Global Real-time Location System market to grow at a CAGR of 37.41% over the period 2015-2019. An RTLS is a technology that is used to find, track, manage, and identify the geographical position of a target on a real-time basis. It can track the location of objects in real time with the help of nodes or tags and readers. Nodes or tags are embedded in smartphones or navigational devices. A reader is used to receive wireless signals from the tags and determine an object’s location. RTLS works on technologies such as GPS, UWB, Bluetooth, Wi-Fi, and RFID to track the location of objects. RTLS has found application in many sectors including Healthcare, Military, Supply Chain Management, Retail, Government Recreation Organizations, Postal, and Courier Services. RTLS provides numerous applications such as fleet tracking, personal tracking, network security, navigation, inventory, and asset tracking.
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Hospitals worldwide are predominantly using Real-time Location System (RTLS) for smooth functioning, asset management and equipment location.
Many hospitals are also incorporating data analytics software to track the par levels of infusion pumps, perform real-time tracking of temperature levels of refrigerators in medical facilities and for monitoring patients.
“Data Analytics software helps hospital staff to extract large datasets and obtain real-time information to gain better insights, thus helping them in make better decisions on maintaining medical equipment,”.
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The Global Real-time Location System market is segmented on the basis of two categories: by solutions and by verticals. On the basis of solutions, the market is segmented into two categories: Systems and Tags. On the basis of Verticals, it is segmented into five categories:Transportation, Healthcare, Government, Retail, and Others.
Global Real-time Location System Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Americas, and the EMEA and APAC regions as leading regions; it also covers the Global Real-time Location System market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
“Stanley Healthcare has incorporated visual data analytics software from Tableau’s Software with Wi-Fi RTLS, which enables hospitals to track the levels of infusion pumps so that they can be refilled.”
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RTLS is becoming just as popular outside the healthcare sphere, as it enables better asset tracking, which helps increase operational efficiency and reduce costs.
In 2013, the US Army spent approximately US$600 million on active tag systems. It is using active RFID tags to track containers that are shipped in conflict regions such as Afghanistan and the Middle East, on a real-time basis.