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TechNavio Says Use of Analytics in Healthcare will Accelerate the Global Real-Time Location System Market from 2015-2019An increased use of location services in healthcare has resulted in a CAGR of 37.41 percent from 2015-2019 in the Global Real-Time Location System (RTLS) Market, says research firm TechNavio. Hospitals worldwide are predominantly using 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 extract large datasets and obtain real-time information to gain better insights, thus helping them in make better decisions on maintaining medical equipment," says Faisal Ghaus, Vice President of TechNavio. "Stanley Healthcare has incorporated visual data analytis 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." 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 (News - Alert) 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. TechNavio currently has more than 3000 market research reports on a huge range of topics, including: About TechNavio TechNavio is a leading global technology research and advisory company. Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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