Real-Time Location Systems (RTLS) Market to grow by USD 13.83 billion from 2022 to 2027, Growth Driven by the growing use of RTLS tags in the healthcare sector- Technavio

NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The "real-time location systems (RTLS) market by application (healthcare, transportation, and logistics, retail, government, and others), solution (systems and tags), and geography (North America, Europe, APAC, South America, and the Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the real-time location systems (RTLS) market from 2022 to 2027 is USD 13.83 billion, according to Technavio. The growing use of RTLS tags in the healthcare sector is a key factor driving market growth. Many hospitals are implementing RTLS tags to improve healthcare operations and profitability. RFID tags have many applications. RTLS is used to quickly find devices such as wheelchairs, ventilators, oxygen tanks, hospital beds, and infusion pumps in asset management. Additionally, hospitals use RTLS tags to observe sensitive equipment, violent patients, and hospital staff, including doctors and nurses. They also keep track of surgical instruments and other reusable medical devices with an RTLS solution that automates aseptic handling. This process includes cleaning, sterilizing; and distributing medical equipment, surgical and dental instruments, and essential supplies. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The lack of well-defined RTLS technology standards is a significant challenge restricting market growth.

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The real-time location systems (RTLS) market has been segmented by application (healthcare, transportation, logistics, retail, government, and others), solution (systems and tags), and geography (North America, Europe, APAC, South America, and the Middle East and Africa)

• The market share growth by the healthcare segment will be significant during the forecast period. There has been a significant increase in patient monitoring and asset tracking in hospitals due to benefits such as low cost and real-time tracking provided by RTLS, ensuring patient and asset safety. RTLS solutions are mainly used in hospitals to improve operational efficiency and reduce asset monitoring costs. For example, Stanley Healthcare has integrated Tableau Software's visual data analytics software with Wi-Fi RTLS. Additionally, the system allows hospitals to monitor infusion pump levels so they can be refilled. Hence, these factors are expected to drive segment growth during the forecast period.

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Key Companies in the real-time location systems (RTLS) market:

AiRISTA Flow Inc., Alien Technology LLC, General Electric Co., Halma Plc, Identec Group AG, Impinj Inc., Inpixon, Leantegra Inc., Litum Technologies Inc., Mojix Inc., Oracle Corp., Qorvo Inc., Savi Technology Inc., Securitas AB, Silicon Laboratories Inc., Sonitor Technologies AS, TeleTracking Technologies Inc., Tracktio Group SL, Ubisense Ltd., and Zebra Technologies Corp.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Solution

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio