North America RTLS for Healthcare Market, Size, Segment and Growth by Forecast Period: 2019-2027
North America RTLS for Healthcare Market, Size, Segment and Growth by Forecast Period: 2019-2027
Blog Article
North America RTLS for Healthcare Market to Reach $3,090.08 Million by 2027, Growing at 18.9% CAGR
The North America Real-Time Location System (RTLS) for healthcare market, valued at $689.83 million in 2018, is projected to expand to $3,090.08 million by 2027, growing at a CAGR of 18.9% during the forecast period. This growth is driven by the advantages of RTLS solutions and increasing market competition fueled by the rise of innovative startups.
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Startups Driving Market Innovation
The RTLS sector has seen a surge in new entrants, with several startups emerging between 2014 and 2017, enhancing market competitiveness. These companies are delivering customized and advanced RTLS solutions across various industries. Notable examples include:
- Pozyx Labs (founded in 2015): Offers ultra-wideband (UWB) RTLS solutions with sub-meter accuracy (10 cm) for precise positioning and motion tracking.
- Sewio Networks (Czech Republic, 2014): Provides RTLS hardware and software for real-time, actionable data to improve productivity and cost efficiency.
- Proxicon Limited (UK, 2015): Specializes in RTLS technology for healthcare and industrial applications.
Strategic Growth Initiatives (2016-2019)
Key players in the RTLS market have adopted organic and inorganic growth strategies, including product launches, acquisitions, and partnerships, to strengthen their market presence. For example:
- In July 2018, Zebra Technologies Corporation introduced new healthcare barcode printing solutions to enhance patient and specimen identification at the point of care.
US Market Leading the Growth
The US RTLS for healthcare market is expected to grow at the highest rate, driven by:
- The benefits of RTLS systems in improving operational efficiency and patient care.
- The rising number of startups introducing innovative solutions.
- The increasing adoption of smartphones, tablets, and mobile devices, which supports the integration of RTLS technologies.
With these trends shaping the industry, the North American RTLS healthcare market is poised for significant expansion, offering advanced solutions to meet evolving healthcare demands.
North America RTLS for Healthcare Strategic Insights
Strategic insights for the North America RTLS for Healthcare provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
CenTrak
Impinj, Inc.
Intelligent InSites
Aruba (Hewlett Packard Enterprise Development LP)
Midmark Corporation
Sanitag
Sonitor Technologies
STANLEY Healthcare
Teletracking Technologies, Inc.
Zebra Technologies Corp.
North America RTLS for Healthcare – Regional Insights
The geographic scope of the North America RTLS (Real-Time Location Systems) for Healthcare market encompasses the distinct regions where businesses operate and compete. Recognizing regional differences—such as varying consumer needs (e.g., preferences for plug types or battery backup options), economic conditions, and regulatory requirements—is essential for developing market-specific strategies. By identifying underserved areas or customizing solutions to align with local demands, companies can broaden their market presence. A focused regional approach enables more efficient resource allocation, precise marketing efforts, and stronger positioning against local competitors, ultimately driving market growth in targeted areas.
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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights Report this page