LBS & RTLS in Healthcare Market Scope
Real-Time Location Systems (RTLS), an application based on ubiquitous computing, is recognized as a new application that will increase the visibility and operational efficiency of clinical and administrative workflows in the healthcare setting. Location-based services (LBS) refer to a service that takes into account the geographical location of the user to provide information. It is widely used in local news, directions, point of interest, asset tracking, etc. Real-Time Location System (RTLS) refers to the use of electronic systems to locate people or things. It is widely used in trucking fleets of vehicles, complex navigation services, asset tracking as well as personal tracking. The United States LBS and RTLS in the Healthcare market was valued at USD 866.31 Million in 2019 and is expected to reach USD 2,697.32 Million by 2025, growing at a CAGR of 20.84% during 2020-2025. the demand for LBS and RTLS is increasing due to the COVID-19 pandemic across the United States. Due to the increasing demand, the companies are also doing fewer investments in the services of the LBS and RTLS in healthcare. Thereby, more revenue is expected to generate from the United States LBS and RTLS in the healthcare market in the 2020 fiscal year. In 2020 year, the market is expected to generate turnover of USD 1,041.97 million
The LBS & RTLS in Healthcare market study is segmented by Type (Hardware, Software and Services), by Application (Hospital Asset Tracking & Monitoring, Patient Tracking & Monitoring, Ambulance Asset Monitoring and Others) and major geographies with country level break-up.
The Players having a strong hold in the market are Aruba Networks (HP Company) STANLEY Healthcare Zebra Technologies GE Healthcare Infor. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global LBS & RTLS in Healthcare market throughout the predicted period.
Hewlett Packard Enterprise Development LP (United States), Cisco Systems Inc. (United States), Esri (United States), Koch Industries, Inc (United States), Microsoft Corporation (United States), Oracle Corporation (United States), Stanley Black & Decker, Inc. (United States), Zebra Technologies Corporation (United States), General Electric Company (United States) and International Business Machines (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are HID Global Corporation (United States), IndoorAtlas Ltd. (Finland), Midmark Corporation (United States), Skytron, LLC (United States) and Sanitag (Turkey).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global LBS & RTLS in Healthcare market by Type, Application and Region.
On the basis of geography, the market of LBS & RTLS in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In September 2020, Zebra Technologies Corporation an innovator at the front line of business with solutions and partners that deliver a performance edge announced that it has completed its acquisition of Reflexis Systems, Inc., a privately-held, leading provider of intelligent workforce management, execution, and communication solutions for organizations in the retail, food service, hospitality, and banking industries.
Jan 2020, Infor, a global leader in business cloud software specialized by industry part of Koch Industries Inc., announced it has entered into an agreement to acquire Intelligent InSites Inc. Headquartered in Fargo, North Dakota, Intelligent InSites is a leading provider of healthcare software and services leveraging location-based intelligence from real-time location systems (RTLS).
- Increasing Adoption of Location-Based Fitness Monitoring in The United States
- High Demand Due to Various Applications of Geospatial Data Driving The LBS and RTLS Market Growth
- BLE and UWB for Indoor Proximity Services
- The Concern Regarding Stringent Government Rules and Regulations
- The Issues Related to Privacy and Security
Key Target AudienceRegulatory Bodies, Governmental Bodies, Research Organizations and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the LBS & RTLS in Healthcare Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.
3. What is expected growth rate?
According to AMA, the Global LBS & RTLS in Healthcare market is expected to see growth rate of 21.04%.