The Europe Real-time Location Systems Market would witness market growth of 25.7% CAGR during the forecast period (2021-2027).
Whenever a patient or other member of staff summons aid during a medical emergency, RTLS can be utilized to quickly find healthcare professionals at large facilities. RTLS can also be used to follow patients' physical movements to be sure their safety, which is especially important for Alzheimer's and dementia patients. When a resident walk away from a pre-defined area or tries to exit the premises, such as when a patient passes too close to an entry gate or exit, an RTLS can inform staff and pinpoint their whereabouts. In such instances, automatic door locking may be initiated if necessary.
Because locating by associating can give precise information on who is near whom, it can be utilized to determine how long a nurse has been caring for a particular patient. A low-cost system for care facilities can track how often staff visits clients in their room care. RTLS can also offer information regarding residents' mobility in older care facilities.
Germany, with majority of population, maintains to be Europe's largest consumer market in terms of both spending and population power. It also holds Europe's biggest GDP, as well as one of the highest overall purchasing power. In addition, the presence of numerous developed nations with high technological adoption rate would accelerate the demand for advanced solutions and systems across this region.
The German populace is wealthy, and current patterns indicate that the country will continue to prosper and grow. Individualistic value-for-money notions are becoming increasingly popular among German consumers. Discount merchants and well-known brand names are equally appealing to the average German consumer across several product categories. The generation of customers aged 50 and over is proven to be particularly appealing as a target demographic because they are the largest consumer group with the most purchasing power.
The Germany market dominated the Europe 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 $1,199.4 million by 2027. The UK market is experiencing a CAGR of 24.6% during (2021 - 2027). Additionally, The France market would exhibit a CAGR of 26.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Real-time location systems Market Size will Hit $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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