RTLS Market for Healthcare by Hardware (Tags/Badges, Readers/Trackers), Technology (RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, Zigbee, Rubee), Application (Inventory/Asset Tracking, Personnel Monitoring), Facility Type, Region - Global Forecast to 2029
Updated on : September 19, 2024
RTLS Market for Healthcare Size
[239 Pages Report] The global RTLS market for healthcare size is expected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a CAGR of 19.6% from 2024 to 2029. RTLS solutions are increasingly being used in supply chain operations to save time and reduce errors, improving the inventory turnover ratio that saves costs and increases return on investment. RTLS solutions track assets and personnel but also manage enterprise assets, which enables higher productivity by analyzing data captured and provides forecasting for any potential error. There are many big data analytics and RTLS companies that deal with enterprises by providing more Rol and helping them manage their assets and staff in a much better way.
The use of AI in RTLS solutions could revolutionize the healthcare industry by optimizing patient care, staff safety, and operational efficiency. AI-powered predictive analytics allow RTLS data to forecast patient flow, manage resources effectively, and anticipate equipment maintenance needs, thus improving overall hospital management. Combining RTLS with medical wearable technology facilitates continuous monitoring of patient vitals, enabling proactive interventions for patients with chronic conditions and enhancing personalized care. Moreover, AI-driven analysis of patient movement data optimizes surgical outcomes by refining protocols and ensuring efficient patient flow from preoperative preparation to postoperative care.
RTLS Market for Healthcare Forecast to 2029
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RTLS Market for Healthcare Market Trends & Dynamics
DRIVERS: Rising adoption of UWB technology-based RTLS solutions due to accuracy
In recent years, UWB technology-based RTLS solutions have witnessed a rise in penetration in the RTLS market for healthcare. The ability of the UWB technology to provide highly accurate positioning data of a person/object is the main driver for the UWB technology-based RTLS market for healthcare. UWB offers higher accuracy and range with lower power consumption in comparison with most other RTLS technologies. This has led to its high penetration in applications requiring high accuracy. In recent years, several end users of RTLS technology have shifted from other technology-based RTLS solutions, such as RFID and Wi-Fi, to UWB technology-based RTLS solutions for improving efficiency, shortening lead times, and decreasing costs.
RESTRAINTS: Threat of cyberattacks, data security and privacy issues
Data security and privacy are among the major issues faced by personnel/staff in various industries, particularly in the healthcare domain. The threat of cyberattacks in healthcare has never been more prevalent and is a major issue for every organization looking to establish an RTLS entry point into their network and systems. Real-time location tracking systems are revolutionizing various industries where the efficient utilization of resources is critical. RTLS provides the whereabouts of individuals at any time and also offers the visibility required to keep people safe. However, union members in diverse industries complain that an RTLS solution can be used to monitor specific employees unfairly, that is, their break time and working hours. In other cases, people are worried about losing their freedom.
OPPORTUNITIES: Growing need for efficient operations and optimum utilization of existing resources
Several healthcare organizations have faced resource utilization as a significant challenge while increasing their output regarding workflow optimization, production, tracking and monitoring of assets, and reducing costs. RTLS addresses these challenges by effectively tracking and monitoring the assets and personnel. Efficient operations and optimum utilization of existing resources help enterprises to save costs and increase profits. The installation of an RTLS allows an enterprise to utilize resources efficiently and reduce inventory and stock management costs by tracking and managing assets in real-time.
CHALLENGES: Trade-off issue in RTLS solutions designing
Various RTLS solution providers offer different technologies for different applications. These solutions offer various technological advantages, such as high range, low power, and high accuracy. However, RTLS solution providers face the challenge of providing one solution with all benefits. RTLS comprises hardware and software, which are used to continuously track and deliver the real-time location of assets and resources. Tags, readers, or sensors are used to instantly track and monitor assets, people, or any resource of value with very high accuracy and mobility anywhere in the area covered by the network. However, RTLS tags face challenges because of a complicated trade-off between accuracy, power consumption, and range. Narrowband tags do not provide the accuracy required by some applications, while wideband tags provide accuracy but offer a limited capacity; additionally, some wideband tags are large and consume more power.
Rtls Market For Healthcare Ecosystem
Prominent companies in this market include well-established, financially stable RTLS providers such as Securitas Healthcare LLC (US), Zebra Technologies Corp. (US), HPE Aruba Networking (US), Impinj, Inc. (US), and TeleTracking Technologies, Inc. (US). These companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks. Along with the well-established companies, there are a large number of small and medium companies operating in this market, such as Pozyx (Belgium) and Navigine (US).
RTLS Market for Healthcare Share
Senior living facilities segment is expected to grow at highest CAGR during the forecast period.
