RTLS Market

RTLS Market for Healthcare Size, Share, Statistics and Industry Growth Analysis Report 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 Growth Driver and Industry Forecast to 2028

Report Code: SE 2568 Apr, 2023, by marketsandmarkets.com

The global RTLS market for healthcare share is predicted to grow from USD 2.0 billion in 2023 to USD 5.8 billion by 2028, at a CAGR of 23.5% during 2023 to 2028.

Healthcare is one of the largest adopters of RTLS solutions. Different wireless technologies, such as Radio-Frequency Identification (RFID), Wireless Fidelity (Wi-Fi), Ultrasound, Infrared (IR), Ultra-Wideband (UWB), and Bluetooth Low Energy (BLE), are being used in modern-day RTLS solutions, depending on the use case or application area. RTLS market players continuously strive to develop more robust and innovative solutions to stay ahead in the competition. As a result, ultra-wideband (UWB) and Bluetooth Low Energy (BLE) technologies have made a mark recently and are expected to witness exponential growth in the near future. Rapidly growing startups are providing various innovative solutions based on relatively new RTLS technologies such as UWB, BLE, ZigBee, and RuBee.

Attractive Opportunities in RTLS market for healthcare:

RTLS Market for Healthcare

RTLS Market for Healthcare

RTLS Market for Healthcare Forecast to 2028

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Market Dynamics

DRIVERS: Rising security and safety concerns of patients/staff

The safety and security of people and assets is the key concern of medical institutions, hospitals, and senior living facilities. Patient tracking, wander management, and access control are becoming some of the essential parameters to be trailed in the hospital environment. RTLS solutions help healthcare organizations increase the safety and security of its staff, patients, and assets by providing real-time information about their location. Advanced RTLS solutions are combined with security systems, such as access control systems and infant protection systems, thereby improving the overall security and protecting infants and patients by restricting unauthorized visitors to enter certain zones. Thus, RTLS solutions witness high demand from the healthcare sector to fulfill the requirement for patient safety and security of electronic health records and valuable assets owing to their capability to safeguard the facility, patients, and personnel.

RESTRAINTS: High installation and maintenance costs

The cost of an RTLS at the time of installation can be very high, ranging in millions depending on the size and type of healthcare facilities and the technology used. For instance, the installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems. The maintenance costs will also vary depending on the specific technologies, such as Wi-Fi, RFID, UWB, and BLE. Many RTLS companies are facing various issues in terms of deployment and technology, as many projects are failing because they require lots of engineering efforts and on-site preferences. In the case of RTLS, the company cannot just ship the hardware and ask the consumer to install—they need to assist customers on the site at the time of installation. The high price of an RTLS is because of the price of hardware, software, technology, infrastructure, wiring, and power. The infrastructure required to run RTLS systems smoothly is expensive, and the wiring, power, installation of RTLS components, etc., also add to the costs. Hence, the high costs involved with installing and maintaining RTLS systems may hamper the market growth during the forecast period .

OPPORTUNITIES: Increasing demand for RTLS solutions in developing countries

The market for RTLS in developing regions such as Asia Pacific, South America and Africa is estimated to grow rapidly owing to the rising customer awareness and huge untapped market opportunities, especially in healthcare, manufacturing, and retail sectors. The acceptance of RTLS solutions in healthcare markets in the Asia Pacific, especially across countries such as Australia, India, China, and other Asia Pacific countries, is growing significantly. The healthcare market in Asia Pacific has witnessed increased adoption of RTLS solutions with Wi-Fi technology as end users utilize the already present infrastructure to drive down installation costs for RTLS. The Asia Pacific healthcare markets are projected to be the significant growth areas for RTLS. The main driving factor would be the rising tide of healthcare-associated infections and increasing focus on developing healthcare infrastructure, which would lead to adopting RTLS solutions in the healthcare market

CHALLENGES: Trade-offs while designing RTLS solutions

RTLS solutions consist of various hardware components such as RTLS tags/badges/readers etc. These equipment are used across healthcare organizations to monitor and track assets, patients, and staff. These tags are supposed to meet some crucial parameters in terms of accuracy, performance, and power consumption, to meet specific customer requirements. However, any one solution can not fufill all the performance standards, and manufacturers need to make tradeoffs to meet requirements of specific applications such as asset tracking or personnel monitoring. For instance, narrowband tags may not offer highest accuracy whereas wideband tags may offer accuracy but lack in other aspects such as power consumption. Hence, it is difficult to develop one solution that could fulfill all requirements and such challenges in designing a perfect RTLS solution may act as a challenge for this market’s growth.

