Global Location-based Services Market in the Healthcare Industry 2016-2020

Overview of the global location-based services (LBS) market in the healthcare industry

Technavio’s market research analyst predicts the global location-based services (LBS) market in the healthcare industry to grow at a CAGR of approximately 32% during the forecast period. The rising need to locate and track people as well as equipment will foster the adoption of LBS in the healthcare industry. Recently, it has been observed that a large number of hospitals are deploying real-time location systems (RTLS) tags to enhance operations and profitability. These tags facilitate asset management and the location of equipment like hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps quickly. Moreover, the ability of RTLS tags to monitor sensitive equipment, patients that require special attention, and hospital staff will result in its augmented adoption during the forecast period.

The rapid adoption of Wi-Fi and WLAN networks in hospitals is a critical factor that will drive market growth during the forecast period. With the growing adoption of radio frequency identification (RFID) bands, the deployment of LANs, WLANs, and Wi-Fi in hospitals will also increase. Wi-Fi enabled RTLS are used to track the location of various assets inside the hospital campus. As a result, many hospitals are also developing indoor applications based on the hospital floor map to offer location-based services that help to track patients, staff, and equipment.

Usage-based segmentation of the LBS market in the healthcare industry

• Indoor LBS
• Outdoor LBS

In this market study, analysts have estimated the indoor LBS segment to account for a market value of more than USD 4000 million by 2020. The prospects for growth in this market segment will be driven by the augmented adoption of LBS for indoor asset tracking. The ability of indoor LBS to enhance efficiency and track sensitive medical vaccines and drugs will result in its increased adoption during the estimated period.

Segmentation by application and analysis of the LBS market in the healthcare industry

• Asset management
• Staff management
• Patient management

This segmentation analysis identifies the asset management segment to be the highest market revenue generating segment during the predicted period. Significant growth in this market segment can be attributed to the rapid utilization of RFID to locate equipment like hospital beds, wheelchairs, ventilators, sensitive equipment, oxygen cylinders, and infusion pumps. The global LBS market in the healthcare industry by asset management will grow at a CAGR of more than 35% until 2020.

Competitive landscape and key vendors

The competitive environment of this market is expected to intensify with an increase in R&D innovations and M&A activities. The market is also likely to witness a growing trend of local acquisitions by the leading players. Many IT solution providers are also expected to enter this market by acquiring some of the existing leading players. This is mainly attributed to the increasing demand for innovative technology solutions and the maturity of Wi-Fi and UWB technology-based RTLS solutions.

Leading vendors in the market include -

• AeroScout
• Awarepoint
• Ekahau
• GE
• HP
• Zebra Technologies

Other prominent vendors in the market include Axcess International, Awarepoint, Centrak, Cisco Networks, Elpas (Tyco Security Products), IBM, Infor Global, Navizon, Plus Location Systems, Radianse(Airponte ), RF Technologies, Siemens Healthcare, Sonitor Technologies, ThingMagic (Trimble Navigation), Teletracking Technologies, and Versus Technology.

Key questions answered in the report

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global LBS market in the healthcare industry?
• What are the key market trends impacting the growth of the LBS market in the healthcare industry?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global LBS market in the healthcare industry?
• What are the trending factors influencing the market shares of North America, EMEA, APAC, and Latin America?
• What are the key outcomes of the five forces analysis of the global LBS market in the healthcare industry?

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• Indoor LBS Market in Western Europe 2015-2019
• Global Indoor LBS Market 2015-2019
• LBS Market in India 2015-2019