Analysis of the US Hospital Real-time Location Systems Market
Primary and Secondary Research Methodology
The primary research included in-depth discussions with a variety of market participants, focusing primarily on vendors specializing in Real-Time Location Systems hardware, installation, integration and service offerings as a core business. Within vendor organizations, discussions were held with CEOs or marketing, sales and strategy executives.
The secondary research consisted of an extensive review of data and literature from various nonprofit and industry organizations, vendor Websites, and news sources. Base Year Market Assumptions
The compound annual growth rate (CAGR) was determined on the basis of information obtained during primary and secondary research. Base year revenue was determined from and verified with public filings and interviews with market participants. Market size is estimated and cross-checked through extensive market research. Restraint Factors in Forecasting
Natural limitations of vendor interview, in terms of disclosure of sales and projected growth statements, were a restraint.
Frost & Sullivan employs a competitively verified best-guess model to project base year sales for non-participating vendors featured in the study.
Sudden pricing shifts due to industry consolidation, hospital client consolidation, external competition, technology shift, or other unforeseen market externalities were not taken into account.
About this report
Real-time Location Systems (RTLS) can be a part of the technologies leveraged by hospitals to support the operational, care, and cost optimization. Static point-to-point RTLS has evolved to second- and third-generation systems that can utilize a combination of embedded analytics and floor space tracking. With reductions in technology pricing, an increase in adoption rates, especially for enterprise-level development, is expected. This report covers the total hospital RTLS market as well as segments, such as asset tracking, patient and staff management, and hygiene management. Key market trends, revenue forecasts, demand analysis, and profiles of selected vendors are provided.
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