Services segment is expected to grow with the highest CAGR during the forecast period.

In RTLS market for healthcare, the services segment mainly comprises consulting, support and maintenance, and deployment and integration services necessary for the successful operation of an RTLS solution. These services help to deliver and implement solutions at customer sites and also look after the maintenance after the solution has been implemented. Services are a critical part of the overall RTLS implementation, which can affect the budget of an enterprise in a significant manner if ignored. The services segment is expected to witness the highest growth in the RTLS market for healthcare size, among other offerings. The cost of services includes installation and regular maintenance costs, which would result in higher expenditure. The demand for consulting services is likely to increase rapidly as consultation is the most critical parameter, which helps in deciding the type and scale of an RTLS solution required for the specific use case.

The market for UWB technology is projected to grow at highest CAGR during the forecast period.

In the RTLS market for healthcare, UWB is one of the most dynamic and fastest-growing technologies, and the UWB technology-based RTLS industry for healthcare has huge potential for growth during the forecast period. This technology functions similarly to active RFID, wherein the tag is continuously sending out RF energy into the environment for receivers to pick up. UWB-based RTLS solutions operate in a large bandwidth spectrum. In larger environments with many tags, receivers are placed at larger intervals with sub-receivers in between to improve accuracy. The signals from the tags are extremely short and obtain the unique ID of the tag. UWB is highly accurate on a room-level and zone-level basis and can calculate the location within a few centimeters due to its short, narrow transmissions. The increasing popularity of UWB is mainly due to advantages such as high precision, long battery life, high capacity, and fast update rates. These advantages of UWB solutions make them ideal for high-precision applications in healthcare organizations or facilities.

RTLS Market for Healthcare by Region

RTLS Market Statistics for Healthcare by Region

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The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.

Asia Pacific is one of the key future potential markets for RTLS solutions. The market in this region is expected to exhibit the highest CAGR during the forecast period. Asia Pacific is witnessing advancements in the healthcare sector as several healthcare facilities adopt newer technology-based products to improve their performance and automate certain processes. Japan is the early adopter of RTLS in this region and has witnessed the highest growth in the RTLS market for healthcare. Countries such as South Korea, China, and Australia are now expected to witness high growth in the RTLS market for healthcare. The growing healthcare sector of China is expected to be the driving factor for the development of the RTLS market for healthcare in China. The RTLS industry growth of the market is mainly driven by the adoption of Wi-Fi and RFID technology-based RTLS solutions for several applications, such as asset tracking, patient tracking, hand hygiene tracking, environmental monitoring, and vehicle tracking in hospitals and healthcare facilities.

Key Market Players

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), Ubisense Ltd. (UK), and GE HealthCare Technologies Inc. (US) are the RTLS companies for healthcare among the key players.

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Scope of the Report

Segment

Subsegment

Estimated Market Size USD 2.0 Billion
Projected Market Size USD 5.8 Billion
Growth Rate 23.5%

Market Size Available for Years

2019–2028

Base Year

2022

Forecast Period

2023–2028

Units

Value (USD Million/Billion)

Segments Covered

Offering, Technology, Application, and Facility Type

Geographic Regions Covered

North America, Asia Pacific, Europe, and RoW

Companies Covered

Major Players: 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), GE HealthCare Technologies Inc. (US), Ubisense Ltd. (UK), Alien Technology, LLC (US), Cerner Corporation (US), AiRISTA Flow, Inc. (US), Sonitor Technologies (US), and Midmark Corporation (US), and Others- (Total 28 players have been covered)

RTLS Market for Healthcare Highlights

This research report categorizes the RTLS market for healthcare by offering, technology, application, facility type and region.

