PUBLISHER: Allied Market Research | PRODUCT CODE: 1070674
PUBLISHER: Allied Market Research | PRODUCT CODE: 1070674
RTLS is not a specific type of system or technology; however, it is a goal that can be accomplished with a variety of systems for locating and managing assets. An important aspect of RTLS is the time at which assets are tracked, and this data can be used in different ways depending on the application. RTLS is used across many industries with specific applications such as employee tracking and high-value asset tracking. These applications can be found in manufacturing and mining industries however are the most prominent in the healthcare industry. These benefits of the RTLS systems drive the growth of the market. Furthermore, the global real time location system market is expected to experience growth due to development across commercial building types, education sector, and for safety of workforce purposes. In addition, emerging technologies such as auto-commissioning, the latest BLE version, and 5G are expected to have significant influence on the RTLS market.
The global Real Time Location System market is influenced by several factors such as rise in need for assets tracking, proliferation of smart phones, increase in adoption of business analytics, and diverse utility across applications. However, need for high investment and operational challenges are projected to hamper growth of the market. On the other hand, technology advancements such as cloud computing, artificial intelligence (AI), and blending of various new technologies of real time location system are estimated to be opportunistic for the growth of the market.
The Real time location system market is segmented on the basis of component, technology, industry vertical, and region. On the basis of component, the market is segmented into hardware, software, and services. According to the technology, the market is fragmented into Ultra-Wideband, WIFI, RFID, ZigBee, Infrared, and others. Depending on industry vertical, it is segregated into Retail, Healthcare, Manufacturing and Processing, Transportation & Logistics, and Others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global Real Time Location System market is dominated by key players such CenTrak, Decawave (Quorvo, Inc.), Lockheed Martin Corporation, Silicon Laboratories, Sonitor Technologies, Stanley Black & Decker, Inc., TeleTracking Technologies, Inc., Ubisense, Midmark RTLS Solutions, Inc., and Zebra Technologies Corp.
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