Real-Time Location Systems (RTLS) Industry Size for Healthcare

1. MarketsandMarkets Presents Real-Time Location Systems (RTLS) Industry Size for Healthcare 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 https://www.marketsandmarkets.com/Market-Reports/rtls-healthcare-market-19089515.html

2. According to the new research report the global RTLS market in healthcare is projected to reach USD 3.9 billion in 2025 from USD 1.4 billion in 2020, at a CAGR of 23.0% between 2020 and 2025.Rise in market competitiveness leading to cost-effective RTLS solutions, high return on investment, and safety and security concerns in healthcare facilities are the major factors contributing to the growth of the RTLS market in healthcare. Browse 138 market data Tables and 70 Figures spread through 227 Pages and in-depth TOC on "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"

3. Hardware segment to account the largest share of the RTLS market in healthcare The hardware segment to account the largest share of the RTLS market in healthcare during the forecast period. The dominance can be attributed to increased demand for RTLS hardware solution in the healthcare sector for inventory tracking and management, staff locating and monitoring, patient tracking, and access control and security.  Also, they make up a major part of the overall cost of the RTLS solution. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19089515 Ultra-wideband (UWB) technology is expected to register the highest CAGR during the forecast period UWB technology is expected to register the highest CAGR in the RTLS market in healthcare during the forecast period. The high CAGR is attributed to its ability to provide more accurate data than other technologies-based RTLS solutions. Also, it can support locating objects down to the range of a few centimeters.

4. Opportunity: Need for resource utilization and workflow optimization to boost demand for RTLS Several healthcare organizations have faced resource utilization as a major challenge while increasing their output in terms of workflow optimization, production, tracking and monitoring of assets, and reducing the 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 the inventory and stock management costs by tracking and managing assets in real time Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=19089515 Challenge: System incompatibility and lack of uniform standards and interoperability End users have to choose from a wider range of available solutions; however, the lack of uniform standards makes it difficult to integrate the available solutions. The incompatibility between various infrastructures and lack of interoperability creates problems for end users. Companies such as Zebra Technologies, STANLEY Healthcare, and Identec Group provide RTLS solutions that support more than one protocol; however, most players in the market primarily focus on a single protocol. Since different technologies operate on different protocols and frequency bands, there is no interoperability between various RTLS solutions, except solutions provided by a few vendors such as Zebra Technologies, which offers multiple RTLS technologies that are supported by the same middleware.

5. North America held a significant share of the global RTLS market in healthcare North America held a significant share of the global RTLS market in healthcare during the forecast period. The growth can be attributed to huge presence of RTLS manufacturers and consumers in the region as well as well-established economy which allows for investments in new technologies. In addition, several healthcare organizations in the region are adopting RTLS solutions to increase their staff productivity and perform optimum asset utilization.

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