RTLS Market: Safety and security concerns in healthcare facilities

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MarketsandMarkets Presents

RTLS Market Safety and security concerns in
healthcare facilities RTLS Market for Healthcare
by Facility Type (Hospitals Healthcare
Facilities, Senior Living), Offering (Hardware,
Software, Services), Technology (RFID, Wi-Fi,
BLE, UWB, IR, Ultrasound), Application/Use case,
and Geography - Global Forecast to
2023 https//www.marketsandmarkets.com/Market-Rep
orts/rtls-healthcare-market-19089515.html
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The RTLS market for healthcare is estimated to
grow from USD 1,271.2 million in 2018 to USD
2,941.2 million by 2023, at a CAGR of 18.3
during the forecast period (20182023). The
increased market competitiveness with the
emergence of startups providing innovative and
customized RTLS solutions based on newer
technologies is one of the major factors fueling
the growth of the RTLS market. The safety and
security concerns in healthcare facilities and
high return on investment are the other factors
driving the growth of the market. The need for
resource utilization and workflow optimization,
development of hybrid RTLS solutions, and use of
IoT technology in healthcare are likely to pose
major opportunities to the players in the market
during the forecast period. Browse 65 market
data Tables and 68 Figures spread through 183
Pages and in-depth TOC on "RTLS Market for
Healthcare - Global Forecast to 2023"
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The hardware segment accounted for largest share
of the RTLS market for healthcare in 2017. The
market share of the hardware segment is expected
to decrease during the forecast period mainly
because of the falling ASPs of tags and readers
as the technology further matures. Although the
price of hardware components of RTLS solutions is
expected to decrease in the near future, the
required volume of these hardware components
would increase. Ask PDF Brochure https//www.mar
ketsandmarkets.com/pdfdownloadNew.asp?id19089515
Hospitals and healthcare facilities are likely
to continue to dominate the RTLS market for
healthcare during the forecast period by
accounting for a larger market share. Hospitals
in the US and European countries have a high
demand for RTLS solutions for enhancing their
operations, optimizing resource utilization, and
increasing profitability. RTLS solutions provide
real-time information about the location of
people and assets, which helps healthcare
organizations in making faster decisions and
improving their operational processes.
Additionally, the rapid growth in IoT in the
healthcare industry has led to the increased
adoption of RTLS, thereby accelerating the growth
of the market.
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The market for UWB technology-based RTLS
solutions is expected to grow at the highest CAGR
during the forecast period. The high precision
and accuracy offered by UWB technology for
tracking objects will be the major factor to
drive the growth of the market for UWB
technology-based RTLS solutions. The increasing
adoption of UWB in the RTLS market for healthcare
is primarily due to the advantages offered by
solutions based on this technology, such as high
precision, long battery life, high capacity, and
fast update rates. Request Free Sample
Pages https//www.marketsandmarkets.com/requestsa
mpleNew.asp?id19089515 North America accounted
for the largest share of the RTLS market for
healthcare in 2017. North America is one of the
largest contributors to the market owing to the
presence of a large number of healthcare
facilities in the region, especially in the US.
The rapid adoption of RTLS solutions for several
applications in the healthcare sector is also one
of the major reasons for North America to capture
the largest share of the RTLS market for
healthcare.
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The major challenge faced by RTLS vendors in the
healthcare sector is designing RTLS solutions
satisfying high accuracy, high range, and low
power consumption requirements. System
incompatibility and lack of uniform standards and
interoperability is also another major challenge
the market players are facing. Factors
restraining the market growth include concerns
regarding data security and privacy,
unsatisfactory results and negative feedback from
RTLS end users, and the high cost of acquisition
and maintenance. STANLEY Healthcare (US), Zebra
Technologies Corporation (US), Aruba Networks
(US), IMPINJ (US), TeleTracking Technologies
(US), CenTrak (US), AiRISTA Flow (US), Sonitor
Technologies (Norway), Versus Technology (US),
and Identec Group (Liechtenstein) are the major
players in the RTLS market for healthcare. A few
key innovators considered in the RTLS market for
healthcare are DecaWave (Ireland), Redpine
Signals (US), Sanitag (Turkey), Mojix (US), and
Intelligent InSites (US), while Cerner
Corporation (US), GE Healthcare (US), Secure Care
Products (US), Borda Technology (Turkey), Cetani
Corp. (US) are a few other prominent players in
the market.
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