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Smartrac releases dual-frequency Prelam for contactless cards, establishes global distribution agreement with Future Electronics ••• Suprema launches RFID-enabled access-control device ••• Technavio report predicts U.S. RTLS market will grow by 45 percent through 2020 ••• NFC market expected to reach $47 billion by 2024 ••• OTI, Vend Access, Card Access Services to provide cashless-payment solutions in Australia.
By Rich Handley

Technavio Report Predicts U.S. RTLS Market Will Grow By 45 Percent Through 2020

Analysts at Technavio have released a report predicting that the real-time location systems (RTLS) market in the United States will grow by 45 percent during the forecast period of 2016 to 2020. The research study also lists the transportation, health-care, retail and government sectors as four major application segments for the RTLS market.

"RTLS and radio-frequency identification tags help in increasing the efficiency and reducing the operational cost of enterprises," said Abhishek Sharma, a lead analyst at Technavio for machine-to-machine (M2M) and connected devices research, in a prepared statement, "including small and medium-sized enterprises."

In the health-care sector, many hospitals are deploying RTLS tags to improve operations and increase profitability. Such tags are used to monitor sensitive equipment, patients and hospital personnel, including doctors and nurses. High-frequency (HF) and ultrahigh-frequency (UHF) RFID tags are widely used for such purposes as tracking and locating critical medical devices, managing inventory, and monitoring and identifying patients.

"In addition, tracking surgical instruments and other reusable medical equipment using RTLS solutions helps in automating the sterile processing workflow regarding cleaning, sterilizing and distributing medical equipment and critical supplies," Sharma said in the statement. "Therefore, the health-care sector offers a huge opportunity for the RTLS market in the U.S."

A sample of the report can be requested here. The sample is free of charge and contains multiple sections, including market size and forecast, drivers, challenges and trends. The report highlights four factors that contribute to the growth of the RTLS market in the United States: the increased use of RTLS tags in the health-care sector, the increased use of RTLS solutions in transportation and logistics, a decline in the cost of RFID tags and an increase in the use of 3D platforms.

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