The increasing need to track and monitor assets and employees in real-time is anticipated to be opportunistic for the real-time location systems (RTLS) market
The global real-time location systems (RTLS) market size is projected to reach over USD 13 billion by 2025. In addition, it is anticipated to gather a CAGR of over 24% over the forecast period 2018-2025. A real-time location system (RTLS) identifies and discovers the location of objects and people in real-time. RTLS comprises a wireless tag that is attached or integrated with objects or individuals. Hence, the signals transported from such tags are sent to a fixed location, which in turn assists in finding the exact location of the object or individual. The real-time location system encompasses sensors, battery-powered tags, application software, network infrastructure, and location readers.
The current and future real-time location systems (RTLS) market advances are defined to state the attractiveness of the market. Key impacting aspects focus on real-time location systems (RTLS) of market opportunities during the forecast period. Factors such as the increasing regulatory compliances across several industries are driving the market growth. In addition, the increasing need to track and monitor assets and employees in real-time is also boosting the 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.
The report also highlights various aspects of the global real-time location systems (RTLS) industry by analyzing the market through value chain analysis. Besides, the real-time location systems (RTLS) market report covers different qualitative aspects of the real-time location systems (RTLS) industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The real-time location systems (RTLS) market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
Based on the technology segment, the market is segmented into ultra-wideband, Bluetooth, infrared, Wi-Fi, RFID, 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 cost efficiency is also the major factor driving the adoption of ultra-wideband based RTLS technology. In addition, the growth of this segment is primarily accredited to its wide range of detection and tracking capabilities.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast period due to the increasing need for cost-efficient identity security solutions. However, 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.
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. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and technologies to stay competitive in the global market.
Segment Overview of 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)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America