Segment

Subsegment

By Offering:

  • Hardware
    • Tags/Badges
    • Readers/Trackers/Access Points
    • Other Hardware
  • Software
  • Services
    • Consulting
    • Support and Maintenance
    • Deployment and Integration

By Technology:

  • RFID
  • Wi-Fi
  • UWB
  • BLE
  • Infrared
  • Ultrasound
  • Other Technologies

By Application:

  • Inventory/Asset Tracking & Management
  • Personnel Locating & Monitoring
  • Access Control & Security
  • Environmental Monitoring
  • Supply Chain Management & Automation
  • Other Applications

By Facility Type:

  • Hospitals & Healthcare Facilities
  • Senior Living Facilities

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • Middle East
    • South America & Africa

Recent Developments

  • 30th Oct 2023, Enlighted has announced new AI capabilities for its Location Services RTLS solution, which now provides over 98% accuracy in tracking asset and personnel badge location. This solution is particularly useful in healthcare and manufacturing, where understanding the exact location of assets is essential. Enlighted has also partnered with Tagnos and Zan Compute to use its RTLS location data for patient care and asset tracking in hospitals and to guide necessary cleaning activity in smart buildings.
  • 16th Oct 2023, To comply with the new mandatory care minutes in Australia's aged care sector, real-time location systems (RTLS) and location-based services (LBS) have become essential. The new policy requires a minimum care minutes responsibility linked to a casemix-adjusted funding model, such as the Australian National Aged Care Classification (AN-ACC). The initial 200-minute daily care target has been mandated for all residential aged care facilities, with a plan to increase to a sector-wide average of 215 minutes daily (including 44 minutes of RN time) from October 1, 2024. RTLS and LBS solutions can automate and track care activities, ensuring the precise recording and reporting of care minutes, empowering operators to optimize staffing levels and allocate resources judiciously, thereby enhancing resident care and ensuring strict compliance with government mandates.
  • 18th Oct 2023, Rapyuta Robotics and Sumitomo Corporation of Americas have partnered to provide a combined PA-AMR and UWB RTLS solution for warehouses. This solution will improve item/SKU seeking time, picking accuracy, and safety in the workplace. UWB RTLS provides insights on the exact routes and stops taken by PA-AMRs, which can be used to improve processes further. The two companies will jointly exhibit their innovative technology solutions at the National Retail Federation conference and expo in January 2024.
  • 10th Oct 2023, Vizzia Technologies, a leading provider of RTLS for healthcare, has been selected by a nationally recognized health network to track thousands of specialty medical devices, monitor hand hygiene, and generate real-time data analytics to improve healthcare efficiencies and patient care.
  • 6th Sept 2023, Zebra Technologies has partnered with the Minnesota Vikings to apply its RFID tracking technology to capture player and ball data for each of the Vikings' practice sessions this season. The Zebra MotionWorks Sport system uses RFID tags to transmit real-time location system (RTLS) data to receivers positioned around stadiums and practice facilities, providing live outputs during procedures to track player progress and workloads in real-time. The technology captures metrics such as player speed, distance traveled per play, and ball orientation.
  • 11th August 2023, InnerSpace, a SaaS-based space utilization platform, raised $10M CAD in Series A funding to accelerate product development and scale operations. InnerSpace's proprietary Wi-Fi-based RTLS enables accurate data on how employees are using the office, such as how often they come, how long they stay, patterns of movement, and resources used. Real estate and workplace experience teams use this data to optimize team placement, meeting room needs, and overall square footage requirements.
  • 25th July 2023, CYBRA Corporation announced their RFID-based tracking solution for the health and sciences industry, highlighting its value for inventory control. Thermo Fisher uses CYBRA's Edgefinity IoT® RFID Solution to track the processing and transport of serum in quarantine, ensuring meticulous monitoring and rapid response to disruptions. Edgefinity IoT® is a platform for building integrated applications that locate and help protect people, assets, and vehicles using RFID, RTLS, and other sensor technologies. Thermo Fisher can now track the movement and status of inventory in real time, with all location data stored within Edgefinity IoT for audit purposes.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH APPROACH 
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 List of major secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary interviews with experts
                    2.1.3.2 Key data from primary sources
                    2.1.3.3 Key industry insights
                    2.1.3.4 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for deriving market size by bottom-up analysis
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for deriving market size by top-down analysis
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
    2.4 RESEARCH ASSUMPTIONS 
    2.5 APPROACHES TO UNDERSTAND RECESSION IMPACT ON RTLS MARKET FOR HEALTHCARE 
    2.6 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 44)
 
