An overview of the global RTLS market in the healthcare industry
Technavio’s market research analyst expects the global RTLS market in the healthcare industry to witness a tremendous growth during the forecast period, posting a CAGR of more than 56%. RTLS or real-time location system solutions provide a high degree of intelligence in locating assets as people that brings real-time data to the decision-makers, which leads to process improvement and faster decision making. As a result, the demand for RTLS solutions is expected to increase significantly.
A large number of hospitals are deploying RTLS tags to enhance its operations and increase profitability, which is one major driver contributing to the growth of the market. RFID tags provide a wide variety of applications such as asset management, for quickly locating equipment such as hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps. Also, they make use of RTLS tags for monitoring of sensitive equipment's, violent patients, and hospital staffs, including doctors and nurses. Therefore, there is an enormous growth opportunity for the global RTLS market in the healthcare industry.
Application segmentation and analysis of the global RTLS market in the healthcare industry
• Asset monitoring
• Patient safety
• Employee management
• Clinical monitoring
As of 2015, the asset monitoring segment dominated the global RTLS market in the healthcare industry, and this segment will continue to lead the market till 2020. The growth of the asset monitoring segment is largely attributed to the increasing deployment of RTLS solutions and increasing penetration of Wi-Fi and WLAN's in hospitals.
Geographical segmentation of the global RTLS market in the healthcare industry
With a significant market share of 62%, the Americas dominated the global RTLS market in the healthcare industry in 2015, followed by the EMEA, and the APAC region. Some of the major RTLS providers in hospitals in the Americas are Ekahau, Zebra, and Aeroscout.
Competitive landscape and key vendors
The present competitive environment of the RTLS market in the healthcare industry is expected to intensify following an increase in R&D and M&A during the forecast period. The market is also likely to witness the trend of territorial acquisitions by leading global players. Also, the key players in the market are expected to diversify their geographical presence with a focus on the APAC region during the forecast period.
The top vendors in the market include -
• Zebra Technologies
The other prominent vendors of the market include Axcess International, Awarepoint, BeSpoon, Borda Technology, Centrak, DecaWave, Elpas (Tyco Security Products), Emanate Wireless, GE Healthcare, IBM, Intelligent Insites, Identec Solutions, Plus Location Systems, Purelink, Radianse, RF Technologies, Sonitor Technologies, Sewio, TagSense, Teletracking Technologies, ThingMagic, and Versus Technology.
Key questions answered in the report
• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global RTLS market in the healthcare industry?
• What are the key market trends impacting the growth of the global RTLS market in the healthcare industry?
• What are the challenges to market growth?
• Who are the key vendors in the global RTLS market in the healthcare industry?
• What are the market opportunities and threats faced by the vendors in the global RTLS market in the healthcare industry?
• What are the trending factors influencing the market shares of the Americas, EMEA, and APAC?
• What are the key outcomes of the five forces analysis of the global RTLS market in the healthcare industry?
Technavio also offers customization on reports based on specific client requirement.
• Global Real-time Location System (RTLS) market 2015-2019
• RTLS Market in North America 2015-2019