the growth of this market. In addition to this, the rapid growth in IoT in the healthcare industry has also led to increase in adoption of RTLS, thereby further accelerating the growth of the RTLS market for healthcare. The major restraining factors for the growth of the RTLS market for healthcare are lack of uniform standards in the RTLS market and high cost of installation and maintenance.
"The growth of RTLS market for healthcare is expected to be driven by BLE and UWB technologies during the forecast period."
Bluetooth LE (BLE) and UWB technologies 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 and APAC are the major markets for RTLS in healthcare industry."
North America is expected to hold the largest size of the RTLS market for healthcare during the forecast period, while the market in APAC is expected to grow at the highest rate during the same period. China, Japan, Singapore, Australia, and India are some of the major countries driving the growth of the RTLS market for healthcare in APAC. A significant number of hospitals, health facilities, and senior living facilities using RTLS are located in North America and APAC. Besides this, the governments, especially in APAC, are making significant investments for the development of IoT industry. These are some of the major factors driving the growth of the RTLS market for healthcare in North America and APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the RTLS market for healthcare. The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 35 %, Tier 2 = 45%, and Tier 3 = 20%
- By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
The report also profiles the key players in the RTLS market for healthcare and analyzes their market ranking. The prominent players profiled in this report are Zebra Technologies Corporation (U.S.), STANLEY Healthcare (U.S.), TeleTracking Technologies, Inc. (U.S.), CenTrak, Inc. (U.S.), Versus Technologies, Inc. (U.S.), Awarepoint Corporation (U.S.), Sonitor Technologies, Inc. (U.S.), AiRISTA, LLC (U.S.), BeSpoon SAS. (France), and Cetani Corporation (U.S.).
This research report categorizes the RTLS market for healthcare on the basis of facility type, offering, technology, application, and geography. The report also provides the Porter's five forces analysis, along with a description of each of its forces and their respective impact on the RTLS market for healthcare; description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the RTLS market for healthcare comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market.
3. This report will help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section describes competitor ecosystem and various strategies implemented by the companies such as new product developments, partnerships, and mergers and acquisitions.
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