4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN RTLS MARKET FOR HEALTHCARE 
    4.2 RTLS MARKET FOR HEALTHCARE, BY OFFERING 
    4.3 RTLS MARKET FOR HEALTHCARE, BY TECHNOLOGY 
    4.4 RTLS MARKET FOR HEALTHCARE, BY APPLICATION 
    4.5 NORTH AMERICA RTLS MARKET FOR HEALTHCARE, BY TECHNOLOGY AND COUNTRY 
    4.6 RTLS MARKET FOR HEALTHCARE, BY COUNTRY 
 
5 MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
                    5.2.1.1 Rising market competitiveness driving the availability of cost-effective RTLS
                    5.2.1.2 High ROI with reduced capital expenditure
                    5.2.1.3 High accuracy of UWB-based RTLS solutions
                    5.2.1.4 Rising security and safety concerns of patients/staff
           5.2.2 RESTRAINTS
                    5.2.2.1 Data security and privacy issues
                    5.2.2.2 High installation and maintenance costs
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing need for efficient resource utilization and workflow optimization is driving the adoption of RTLS
                    5.2.3.2 Rising popularity of hybrid RTLS solutions
                    5.2.3.3 Growing adoption of IoT solutions in healthcare
                    5.2.3.4 Increasing demand of RTLS solutions in developing countries
           5.2.4 CHALLENGES
                    5.2.4.1 Trade-offs in designing RTLS solutions
                    5.2.4.2 Lack of system compatibility and common standards
    5.3 VALUE CHAIN ANALYSIS 
    5.4 ECOSYSTEM ANALYSIS 
    5.5 PRICING ANALYSIS 
           5.5.1 RTLS TAG PRICE COMPARISON, BY TECHNOLOGY
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 RTLS MARKET FOR HEALTHCARE: TECHNOLOGY COMPARISON
           5.7.2 HYBRID-RTLS TECHNOLOGY
    5.8 PORTER’S FIVE FORCES ANALYSIS 
    5.9 CASE STUDY ANALYSIS 
    5.10 TRADE ANALYSIS 
    5.11 PATENT ANALYSIS 
    5.12 KEY CONFERENCES AND EVENTS, 2023–2024 
    5.13 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 
           5.13.1 STANDARDS
 
6 RTLS MARKET FOR HEALTHCARE, BY OFFERING (Page No. - 78)
    6.1 INTRODUCTION 
    6.2 HARDWARE 
           6.2.1 GROWING DEMAND OF HYBRIS RTLS SOLUTIONS
           6.2.2 TAGS/BADGES
           6.2.3 RECEIVERS/READERS/TRACKERS/EXCITERS/ACCESS POINTS
           6.2.4 OTHER HARDWARE
    6.3 SOFTWARE 
           6.3.1 INCRAESING DEMAND OF CUSTOMIZED SOFTWARE PLATFORMS TO MEET CUSTOMER NEEDS
    6.4 SERVICES 
           6.4.1 CONSULTATION IS THE MOST CRITICAL PART OF RTLS SERVICES
           6.4.2 DEPLOYMENT AND INTEGRATION
           6.4.3 SUPPORT AND MAINTENANCE
           6.4.4 CONSULTING
 
