Global $3.12 Billion RTLS Market for Healthcare 2017-2022

Dublin, Jan. 26, 2017 -- Research and Markets has announced the addition of the "RTLS Market for Healthcare by Facility Type (Hospitals and Health Facilities and Senior Living Facilities), Offering (Hardware, Software, and Services), Technology (RFID, Wi-Fi, BLE, and UWB), Application, and Geography - Global Forecast to 2022" report to their offering.

Market Dynamics

Drivers

• Increasing Concern for Safety and Security
• Improved Resource Utilization and Workflow Optimization Using RTLS
• Decrease in Cost of RTLS Hardware and Software
• Increasing Government Investments

Restraints

• Intercompatibility and Interoperability Issues and Lack of Uniform Standards
• High Cost of Installation and Maintenance
• Concerns Regarding Data Security & Privacy

• Large Untapped Market
• Growing Demand From APAC Region

Challenges

• Complicated Trade-Off Between Accuracy, Range, and Power Consumption

"Growing demand for RTLS from senior living facilities is fueling the growth of the RTLS market for healthcare."

The RTLS market for healthcare is expected to grow at a CAGR of 23.6% between 2016 and 2022 to reach USD 3,123.7 million by 2022 from USD 580.1 million in 2015.

In addition to this, the rapid growth in IoT in the healthcare industry has also led to increase in adoption of RTLS, thereby further accelerating the growth of the RTLS market for healthcare. The major restraining factors for the growth of the RTLS market for healthcare are lack of uniform standards in the RTLS market and high cost of installation and maintenance.

Bluetooth LE (BLE) and UWB technologies are expected to witness significant growth in the RTLS market for healthcare during the forecast period. The high precision and accuracy offered by UWB technology for tracking objects is driving the growth of UWB-based RTLS market for healthcare, while the low power consumption feature of BLE is the driving factor for the BLE-based RTLS market for healthcare.

North America is expected to hold the largest size of the RTLS market for healthcare during the forecast period, while the market in APAC is expected to grow at the highest rate during the same period. China, Japan, Singapore, Australia, and India are some of the major countries driving the growth of the RTLS market for healthcare in APAC.

A significant number of hospitals, health facilities, and senior living facilities using RTLS are located in North America and APAC. Besides this, the governments, especially in APAC, are making significant investments for the development of IoT industry. These are some of the major factors driving the growth of the RTLS market for healthcare in North America and APAC.

Some of the major companies operating in the RTLS market for healthcare are STANLEY Healthcare (U.S.), TeleTracking Technologies, Inc. (U.S.), CenTrak, Inc. (U.S.), Versus Technologies, Inc. (U.S.), and Awarepoint Corp. (U.S.).

For more information about this report visit http://www.researchandmarkets.com/research/4csxd7/rtls_market_for

CONTACT: Research and Markets
         Laura Wood, Senior Manager
         [email protected]
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
         U.S. Fax: 646-607-1907
         Fax (outside U.S.): +353-1-481-1716
         Related Topics: Healthcare Services, RFID