The real-time location systems market is anticipated to grow as a result of factors such as the expanding need for asset tracking and monitoring across various industries, rising demand for automated systems in warehouses and manufacturing facilities, rising healthcare costs because of improvements in patient care and transportation-related government programmes. Moreover, the market for real-time location systems is anticipated to be driven by technological advancements such as radio frequency identification (RFID) and beacon technology. The market for real-time location systems is anticipated to benefit from many factors, including the rising need for operational safety and the requirement to cut costs. However, it is anticipated that privacy issues relating to the gathering and use of data produced by real-time location systems may impede industry expansion.

In the following decade, there will be a significant increase in the demand for real-time location systems due to the growing requirement to track and locate moving items. The market is anticipated to have a major upsurge in the following ten years as more cutting-edge technology like  RFID, Wi-Fi, Ultrasound, Infrared, ZigBee, and others comes into play.

Since real-time location systems provide so many benefits, the market for them is anticipated to expand quickly during the coming ten years. Many different industries, including healthcare, logistics, government and defence, process manufacturing, retail, education, and others use real-time location systems. Businesses may precisely track and keep track of the whereabouts of goods, people, and other objects in real-time by using real-time location systems (RTLS). This lowers the price of manual labour, boosts productivity, increases security and safety, streamlines operations, enhances customer service, increases data collecting accuracy, and aids in improved decision-making.

Real-time location systems (RTLS) are a range of technologies that make it possible to track and observe people or objects in real time. It is based on wireless technologies including RFID, Wi-Fi, ultra-wideband (UWB), infrared, ZigBee, and others. Healthcare, logistics and transportation, industrial production, process industries, government and defence, retail, education, and other sectors all use RTLS.

From 2021 to 2031, the real-time location systems (RTLS) market is projected to grow at a CAGR of 10.7%, when it is estimated to reach USD 18.1 billion..

High RFID and Wi-Fi tag costs, security issues relating to data privacy, and a lack of technological know-how among consumers are some of the things limiting its expansion. Further impeding the market's expansion is the difficulty in integrating RTLS with the current infrastructure. However, it is anticipated that there will be chances for the market to expand due to rising demand from healthcare, logistics and transportation, industrial manufacturing, process industries, government and defence, retail, and other sectors.

Awarepoint Corporation, Zebra Technologies Corporation, CenTrak Inc., STANLEY Healthcare, Honeywell International Inc., Sonitor Technologies AS, TeleTracking Technologies Inc., Ekahau Oy, Ubisense Group PLC, and Radiance are a few of the key industry participants.

Segment Analysis

The RFID Type to Emerge as the Most Lucrative Segment

The RFID, Wi-Fi, Ultrasound, Infrared, ZigBee, Ultra-Wide Band (UWB), and other product types are divided into segments that make up the global Real Time Location Systems (RTLS) market. RFID technology, which may be used to track and monitor a variety of assets in real-time, had the greatest market share of these sorts in 2020. Due to their expanding use across numerous industries, other varieties like Wi-Fi, Ultrasound, Infrared, Zigbee, and Ultra-Wide Band (UWB) are also gaining ground.

Healthcare is the Most Popular Application Segment.

Additional market categories for RTLS include those in healthcare, logistics and transportation, process manufacturing, government and defence, retail, education, and industrial manufacturing.. Due to the rising demand from healthcare organizations for GPS-based monitoring devices, the healthcare sector is predicted to grow at the greatest rate among these throughout the projection period. Additionally, RTLS is a key tool for enhancing patient care because it can be used to track patients' locations and vital signs.

North American region to render Adequate Financing Avenues

North America, South America, Asia Pacific, Europe, the Middle East, and Africa regions make up the majority of the worldwide RTLS market. Due to growing investments in technology and RTLS solutions, the presence of major market players in the region, as well as expanding RTLS market share, North America currently accounts for the greatest portion of the worldwide RTLS market. Due to rising industrial automation and the need for effective logistics solutions from nations like China, India, South Korea, Japan, and Australia, the Asia Pacific is anticipated to experience considerable expansion over the course of the projected period.

COVID-19 Impact and Market Status

The COVID-19 epidemic in 2020 significantly reduced demand for real-time positioning systems on a global scale. The epidemic has interfered with the supply chain, halting product manufacture and transportation. As a result, there have been fewer sales and decreased investments in several areas, including RTLS. The market is anticipated to dramatically recover in 2021 as economies start to open up and RTLS technology demand rises. There are now additional prospects for market expansion thanks to recent advances like the availability of vaccines. In the coming ten years, the market is anticipated to be driven by rising demand from many industries, including healthcare, logistics and transportation, industrial manufacturing, process industries, government and defence, retail, and education.

Latest Innovations in the Global Real -ime Location Systems Market: A Snapshot

• WhereNet Corporation, a developer of RTLS solutions for industrial and logistical operations that allowed customers to enhance asset usage by utilizing trustworthy real-time data, was bought by Zebra Technologies in 2019.

• In October 2021, Stanley Black & Decker and Eastman announced their partnership to provide power tools with a sustainable purpose..

Real-time Location System Market Scope

Key Segment of Real-Time Location System Market

By Type Overview (USD Billion)

• RFID
• Wi-Fi
• Ultrasound
• Infrared 
• ZigBee
• Ultra-Wide Band (UWB)
• Others 

By Application Overview (USD Billion)

• Healthcare 
• Transportation and Logistics 
• Retail Education 
• Retail Manufacturing 
• Process Industries  
• Government and Defence 
• Others 

By Region Overview (USD Billion)

North America 

• USA 
• Canada 

Asia Pacific

• China 
• India 
• Japan 
• Rest of Asia Pacific 

South America 

• Mexico 
• Brazil 
• Rest of North America 

Europe 

• Germany 
• France 
• UK 
• Rest of Europe

Middle East and Africa