RTLS for Healthcare Market Business Opportunity 2020 - Top Companies Sanitag, Zebra Technologies, Sonitor Technologies, Aruba

Real time location systems (RTLS) have become the foundation for applications that boost efficiency, productivity, and safety in every industry. RTLS helps employees to focus on activities that bring more value to the organization. It enables to locate and track assets accurately, and people allow processes to be optimized. In January 2019, Bluetooth Special Interest Group or SIG which handles Bluetooth announced the introduction of new Bluetooth 5.1. This new Bluetooth at the cost of other standards allows to extend new capabilities to asset tracking. It benefits from a present large ecosystem up to 8.2 billion Bluetooth devices worldwide, making it the most broadly adopted standard for short-range wireless communication. The low cost of the Bluetooth LE tags technology makes it applicable in settings where these advanced systems not have been otherwise feasible. Moreover, Wi-Fi RTLS technology is more accurate than proximity-based RTLS options as Wi-Fi RTLS uses time-of-flight measurements which have relatively wide bandwidth.

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The global RTLS for healthcare market is expected to reach US$ 6,384.45 Mn in 2027 from US$ 1,455.73 Mn in 2018. The market is estimated to grow with a CAGR of 18.6% from 2019-2027.

The major players operating in the RTLS for healthcare market include, CenTrak, Impinj, Inc., Intelligent InSites, Aruba (Hewlett Packard Enterprise Development LP), Midmark Corporation, Sanitag, Sonitor Technologies, Stanley Healthcare and Teletracking Technologies among the others.

For instance, in July 2018, Zebra Technologies Corporation, the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, announced two new healthcare barcode printing solutions that can identify patients and specimens at the point of care.

Global RTLS for healthcare market, based on the application, was segmented as, inventory and asset tracking, patient and staff tracking, access control and security, environment monitoring, supply chain management and operation automation and others. In 2018, inventory and asset tracking held the largest share of the market, by application. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The benefits such as RTLS can automate inventory control, and thus this reduces the physically managing inventory which are labor-intensive, costly, and time-consuming these factors are anticipated to lead to the growth of the segment during the forecast period.

From 2014 to 2017, six startups have been started across globe for providing RTLS. For instance, Pozyx Labs, the private company was founded in year 2015, Pozyx ultra-wideband (UWB) is the hardware/software RTLS solution which provides accurate positioning and motion information with sub-meter accuracy of 10 cm. There are many such startups in India, USA, Europe, and other regions who are helping this market to grow with huge competitions. Startups are making significant progress which offers a well-thought-out embedded location platform. UWINLOC is another new startup that designed a semi-passive UWB solution that can ultimately compete on price with passive RFID, also providing similar benefits to an active technology within energy harvesting. Thus, the high market competitiveness due to emerging startup are expected to propel the growth of the RTLS for healthcare market over the forecast years

The report segments the Global RTLS for healthcare Market as follows:

Global RTLS for healthcare Market – By Technology
RFID
Wi-Fi
Bluetooth
GPS
UWB
Others
Global RTLS for healthcare Market – By Facility Type
Hospitals and Healthcare Facilities
Senior Living Centres

Global RTLS for healthcare Market – By Application
Inventory and Asset Tracking
Patient and Staff Tracking
Access Control and Security
Environment Monitoring
Supply Chain Management and Operation Automation
Others

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Reason To Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the RTLS for healthcare market.

Highlights key business priorities in order to assist companies to realign their business strategies.

The key findings and recommendations highlight crucial progressive industry trends in the global RTLS for healthcare market, thereby allowing players across the value chain to develop effective long-term strategies.

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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