Authored By: Sarah
14 Feb 2025

Latest News- LBS Market In Healthcare Sector: Indoor LBS is expected to lead the Type segment during 2025-2029

The LBS Market In Healthcare Sector is being driven by Adoption of location-based fitness applications

The LBS Market In Healthcare Sector is expected to grow at a CAGR of 45.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 88403.6 million. In the healthcare sector, effective communication between patients, doctors, and hospital staff is paramount for timely and efficient care. Inefficiencies in communication can lead to critical delays and potentially life-threatening situations. Traditional methods such as pagers have been inadequate, resulting in an average loss of 46 minutes per day for hospital staff. To address this issue, many healthcare facilities have adopted Location-Based Services (LBS) Market solutions. These systems facilitate patient communications, patient help button alerting, and staff safety alerting, enhancing overall operational efficiency and reducing costs. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • Type
    • Indoor LBS
    • Outdoor LBS
  • Technology
    • RTLS
    • GPS/AGPS
  • Geography
    • North America
      • Canada
      • US
    • Europe
      • Germany
      • UK
      • France
      • Italy
    • APAC
      • China
      • India
      • Japan
      • South Korea
    • South America
      • Middle East and Africa

      According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

      • Adoption of location-based fitness applications
      • Rising demand for security and automation in operation
      • Increased use of RTLS to track sensitive medical shipments

      However, the market also witnesses some limitations, which are as follows:

      • High cost of implementation
      • Lack of infrastructure in developing economies
      • Security and privacy issues

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      Market Scope in LBS Market In Healthcare Sector Research Report

      Market Scope

      Report Coverage

      Details

      Page number

      201

      Base year

      2024

      Historic period

      2019-2023

      Forecast period

      2025-2029

      Growth momentum & CAGR

      Accelerate at a CAGR of 45.9%

      Market growth 2025-2029

      USD 88403.6 million

      Market structure

      market_structure.ucfirst

      YoY growth 2024-2025(%)

      36.1

      Key countries

      US, Germany, Canada, UK, China, France, Italy, Japan, India, and South Korea

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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      Find out which segment is leading the market by accessing the free PDF report

      Research Analysis Overview

      In the healthcare sector, Location-Based Services (LBS) are revolutionizing industries such as Geospatial, Circular Economy, and Navigation, through the use of Geospatial Data and Mapping for precision medicine and logistics management. Industry 4.0 and Digital Transformation bring Process Automation, Cloud Computing, and Data Analytics, enhancing patient care and supply chain optimization. Green Technology, including electric vehicles and sustainability solutions, promotes transportation and delivery optimization. Machine Learning and Artificial Intelligence enable predictive analytics, route planning, and inventory management. Telemedicine adoption, virus tracking, and smart city initiatives improve healthcare technology, customer experience, and supply chain visibility. Geospatial Data, GPS, and Location Services power fleet management, logistics, and health and wellness. Navigation and route planning optimize fleet management and transportation, while Industry 4.0 and Digital Transformation bring process automation and supply chain optimization. Green Technology, including electric vehicles and sustainability solutions, promote transportation and delivery optimization. Machine Learning and Artificial Intelligence enable predictive analytics, route planning, and inventory management. Telemedicine adoption, virus tracking, and smart city initiatives improve healthcare technology, customer experience, and supply chain visibility. LBS provide essential location tracking, enabling real-time monitoring of patients, assets, and vehicles, while Geospatial Data and Mapping ensure accurate and efficient route planning and warehouse management. Circular Economy principles, such as reusing and recycling resources, are integrated into LBS through Industry 4.0 and Digital Transformation, reducing waste and promoting sustainability. LBS also facilitate the adoption of digital health solutions, including telemedicine and e-commerce logistics, enhancing accessibility and convenience for patients and healthcare providers. Overall, LBS play a crucial role in the healthcare sector, driving innovation, improving efficiency, and enhancing the customer experience.

      Market Research Overview

      The IT software market encompasses businesses specializing in the development and production of application and system software, including database management solutions. The application software sector focuses on creating software for specific business or consumer applications, such as enterprise, technical, and cloud-based solutions. Excluding interactive home entertainment and systems software providers, this market generates substantial revenue through the provision of various IT software offerings. Key sectors include the healthcare industry, with a focus on optimizing processes through clinics, diagnostics, and automation. Additionally, consumer goods, logistics, and the industrial sector benefit from cost-effective product innovation, distribution channels, and environmental concerns. Technavio's market analysis calculates the market size based on the combined revenue of these software providers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


      Contacts

      Technavio Research
      Jesse Maida
      Media & Marketing Executive
      US: +1 844 364 1100
      UK: +44 203 893 3200
      Email: media@technavio.com
      Website: www.technavio.com/

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