A real-time location system (RTLS) is a technology that helps in tracking and assets/things or people in real-time. Real-time location systems (RTLS) comprise two key types of RTLS that are proximity-based RTLS and precision-based RTLS. The precision-based RTLS is deployed either via WiFi-based technology or ultra-wideband. Precision RTLS enables the exact detection of assets and mainly used in inventory management. On the contrary, the proximity-based RTLS is ideal for small locations and does not require a precise location.
The global Real-Time Location Systems (RTLS) market worth USD 61.72 Billion by 2030, growing at a CAGR of 27.19 %
The global real-time location systems (RTLS) market size is projected to reach over USD 13 Billion by 2025. This can be attributed to the increasing regulatory compliances across several industries. Also, the increasing need to track and monitor assets and employees in real-time is boosting global Real-Time Location Systems (RTLS) market growth.
However, the growing concerns about privacy and data security are likely to hamper the market growth. Furthermore, the increasing demand among developing countries is anticipated to be opportunistic for the market.
Real Time Location Systems Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 61.72 Billion|
|Growth Rate||CAGR of 27.19 % during 2022-2030|
|Segment Covered||By Type, By Technology, Application, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||IBM corporation, Zebra Technologies Corporation, STANLEY corporation, General Electric Company, Siemens AG, Airista Flow Inc., Sonitor Technologies Inc., RF Technologies Inc, PINC Solutions, IDENTEC Solutions, Radiance, CenTrak, PLUS Location Systems USA, TeleTracking Technologies Inc|
Key Segment Of The Real-Time Location Systems (RTLS) Market
By Type, 2022-2030 (USD Million)
By Technology, 22022-2030 (USD Million)
• Radio Frequency Identification (Rfid)
• Ultra Wideband (Uwb)
• Bluetooth Low Energy (Ble)
• Infrared (Ir)
By Application, 2022-2030 (USD Million)
• Personnel/Staff Locating And Monitoring
• Access Control And Security
• Environmental Monitoring
• Supply Chain Management
• Operational Automation/Visibility
• Warehouse Management And Monitoring
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
From locating and detecting assets in a warehouse/factory and hospital, to monitor which workers are on-site and tracking there in and out time, there are wide ranges of applications of real-time location systems in various organizations. Also, it also helps organizations in time tracking, employee safety, collecting data on vendors, shipment monitoring, and several other tasks. Moreover, the real-time location system (RTLS) is highly fragmented as the majority of players are offering the location Wi-Fi and products globally. The RTLS further helps in improved operations and enhanced productivity which in turn driving the adoption of RTLS solutions and driving the market growth.
Based on the technology segment, the market is segmented into ultra-wideband, Wi-Fi, RFID, Bluetooth, infrared, GPS, and others. The other technologies comprise ZigBee and ultrasound. In the year 2019, the ultra-wideband segment accounted for the highest growth and it is expected to hold its position over the forecast period. The growth of this segment is primarily accredited to its wide range of detection and tracking capabilities. Also, cost efficiency is the major factor driving the adoption of ultra-wideband based RTLS technology.
Based on the application, the market is classified into asset-tracking & management, employee/staff tracking & monitoring, access control, visualization & mapping, and others. The asset-tracking & management segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. The market growth in this segment is primarily attributed to the increasing demand for asset tracking solutions among numerous industries.
Industry Vertical Segment
In terms of industry vertical segment, the market is segmented into healthcare, retail, transportation & logistics, retail, oil & gas, mining, and others. The healthcare segment accounted for the major market share in 2019 and it is projected to do so over the forecast period. The growth of this segment is mainly accredited to increasing the need for keeping track of healthcare personnel and equipment. However, the oil & gas, mining segment is projected to accumulate major growth in forthcoming years.
The North American region dominated the overall market in 2019 and it is projected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the growing adoption of real-time location systems across the healthcare sector in this region. However, the Asia-Pacific region is projected to accumulate the highest growth during the forecast period.
The major players of the global real-time location systems (RTLS) market are Hewlett Packard Enterprise Development LP, Ubisense Group, Savi Technology, DecaWave, GE Healthcare, Cisco Systems, STANLEY Healthcare, TeleTracking Technologies, Zebra Technologies, and Awarepoint. Moreover, the other prospective players in the real-time location systems (RTLS) market are Visible Assets, CenTrak, Mojix, AiRISTA Flow, and Tracktio. The real-time location systems (RTLS) market comprises well established local as well as global players. Also, the previously recognized market players are coming up with new and advanced strategic solutions and technologies to stay competitive in the global market.