7 RTLS MARKET FOR HEALTHCARE, BY TECHNOLOGY (Page No. - 92)
    7.1 INTRODUCTION 
    7.2 RFID 
           7.2.1 ADVANTAGES OF RFID OVER OTHER TECHNOLOGIES IS DRIVING THE ADOPTION
           7.2.2 ACTIVE RFID
           7.2.3 PASSIVE RFID
    7.3 WI-FI 
           7.3.1 EASY INSTALLATION AND COMPATIBILITY OF WI-FI RTLS SOLUTIONS
    7.4 UWB 
           7.4.1 HIGH PRECISION AND ACCURACY OFFERED BY UWB TECHNOLOGY
    7.5 BLE 
           7.5.1 ADDED ADAVANTAGES OF LOW POWER CONSUMPTION AND LONG-LIFE OVER BLUETOOTH TECHNOLOGY
    7.6 ULTRASOUND 
           7.6.1 BENEFITS SUCH AS NO INTERFERENCE AND BANDWIDTH LIMITATION TO DRIVE THE ADOPTION
    7.7 INFRARED 
           7.7.1 INFRARED TECHNOLOGY HELPS IN ROOM-LEVEL AND SUB-ROOM-LEVEL APPLICATIONS
    7.8 OTHER TECHNOLOGIES 
 
8 RTLS MARKET FOR HEALTHCARE, BY APPLICATION (Page No. - 109)
    8.1 INTRODUCTION 
    8.2 INVENTORY/ASSET TRACKING & MANAGEMENT 
           8.2.1 TRACKING OF INVENTORY AND ASSETS IS KEY APPLICATION OF RTLS IN HEALTHCARE SECTOR
    8.3 PERSONNEL LOCATING & MONITORING 
           8.3.1 NEED TO ENSURE SAFETY OF PATIENTS AND STAFF IS DRIVING RTLS ADOPTION
    8.4 ACCESS CONTROL & SECURITY 
           8.4.1 USAGE OF RTLS SOLUTIONS TO RESTRICT UNAUTHORIZED ACCESS
    8.5 ENVIRONMENTAL MONITORING 
           8.5.1 ENVIRONMENTAL MONITORING IS CRITICAL IN ENSURING ENHANCED PATIENT AND STOCK SAFETY
    8.6 SUPPLY CHAIN MANAGEMENT & AUTOMATION 
           8.6.1 RTLS HELPS IN IMPROVING OPERATIONAL VISIBILITY AND SUPPLY CHAIN MANAGEMENT
    8.7 OTHER APPLICATIONS 
 
9 RTLS MARKET FOR HEALTHCARE, BY FACILITY TYPE (Page No. - 117)
    9.1 INTRODUCTION 
    9.2 HOSPITALS & HEALTHCARE FACILITIES 
           9.2.1 RTLS PROVIDES REAL-TIME VISIBILITY INTO MOVEMENT OF EQUIPMENT AND PEOPLE
           9.2.2 HOSPITALS
           9.2.3 CLINICS
           9.2.4 EMERGENCY MEDICAL SERVICES
           9.2.5 DIAGNOSTIC LABS
    9.3 SENIOR LIVING FACILITIES 
           9.3.1 RTLS HELPS TO IMPROVE RESIDENT EXPERIENCE AND OPERATIONAL EFFICIENCY
 
