The North America RTLS for healthcare market was valued US$ 689.83 Mn in the year 2018 and is expected to reach US$ 3,090.08 Mn by 2027 growing at a CAGR of 18.9% over the forecast period.
Real time location systems (RTLS) have become the foundation for applications that boost efficiency, productivity, and safety in every industry. RTLS helps employees to focus on activities that bring more value to the organization. It enables us to locate and track assets accurately, and people allow processes to be optimized. This insight viewed through a digital prism the development of digital transformation, many options and standards have appeared. Bluetooth, LTE, UWB, and Zigbee provide a great service to businesses despite using different methods. The low cost of the Bluetooth LE tags technology makes it applicable in settings where these advanced systems not have been otherwise feasible. Moreover, Wi-Fi RTLS technology is more accurate than proximity-based RTLS options as Wi-Fi RTLS uses time-of-flight measurements, which has a relatively wide bandwidth. Also, GPS RTLS technology enables hospitals to track the assets that leave the hospital premises, these devices can be operated for an extended time without the requirement of external power.
In 2018, the Ultra-Wide Band (UWB) segment accounted for the largest market share of the North America RTLS for Healthcare market. The UWB RTLS software receives signals from the tags that are attached to the hospital assets and then produces critical analytics, executive dashboards, alerts, reports, to help healthcare practitioners increase their efficiency and productivity. Thus due to its accuracy in indoor positioning the UWB market is expected to witness rapid growth during the forecast period.
Similarly, hospitals & healthcare facilities segment led the market in 2018, contributing a market share high market share and is expected to retain its dominance during the forecast period from 2019 to 2027. Additionally, in 2018 inventory and asset tracking market by application is expected to have largest market share and hightes growth rate in the forecast period.
Some of the major primary and secondary sources for RTLS for healthcare market included in the report are, Centers of Disease Control and Prevention, Department of Industrial Policy and Promotion, General Data Protection Regulation, World Health Organization, US Food and Drug Administration, among others.