Resident safety and comfort are the top priorities of senior living facilities. Many such facilities adopt RTLS to improve residents' experience and increase operational efficiency. RTLS, combined with wearable sensors or tags/badges, can assist with situations potentially harmful to patients/residents, such as patients wandering and entering unauthorized or sensitive areas. RTLS solutions help locate individuals who have wandered or entered unauthorized areas by immediately and accurately pinpointing their exact location. This provides institutions the confidence they need to discretely keep patients safe without compromising their freedom of movement. It is especially beneficial for those residents showing signs of dementia. RTLS solutions that are built on ultrasound indoor positioning technology that delivers precise and immediate location and event-based information for any tagged object or badged individual are mostly used in senior living facilities.
The market for inventory/asset tracking & management segment is projected to hold largest market share during the forecast period.
With increasing patient volume and expectations of experience and satisfaction, healthcare facilities are under greater pressure. They have to reduce the excess fat in the form of unnecessary steps in their workflow. Asset tracking and management activities thus have prime importance in various organizations. They make sure that the correct equipment or tools are available at the right time. It is particularly critical in the case of emergencies, especially in hospitals. Asset tracking and management is the major application in the healthcare sector as healthcare organizations are usually large and may have thousands of critically important assets, such as patient beds and specialized medical devices.
RTLS Market for Healthcare Regional Analysis
The market in North America is projected to hold the substantial market share in 2029.
RTLS Market for Healthcare by Region
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North America is currently leading the RTLS market for healthcare in terms of market size, and a similar trend is expected to continue during the forecast period, owing to the healthcare revolution in the region. The reason for the dominance of North America is its well-established economy, which allows for investments in new technologies. The rapid adoption of RTLS solutions for several applications is also contributing to the largest market share of North America in the RTLS market for healthcare. The declining ASPs of UWB tags and long-term high return on investment are expected to be the prominent reasons for the growing adoption of BLE- and UWB technology-based solutions in healthcare facilities in the next few years.
Top RTLS for healthcare Industry Companies - Key Market Manufacture :
- Securitas Healthcare LLC (US),
- Zebra Technologies Corp. (US),
- HPE Aruba Networking (US),
- Impinj, Inc. (US), and
- TeleTracking Technologies, Inc. (US) are among a few top players in the RTLS companies for Healthcare.
RTLS for healthcare Industry Report Scope :
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Report Metric |
Details |
| Estimated Market Size | USD 2.3 billion in 2024 |
| Projected Market Size | USD 5.7 billion by 2029 |
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Growth Rate
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CAGR of 19.6% |
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Market Size Available for Years |
2020–2029 |
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Base Year |
2023 |
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Forecast Period |
2024–2029 |
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Units |
Value (USD Million/Billion) |
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Segments Covered |
Offering, Technology, Facility Type, and Application |
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Geographic Regions Covered |
North America, Europe, Asia Pacific, and RoW |
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Companies Covered |
Major Players: Zebra Technologies Corp. (US), HPE Aruba Networking (US), Impinj, Inc. (US), GE HealthCare (US), TeleTracking Technologies, Inc. (US), Securitas Healthcare LLC (US), Savi Technology (US), AiRISTA (US), Advantech Co., Ltd. (Taiwan), Alien Technology, LLC (US), CenTrak, Inc. (US), and Others - (Total 25 players have been covered) |
RTLS Market for Healthcare Highlights
This research report categorizes the RTLS market for healthcare by offering, technology, facility type, application, and region.
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Segment |
Subsegment |
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By Offering: |
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By Technology: |
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By Application: |
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By Facility Type: |
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By Region |
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Recent Developments in RTLS Market for Healthcare
- In November 2023, Impinj, Inc. announced the launch of R720 RAIN RFID reader. It has more processing power and memory than Impinj’s prior-generation reader. It helps to meet the most demanding requirements of large-scale enterprise deployments.
- In November 2022, CenTrak, Inc. announced its new platform with exceptional management capabilities and an emergency call system. Moreover, the call system has passed the safety standards and requirements; hence, it was awarded UL certification.
- In July 2022, BE SWITCHCRAFT, one of the leading manufacturers of electrical switchboards, adopted Zebra's RFID solutions to gain real-time visibility of their manufacturing process to meet customer expectations.
Frequently Asked Questions:
What is the total CAGR expected to be recorded for the RTLS market for healthcare from 2024 to 2029?
The global RTLS market for healthcare market is expected to record a CAGR of 19.6% from 2024–2029.
What are the driving factors for the RTLS market for healthcare?
Rising adoption of UWB technology-based RTLS solutions due to accuracy and rising adoption of RTLS solutions owing to high RoI are some of the driving factors for the RTLS market for healthcare.
Which application will grow at a fast rate in the future?
Supply Chain Management & Automation is expected to grow at the highest CAGR during the forecast period.
Which are the significant players operating in the RTLS market for healthcare?
Securitas Healthcare LLC (US), Zebra Technologies Corp. (US), HPE Aruba Networking (US), Impinj, Inc. (US), and TeleTracking Technologies, Inc. (US) are among a few top players in the RTLS market for healthcare.