10 RTLS MARKET FOR HEALTHCARE, BY REGION (Page No. - 131)
     10.1 INTRODUCTION 
     10.2 NORTH AMERICA 
             10.2.1 IMPACT OF RECESSION ON NORTH AMERICA MARKET
             10.2.2 US
                        10.2.2.1 Strong presence of key RTLS solution providers in US
             10.2.3 CANADA
                        10.2.3.1 Growing adoption of RTLS for asset and staff tracking in healthcare industry
             10.2.4 MEXICO
                        10.2.4.1 Growing healthcare sector to offer growth opportunities for RTLS
     10.3 EUROPE 
             10.3.1 IMPACT OF RECESSION ON EUROPE MARKET
             10.3.2 UK
                        10.3.2.1 Rising government expenditure to improve healthcare infrastructure
             10.3.3 GERMANY
                        10.3.3.1 Rising demand of process automation in healthcare sector
             10.3.4 FRANCE
                        10.3.4.1 Growing focus on R&D to develop advanced technologies
             10.3.5 REST OF EUROPE
     10.4 ASIA PACIFIC 
             10.4.1 IMPACT OF RECESSION ON ASIA PACIFIC MARKET
             10.4.2 CHINA
                        10.4.2.1 Rising focus on promoting IoT and other technologies in healthcare
             10.4.3 JAPAN
                        10.4.3.1 Healthcare sector to offer lucrative growth opportunities to RTLS
             10.4.4 AUSTRALIA
                        10.4.4.1 Rising ageing population drive the adoption of RTLS in healthcare
             10.4.5 SOUTH KOREA
                        10.4.5.1 RTLS vendors focusing on increasing their presence in South Korea RTLS market
             10.4.6 REST OF ASIA PACIFIC
     10.5 ROW 
             10.5.1 IMPACT OF RECESSION ON ROW MARKET
             10.5.2 MIDDLE EAST
                        10.5.2.1 Increasing focus on improvement of healthcare infrastructure in the region
             10.5.3 SOUTH AMERICA AND AFRICA
                        10.5.3.1 Increasing healthcare expenditure and untapped markets to drive the demand
 
11 COMPETITIVE LANDSCAPE (Page No. - 156)
     11.1 INTRODUCTION 
     11.2 KEY PLAYER STRATEGIES 
     11.3 TOP FIVE COMPANY REVENUE ANALYSIS 
     11.4 MARKET SHARE ANALYSIS, 2022 
     11.5 COMPANY EVALUATION QUADRANT, 2022 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
     11.6 COMPANY EVALUATION QUADRANT FOR SMES, 2022 
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
     11.7 RTLS MARKET FOR HEALTHCARE: COMPANY FOOTPRINT 
     11.8 COMPETITIVE BENCHMARKING 
     11.9 COMPETITIVE SITUATIONS AND TRENDS 
             11.9.1 RTLS MARKET FOR HEALTHCARE: PRODUCT LAUNCHES
             11.9.2 RTLS MARKET FOR HEALTHCARE: DEALS
 
