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 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 2028||USD 13 Billion|
|Growth Rate||CAGR of 24% during 2021-2028|
|Segment Covered||Technology, Application, Industry Vertical, Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Hewlett Packard Enterprise Development LP, Ubisense Group, Savi Technology, DecaWave, GE Healthcare, Cisco Systems, STANLEY Healthcare, TeleTracking Technologies, Zebra Technologies, and Awarepoint.|
Key Segments of the Global Real-Time Location Systems (RTLS) Market
Technology Overview, 2018-2025 (USD Billion)
Application Overview, 2018-2025 (USD Billion)
- Asset-Tracking & Management
- Employee/Staff Tracking & Monitoring
- Access Control
- Visualization & Mapping
Industry Vertical Overview, 2018-2025 (USD Billion)
- Transportation & Logistics
- Oil & Gas, Mining
Regional Overview, 2018-2025 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global real-time location systems (RTLS) market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global real-time location systems (RTLS) market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the real-time location systems (RTLS) industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on technology, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global real-time location systems (RTLS) market. The report will benefit: Every stakeholder involved in the real-time location systems (RTLS) market.
- Managers within the real-time location systems (RTLS) industry looking to publish recent and forecasted statistics about the global real-time location systems (RTLS) market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global real-time location systems (RTLS) market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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.