The Asia Pacific Real-time Location Systems Market would witness market growth of 27.1% CAGR during the forecast period (2021-2027).
Buzzers can be added to location sensors as well. When patients are discharged, patient ID badges might become buried in bed linen and can't survive the bed linen wash cycle. Deploying position sensors that raise an alarm if badges are spotted in laundry chutes could be beneficial in this scenario. Tags can include a variety of sensors to gather information about the surroundings, the person wearing the tag, or the tagged item. Motion sensors in the tag, for instance, can detect whether the person wearing it is moving, whereas a temperature sensor linked to a gadget can detect whether it is in optimal thermal functioning conditions.
Tags can also feature connections that link to assets so that precise facts about the asset or its operational state can be sent. The tag, for instance, can tell not just where the tagged device is, but also whether it's turned on. Lastly, tags can include write-able memory, which can be used to log and store information about the tagged asset, such as user and other data.
Asia Pacific region is one of the leading users of RTLS Bbecause of the growing working population and the burgeoning healthcare industry in emerging economies such as India and China. , the Asia-Pacific market is predicted to grow at the quickest rate over the upcoming period. The presence of leading manufacturing hubs across this region like China and Japan, would create demand for advanced solutions for asset tracking and hence, opening lucrative opportunities for the regional market players. Furthermore, Japan is hosting the Summer Olympics in 2021, which will necessitate real-time tracking of commodities and authorized personnel to guarantee that the activities run smoothly. During the projected period, this is expected to fuel the expansion of the real-time location system market.
The China market dominated the Asia Pacific Real-time Location Systems Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,485.8 million by 2027. The Japan market is anticipated to grow at a CAGR of 26.2% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 27.8% during (2021 - 2027).
Based on Technology, the market is segmented into RFID, Ultra-Wideband, Wi-Fi, ZigBee, Infrared and Others. Based on Industry, the market is segmented into Healthcare, Manufacturing & Processing, Retail, Transportation & Logistics and Others. Based on Component, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Real-time location systems Market is Projected to reach USD 18.5 Billion by 2027, at a CAGR of 26.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Impinj, Inc., Zebra Technologies Corporation, Stanley Black & Decker, Inc., Cerner Corporation, Lockheed Martin Corporation, Hewlett Packard Enterprise Company, General Electric (GE) Co., Alien Technology, LLC, Tracktio, and Savi Technology, Inc.
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