Real-time location systems (RTLS) are also known as local positioning and tracking systems primarily used to automatically identify and locate the exact position of objects/people/targets in real-time for diverse environments and industries. The RTLS market for healthcare is expected to grow from USD 1.4 billion in 2020 to USD 3.9 billion by 2025; it is expected to grow at a CAGR of 23.0% during the forecast period. Hospitals and healthcare facilities are the key segments, which dominate the RTLS market for healthcare and also contribute significantly to its growth.
Major players in the RTLS market for healthcare have primarily adopted product launch strategies to strengthen their position in the market.
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Stanley Black & Decker (US) and Zebra Technologies (US) are among the major players in the RTLS market for healthcare. Stanley Black & Decker is a prominent company in the RTLS market for healthcare with a strong and well-known RTLS product portfolio. In Feb 2020, STANLEY Healthcare was named the KLAS Category Leader for Real-Time Location Systems (RTLS) in the 2020 Best in KLAS: Software and Services report. With this, the company’s MobileView platform for its AeroScout solutions won the leading position 6 times over the 9-year history of the RTLS category. STANLEY Healthcare also has a wide customer base comprising of over 15,000 healthcare organizations. Partnership and product launch are the 2 key strategies adopted by the company to grow in the RTLS market for healthcare. The company is financially strong owing to the support from its parent company—one of the top RTLS solution providers in the healthcare industry.
Zebra Technologies is another well-known player in the RTLS market for healthcare. The company offers customized RTLS solutions, which enables strong customer satisfaction. The RTLS solutions offered by the company help to gain real-time visibility that allows organizations to manage their assets and employees efficiently and achieve enhanced productivity and operational efficiency. The company has been mainly focusing on product development as a method to grow in the RTLS market for healthcare. Besides product launch, it has also adopted inorganic approaches, such as partnerships and acquisitions, to grow in the RTLS market for healthcare. The company has received considerable recognition for its work in the RTLS market for healthcare. Furthermore, a wide geographic presence provides a competitive advantage to the company.
Real-Time Location Systems Market (RTLS) for healthcare with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE, IR, Ultrasound, Others), Facility Type, Application, Geography - Global Forecast to 2025
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