Global LBS in the Healthcare Sector 2017-2021
- Published: Feb 2017
- Pages: 85
- SKU: IRTNTR11902
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This market research study identifies AiRISTA, General Electric Company, HPE, and ZIH as the leading players in the global LBS in the healthcare sector. A comprehensive analysis of this market is also presented by location (indoor LBS and outdoor LBS), by category (services and equipment, solutions, and applications category), by technology (RTLS and GPS or AGPS), by application (asset management, staff management, and patient management), and by geography (the Americas, APAC, and EMEA).
Overview of the global LBS in the healthcare sector
The global location-based services (LBS) in the healthcare sector is anticipated to grow rapidly and will post a CAGR of close to 33% during the forecast period. The increasing usage of real-time location system (RTLS) to track sensitive medical shipments will drive the growth prospects for the global LBS in the healthcare sector until the end of 2021. According to the industry research report, several supply chain companies obtain location-based services by partnering with radio frequency identification (RFID) technology providers to monitor the shipments and maintain the freshness of drugs and vaccines as these vaccines and drugs are safely packed in styrofoam boxes. For instance, IBM has partnered with DHL to provide an advanced temperature tracking solution, which uses RFID technology to monitor temperature-sensitive shipments when they are in transit.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors contributing to the maximum revenue is the increasing adoption of RFID tags and RTLS solutions in the US.
Competitive landscape and key vendors
The global LBS in the healthcare sector is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly competing in the domestic and international markets in terms of product sales and price.
Key vendors in this market are -
- General Electric Company
Other prominent vendors in the market include Awarepoint, Axcess International, CenTrak, Cisco, Decawave, Emanate Wireless, IBM, Infor, Navizon, PLUS Location Systems, Radianse, RF Technologies, Siemens Healthcare, Sonitor Technologies, STANLEY Healthcare, TeleTracking Technologies, ThingMagic, and Versus Technology.
Segmentation by category and analysis of the LBS in the healthcare sector
- Equipment, solutions, and applications category
The global LBS in the healthcare sector by services category accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the market segment’s growth is the increasing adoption of LBS required for asset tracking by third-party medical equipment providers.
Segmentation by application and analysis of the LBS in the healthcare sector
- Asset management
- Staff management
- Patient management
The asset management segment accounted for the majority market share during 2016 and will continue to dominate the LBS market during the forecasted period. The increasing adoption of RFID to locate equipment such as hospital beds, wheelchairs, ventilators, and sensitive equipment will drive the market segment’s growth.
Key questions answered in the report include
- What will the LBS market size and growth rate be in 2021?
- What are the key factors driving the global LBS in the healthcare sector?
- What are the key market trends impacting the growth of the global LBS in the healthcare sector?
- What are the challenges to market growth?
- Who are the key vendors in the global LBS in the healthcare sector?
- What are the market opportunities and threats faced by the vendors in the global LBS in the healthcare sector?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global LBS in the healthcare sector?
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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