The report "RTLS Market for Healthcare by Hardware (Tags/Badges, Readers/Trackers), Technology (RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, GPS, Zigbee), Application (Inventory/Asset Tracking, Personnel Monitoring), Facility Type, Region - Global Forecast to 2028" The global RTLS market for healthcare market is projected to grow from USD 2.0 billion in 2023 to USD 5.8 billion by 2028, at a CAGR of 23.5% during the forecast period. RTLS solutions are being increasingly deployed in supply chain operations to save time and minimize errors while improving the inventory turnover ratio, thereby saving costs and increasing return on investment (RoI). RTLS solutions do not just track assets and personnel, but they also enable healthcare facilities to manage their assets to boost productivity by analyzing the data captured and forecasting any potential errors.
Browse 162 market data Tables and 62 Figures spread through 224 Pages and in-depth TOC on "RTLS Market for Healthcare by Hardware (Tags/Badges, Readers/Trackers), Technology (RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, GPS, Zigbee), Application (Inventory/Asset Tracking, Personnel Monitoring), Facility Type, Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/rtls-healthcare-market-19089515.html
The market for software segment is expected to grow at a significant CAGR during the forecast period.
RTLS software possess various capabilities such as location tracking or asset tracking, analytics, and the ability to manipulate data or reporting, which allows the examination of specific pieces of location or data, alerting, and non-location sensor information. 2 types of software are provided—standalone software and full-stack RTLS solution. A large number of companies use standalone asset tracking software, whereas the demand for full-stack RTLS solution is also increasing gradually. Technological advancements in the field of information technology have led to customized software platforms based to meet specific requirements of clients. Moreover, the penetration of system applications and products (SAP) and enterprise resource planning (ERP) software for the data processing application in RTLS solutions helps in building a strong platform.
Personnel locating & monitoring is one of the key applications of RTLS solutions and it is anticipated to grow at a significant CAGR.
Personnel locating & monitoring is one of the most crucial needs for healthcare facilities to ensure smooth operations and safety of its staff and patients. Many hospitals are focusing on maximizing resource utilization and reducing costs by eliminating manual, time-consuming workforce management processes. An RTLS ensures that each department or specialty is appropriately staffed, providing patients with the highest quality and most timely care. RTLS platforms are increasingly being used in hospitals to monitor the workflow on the operational floor. Keeping track of people/patients/staff inside a predetermined area is the main concern of many organizations. In healthcare, keeping track of personnel can provide valuable information to the organization. This might help organizations to make split-second decisions, protecting staff and averting disasters. For this purpose, various gadgets such as tags/badges and gateways are being used.
North America region is anticipated to dominate the RTLS market for healthcare during the forecast period.
The RTLS market for healthcare in North America has been segmented into the US, Canada, and Mexico. In North America, US is the largest contributor to the market growth and it is expected to hold the largest share during forecast period. The presence of prominent RTLS vendors in the US is one of the key factors driving the market growth during the forecast period. Securitas Healthcare, LLC (US), Zebra Technologies Corporation (US), Aruba Networks (US), Impinj, Inc. (US), CenTrak, Inc. (US), and TeleTracking Technologies, Inc. (US) are some of the dominant players in the RTLS market for healthcare in the US. These market players are continuously focusing on increasing their market share and strengthen their market position by adoption strategies such as acquisitions, partnerships etc. Additionally, 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 advanced UWB technology-based RTLS solutions in North America in the next few years.
The key players in this market include Securitas Healthcare, LLC (US), Zebra Technologies Corporation (US), Aruba Networks (US), Impinj, Inc. (US), Savi Technology (US), TeleTracking Technologies, Inc. (US), CenTrak, Inc. (US), Advantech Co., Ltd. (Taiwan), and GE HealthCare Technologies Inc. (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441