Global LBS in the Healthcare Sector Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. Location based services (LBS) are services accessible via a mobile phone and take into account the device’s geographical location. LBS usually deliver information or entertainment. The basic components of LBS include a mobile network to transmit data and requests for service, the service provider’s software application, a content provider to supply the end user with geo-specific information, a positioning component and the end user’s mobile device.
The factors that propel the growth of the LBS in the Healthcare Sector Industry include increasing demand, rapid urbanization & industrialization, and product development & technological innovations. In addition, some of the other factors such as increasing use of smartphones, rapid implementation of beacon and location-based technology, adoption of Wi-Fi and WLAN in hospitals, and growing use of RTLS to track sensitive medical shipments significantly contribute to the market growth.
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On the other hand, there are also factors that may hamper the growth of the market such as high cost of implementation. LBS in the Healthcare Sector Market is classified on the basis of usage, product type, technology, applications, distribution channel and geography. LBS in the Healthcare Sector Industry is classified by usage as indoor LBS and outdoor LBS.
Location Based Services (LBS) in the Healthcare Sector Market is segmented by product type as services, equipment, solutions, and others. The market is categorized by technology as RTLS and GPS/AGPS. LBS in the Healthcare Sector Industry is classified on applications as asset management, patient management, staff management and others. LBS in the Healthcare Sector Market is segmented by distribution channel as online stores, specialty stores and others. This Industry is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.
The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, and Australia & New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa.
By geography, North American is projected to account a significant share of the LBS in Healthcare Sector Market. The key factors that attribute to the growth of this region include technological developments, rise in adoption, and well established healthcare infrastructure & facilities. On the other hand, Asia Pacific is expected to show fast growth rates in the LBS Healthcare Sector Market.
Some of the key players that fuel the growth of the LBS in the Healthcare Sector Industry include AiRISTA, Awarepoint, Axcess International, CenTrak, Cisco, Decawave, Emanate Wireless, General Electric Company, HPE, IBM, Infor, Navizon, ZIH, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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