12 COMPANY PROFILES (Page No. - 174)
     12.1 KEY PLAYERS 
             12.1.1 SECURITAS HEALTHCARE, LLC
                        12.1.1.1 Business overview
                        12.1.1.2 Products offered
                        12.1.1.3 MnM view
                                     12.1.1.3.1 Key strengths/Right to win
                                     12.1.1.3.2 Strategic choices
                                     12.1.1.3.3 Weaknesses and competitive threats
             12.1.2 ZEBRA TECHNOLOGIES CORPORATION
                        12.1.2.1 Business overview
                        12.1.2.2 Products offered
                        12.1.2.3 Recent developments
                        12.1.2.4 MnM view
                                     12.1.2.4.1 Key strengths/Right to win
                                     12.1.2.4.2 Strategic choices
                                     12.1.2.4.3 Weaknesses and competitive threats
             12.1.3 ARUBA NETWORKS
                        12.1.3.1 Business overview
                        12.1.3.2 Products offered
                        12.1.3.3 MnM view
                                     12.1.3.3.1 Key strengths/Right to win
                                     12.1.3.3.2 Strategic choices
                                     12.1.3.3.3 Weaknesses and competitive threats
             12.1.4 IMPINJ, INC.
                        12.1.4.1 Business overview
                        12.1.4.2 Products offered
                        12.1.4.3 Recent developments
                        12.1.4.4 MnM view
                                     12.1.4.4.1 Key strengths/Right to win
                                     12.1.4.4.2 Strategic choices
                                     12.1.4.4.3 Weaknesses and competitive threats
             12.1.5 SAVI TECHNOLOGY
                        12.1.5.1 Business overview
                        12.1.5.2 Products offered
                        12.1.5.3 Recent developments
                        12.1.5.4 MnM view
                                     12.1.5.4.1 Key strengths/Right to win
                                     12.1.5.4.2 Strategic choices
                                     12.1.5.4.3 Weaknesses and competitive threats
             12.1.6 ADVANTECH CO., LTD.
                        12.1.6.1 Business overview
                        12.1.6.2 Products offered
                        12.1.6.3 Recent developments
             12.1.7 AIRISTA FLOW, INC.
                        12.1.7.1 Business overview
                        12.1.7.2 Products offered
                        12.1.7.3 Recent developments
             12.1.8 ALIEN TECHNOLOGY, LLC
                        12.1.8.1 Business overview
                        12.1.8.2 Products offered
             12.1.9 CENTRAK, INC.
                        12.1.9.1 Business overview
                        12.1.9.2 Products offered
                        12.1.9.3 Recent developments
             12.1.10 CERNER CORPORATION
                        12.1.10.1 Business overview
                        12.1.10.2 Products offered
             12.1.11 GE HEALTHCARE TECHNOLOGIES INC.
                        12.1.11.1 Business overview
                        12.1.11.2 Products offered
             12.1.12 SONITOR TECHNOLOGIES
                        12.1.12.1 Business overview
                        12.1.12.2 Products offered
             12.1.13 TELETRACKING TECHNOLOGIES, INC.
                        12.1.13.1 Business overview
                        12.1.13.2 Products offered
                        12.1.13.3 Recent developments
             12.1.14 UBISENSE LTD.
                        12.1.14.1 Business overview
                        12.1.14.2 Products offered
                        12.1.14.3 Recent developments
     12.2 OTHER PLAYERS 
             12.2.1 BLUEIOT
             12.2.2 BORDA TECHNOLOGY
             12.2.3 DECAWAVE
             12.2.4 IDENTEC SOLUTIONS AG
             12.2.5 INFOR
             12.2.6 LEANTEGRA INC.
             12.2.7 LITUM
             12.2.8 MIDMARK CORPORATION
             12.2.9 MYSPHERA
             12.2.10 REDPOINT POSITIONING CORPORATION
             12.2.11 SECURE CARE PRODUCTS LLC
             12.2.12 SEWIO NETWORKS
             12.2.13 TRACKTIO
             12.2.14 VISIBLE ASSETS, INC.
 
13 APPENDIX (Page No. - 218)
     13.1 INSIGHTS OF INDUSTRY EXPERTS 
     13.2 DISCUSSION GUIDE 
     13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     13.4 CUSTOMIZATION OPTIONS 
     13.5 RELATED REPORTS 
     13.6 AUTHOR DETAILS 
 

The study involved four major activities in estimating the current size of the real-time location system (RTLS) market for healthcare. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been 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, and investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Various secondary sources include corporate filings such as annual reports, investor presentations, and financial statements, trade, business and professional associations, white papers, manufacturing associations, and more.

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 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 Corporation (US), and Aruba Networks (US); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.

RTLS Market for Healthcare Size, and Share

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.

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 market 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. The RTLS ecosystem includes various hardware, software, and service providers. RTLS solutions are being used in the healthcare industry for various applications such as inventory/asset tracking & management, personnel/staff locating & monitoring, access control/security, and environmental monitoring. RTLS solutions also include data analysis tools and representation interfaces for controlling and monitoring objects or people.

Key Stakeholders

  • Raw Material Suppliers
  • Component Designers, Manufacturers, and Suppliers
  • Original Equipment Manufacturers (OEMs)
  • System Integrators
  • Technology, Service, and Solution Providers
  • Testing, Inspection, and Certification Companies
  • Suppliers and Distributors
  • Government and Other Regulatory Bodies
  • Industry Forums, Alliances, and Associations
  • Research Institutes and Organizations
  • Market Research and Consulting Firms
  • End Users

Report Objectives

  • To define and forecast the RTLS market for healthcare in terms of offering, technology, application, and facility type.
  • To describe and forecast the RTLS market for healthcare and its 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 micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain and allied industry segments of the RTLS market for healthcare
  • 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 in terms of 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)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
SE 2568
Published ON
Apr, 2023
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