Technavio analysts forecast the global location-based services (LBS) market in the healthcare industry to grow at a CAGR of more than 32% during the forecast period, according to their latest report, as noted by a press release from the global technology research and advisory company.
The market is segmented into the following: asset management, staff management, patient management, and others.
According to the press release, Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global LBS market in the healthcare industry:
- Wide deployment of real-time location service (RTLS) tags in hospitals
- Rapid adoption of Wi-Fi and WLAN in hospitals
- Growing use of healthcare wearables
- Fall in price of RFID tags
- Wide deployment of RTLS tags in hospitals