Real Time Location System Market

Real-time Location Systems Market size reached USD 3.7 billion in 2021 and is estimated to reach USD 20.8 billion in 2029 and the market is estimated to grow at a very high CAGR of 24.1% from 2022-2029

To have an edge over the competition by knowing the market dynamics and current trends of “Real Time Location System Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Rising demand for asset & inventory tracking, increasing use of smartphones, and growing adoption of advanced business intelligence software solutions are expected to drive the growth of the real time location system market over the forecast period. Additionally, widespread adoption of RTLS for several application including locating pallets of merchandise in a warehouse, tracking automobiles through an assembly line, asset tracking in a high-end retail location, ensuring proper staff levels, identifying customers in a restaurant for service, locating the medical equipment in a hospital, and other applications is further expected to propel the demand of real time location systems. Moreover, the emergence of the 4th industrial revolution with advancements in artificial intelligence (AI), the Internet of Things (IoT), and robotics and rising awareness pertaining to the benefits of RTLS in the supply chain management in healthcare, manufacturing & automotive, retail, and transportation & logistics verticals are expected to provide opportunities for the growth of the RTLS market share.

Restraint in the Real Time Location System Market

However, low awareness, high initial set up investment, and low maintenance cost are certain factors that are expected to hinder the growth of the RTLS market size during the forecasted period. In addition, increasing concerns regarding data security and privacy may further restraint the market growth of real time location systems (RTLS) market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Technology – Segment Analysis

Based on technology, RFID segment is expected to account for a significant market share primarily due to its several advantages including non-line-of-sight propagation in all directions, easy and quick detection of signals, penetrates non-metal solids, and works reliably in crowded environments.

Application – Segment Analysis

Based on application, inventory/asset tracking & management is projected to hold a prominent share in the market. This can be attributed to the increasing utilization of RTLS in several industries including manufacturing, healthcare, retail, automotive, and logistics among others for tracking available resources, reducing wastage of inventory during operations, minimizing the time spent finding misplaced assets, preventing theft and equipment losses.

Vertical – Segment Analysis

Based on the vertical, the healthcare segment is anticipated to witness faster CAGR over the forecast period owing to the increasing use of RTLS for automatically tracking the real-time geographic location of equipment, supplies, pharmaceuticals, staffs, and patients throughout the treatment. Moreover, according to the 2022 Hospital Vision Study of Zebra Technologies Corp., 96% of hospitals are planning to adopt RTLS to patients tracking, 98% are expected to adopt RTLS to track medical devices, while 97% want to expand the use of RTLS to improve staff operational efficiencies.​

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on region, North America is expected to account for a major share in the RTLS market share owing to the high demand of RTLS from the healthcare sector, manufacturing, retail, defence, and transportation sectors in the region. Moreover, presence of some of the leading players including Awarepoint Corporation, AeroScout Industrial, and Zebra Technologies Corporation is further escalating the market growth in the region.

Top Market Players

Several Leading players operating in the market include Sonitor Technologies, Airista Flow, Impinj Inc., Stanley Black & Decker, Inc., Savi Technology, TeleTracking Technologies, Inc., Aeroscout Industrial, Ubisense, Inpixon, and Zebra Technologies Corp., among others. 

Key Developments:

• • In 2020, Inpixon, the Indoor Intelligence Company, launched nanoLES 3.3, an advanced location engine server enabling ultra-wideband (UWB) and chirp spread spectrum (CSS) RTLS solutions for real-time positioning of people and devices.

Segments covered in the Report:

The global real time location system market has been segmented on the basis of technology, application, vertical, and regions. Based on technology, the market is segmented into RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, and others. Based on application, the market is segmented into inventory/asset tracking & management, personnel locating & monitoring, access control & security, environmental monitoring, warehouse management & monitoring, supply chain management, and others. Based on the vertical, the market is segmented into healthcare, manufacturing & automotive, retail, transportation & logistics, government & defence, education, oil & gas, sports & entertainment, and others. 

For detailed scope of the “Real Time Location System Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Real Time Location System Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Real Time Location System Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Real Time Location System Market?
  • Which application generated maximum revenues in 2021 and identify the most promising application during the forecast period?
  • What are the various technologies of global Real Time Location System Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Real Time Location System Market by Technology

• • RFID
  • Wi-Fi
  • Ultra-wideband (UWB)
  • Bluetooth Low Energy (BLE)
  • Ultrasound
  • Infrared (IR)
  • GPS
  • Others

Global Real Time Location System Market by Application

• • Inventory/Asset Tracking & Management
  • Personnel Locating & Monitoring
  • Access Control & Security
  • Environmental Monitoring
  • Warehouse Management & Monitoring
  • Supply Chain Management
  • Others

Global Real Time Location System Market by Vertical

• • Healthcare
  • Manufacturing & Automotive
  • Retail
  • Transportation & Logistics
  • Government & Defence
  • Education
  • Oil & Gas
  • Sports & Entertainment
  • Others

Global Real Time Location System Market by Region

• • North America Real Time Location System Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Application
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Real Time Location System Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Application
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europ Market All-Up
  • Asia-Pacific Real Time Location System Market (Option 3: As a part of the free 25% customization)
    • By Technology
    • By Application
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Real Time Location System Market (Option 4: As a part of the free 25% customization)
    • By Technology
    • By Application
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Real Time Location System Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sonitor Technologies
  • Airista Flow
  • Impinj Inc.
  • Stanley Black & Decker, Inc.
  • Savi Technology
  • TeleTracking Technologies, Inc.
  • Aeroscout Industrial
  • Ubisense
  • Inpixon
  • Zebra Technologies Corp.