Which region will grow at a fast rate in the future?
The RTLS market for healthcare in Asia Pacific is expected to grow at the highest CAGR during the forecast period.
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The study involved four major activities in estimating the current size of the RTLS market for healthcare. Exhaustive secondary research has been done to collect information on the market, peer, and parent markets. The next step has been to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments. Two sources of information—secondary and primary—have been used to identify and collect information for an extensive technical and commercial study of the RTLS market for healthcare.
Secondary Research
Secondary sources include company websites, magazines, industry news, associations, and databases (Factiva and Bloomberg). These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.
Primary Research
Primary sources mainly consist of several experts from the core and related industries, along with preferred RTLS providers, distributors, alliances, standards, and certification organizations related to various segments of this industry’s value chain.
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from RTLS providers, such as Securitas Healthcare LLC (US), Zebra Technologies Corp. (US), HPE Aruba Networking (US), Impinj, Inc. (US), and TeleTracking Technologies, Inc. (US); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.
The breakdown of primary respondents is provided below.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the RTLS market for healthcare. These methods have also been used extensively to estimate the size of various subsegments in the market. The following research methodology has been used to estimate the market size:
- Major players in the industry and markets have been identified through extensive secondary research.
- The industry’s value chain and market size (in terms of value) have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Top-down Approach
In the top-down approach, the overall market size has been used to estimate the size of the individual market segments (mentioned in market segmentation) through percentage splits from secondary and primary research. For specific market segments, the size of the most appropriate immediate parent market has been used to implement the top-down approach. The bottom-up approach has also been implemented for data obtained from secondary research to validate the market size of various segments.
RTLS Market for Healthcare: Top-down Approach
Bottom-up Approach
The bottom-up approach has been used to arrive at the overall size of the RTLS market for healthcare from the revenues of the key players and their market shares. Calculations based on revenues of key companies identified in the market led to the estimation of their overall Industry size.
RTLS Market for Healthcare: Bottom-up Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall Industry engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Market Definition
Real-time location systems (RTLS) are local positioning and tracking systems used to locate and identify objects/people/targets automatically in real-time, usually for indoor applications such as within buildings or other contained areas. RTLS tags/badges/sensors attached to objects or worn by people communicate wirelessly with readers/trackers/access points installed in the vicinity. An RTLS solution may use different technologies for communication between tags and receivers, depending on the application/use case requirement. Various technologies, such as Radio-Frequency Identification (RFID), Wireless Fidelity (Wi-Fi), Ultrasound, Infrared, Ultra-Wideband (UWB), and Bluetooth Low Energy (BLE), are used for precise locating or tracking applications in real-time.
Key Stakeholders
- RTLS hardware providers
- RTLS software providers
- RTLS-related service providers
- RTLS-related associations, organizations, forums, and alliances
- OEM/ODMs, foundries, and semiconductor component suppliers
- RTLS distributors and sales firms
- RTLS end users
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Report Objectives
- To define and forecast the RTLS market for healthcare regarding offering, technology, facility type and application.
- To describe and forecast the RTLS market for healthcare and its value segments for four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective countries.
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micro-markets concerning individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the RTLS market for healthcare market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
- To strategically profile key players and comprehensively analyze their market position regarding ranking and core competencies, along with a detailed market competitive landscape.
- To analyze strategic approaches such as agreements, collaborations, and partnerships in the RTLS market for healthcare
- To provide an analysis of the recession impact on the growth of the market and its segments
Available Customizations
Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in RTLS Market
Many vendors in RTLS market are combining two or more technologies for making their RTLS system more efficient, for example BLE technology is being combined with Wi-Fi. I would like to in the report the RTLS hybrid technologies are covered under which segment?
We corporate with the Taiwan government “The New Southbound Policy”. So we are seeing if there have possible business opportunities in South Asia countries.Usually, we ask for help from the office of trade negotiations. They will give Taiwan local companies business information on the interesting areas.For the covid-19 pandemic, Avalue’s Renity RTLS solution is suitable for Hospital’s asset tracking and management. That’s why I am looking for “RTLS Market for Healthcare”. I am collecting all kinds of information about Healthcare solutions for South Asia countries.
The hospitals and healthcare facilities are the major demand generators for RTLS. I want to gets insights on this segment. Is the market sizing on hospitals by number of beds covered in the report?
Increased market competitiveness with the emergence of startups providing innovative and customized RTLS solutions based on newer technologies is a major factor fueling the growth of RTLS market for healthcare. We are also interested in entering in this market so would like to get information on the leading players. What parameters were used to rank the players?
RFID and Wi-Fi are the prominent technologies in the RTLS market for healthcare, while UWB and BLE are the emerging ones. We want to explore the market for UWB and BLE technologies and thus want to learn more about these technologies.
Senior living spaces are the emerging application area for RTLS systems. We want to understand opportunities which this segment holds. Let us know if the report includes data on senior living spaces by hardware, technology, and region.