REPORT HIGHLIGHT
Real-time Location Systems Market size was valued at USD 5,047.7 Million in 2022, expanding at a CAGR of 21.3% from 2023 to 2030.
Real-Time Location Systems (RTLS) are technology-based systems used to track and identify the real-time location of objects or people within a defined area. These systems leverage various technologies such as radio frequency identification (RFID), global positioning system (GPS), Bluetooth, etc.
Real-time Location Systems Market- Market Dynamics:
Growing demand for asset tracking, safety & security is expected to propel the Real-time Location Systems demand.
To enhance asset monitoring and management, several industries, including healthcare, manufacturing, and logistics, are implementing RTLS. With the help of this technology, businesses can keep an eye on the whereabouts and movement of important assets in real time, which improves connectivity and lowers expenses. Real-time personnel tracking is made possible by RTLS in sectors where employee safety is essential, such as mining, construction, and oil & gas. This enables enterprises to safeguard the security of their workers while responding rapidly to catastrophes. RTLS is being used more frequently by hospitals and other healthcare facilities to enhance employee connectivity, patient care, and asset management. RTLS aids in finding medical supplies, monitoring patients, and streamlining workflow in medical facilities.
The use of RTLS have become more feasible and economical as wireless technologies, such as Wi-Fi, Bluetooth, and UWB (Ultra-Wideband), continue to advance. Better precision, longer battery life, and lower infrastructure costs are all benefits of these technologies.
Real-time Location Systems Market- Key Insights:
- As per the analysis shared by our research analyst, the global Real-time Location Systems market is estimated to grow annually at a CAGR of around 21.3% over the forecast period (2023-2030)
- The Real-time Location Systems industry is projected to grow at a significant rate due to the growing focus on construction.
- Based on Technology, RFID segment was predicted to show maximum market share in the year 2022.
- Based on End User, healthcare segment is expected to hold significant market share by 2030.
- Based on Component segmentation, hardware segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Real-time Location Systems Market- Segmentation Analysis:
The Global Real-time Location Systems Market is segmented on the basis of Component, Technology, End User, and Region.
The market is divided into two categories based on Component: hardware and software. The hardware segment dominates the market. Increasing demand for location devices such as GPS system, sensors-based devices is contributing to market growth.
The market is divided into four categories based on Technology: Bluetooth, Wi-Fi, RFID, and others. The Bluetooth segment dominates the market. Increasing demand from rubber materials is expected to boost the market growth.
The market is divided into six categories based on End User: healthcare, manufacturing, retail, transportation, oil & gas, and others. The healthcare segment dominates the market. The rising public health emergencies post COVID-19 is increasing the segment growth.
Real-time Location Systems Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Real-time Location Systems Market- Competitive Landscape:
Owing to the rapid development in transportation, and rising demand from oil & gas sector, which influence the real-time location systems market. Several manufacturers sell their Components through, including corporate websites, and solution providers, are used by businesses to sell their solutions & products. Component manufacturers compete on various factors, such as material pricing, performance, composite creation, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and expand their market share include new product launches, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In March 2022, SICK AG, a manufacturer of sensor has expanded its portfolio of localization devices with the help from Sewio, a Czech start-up with substantial experience with ultra-wideband (UWB) technology.
Key features of the study:
- This proposed research study on Real-time Location Systems market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Real-time Location Systems market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Real-time Location Systems market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Real-time Location Systems market
- Impact of COVID-19 on Real-time Location Systems market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Real-time Location Systems market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Real-time Location Systems market, we have also included competitive landscape and key innovator analysis for the Real-time Location Systems market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial inspection and strategic initiatives of players operating in the Real-time Location Systems market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Real-time Location Systems market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL REAL-TIME LOCATION SYSTEMS MARKET KEY PLAYERS
- AeroScout
- Zebra Technologies Corporation
- CenTrak, Inc.
- Ubisense Group PLC
- Impinj, Inc.
- Awarepoint Corporation
- Savi Technology
- Sonitor Technologies AS
- Decawave Ltd
- Identec Group AG
- AiRISTA Flow
- TeleTracking Technologies, Inc.
- Redpine Signals, Inc.
- PLUS Location Systems
- Radianse
- Alien Technology Corporation
GLOBAL REAL-TIME LOCATION SYSTEMS MARKET, BY COMPONENT
GLOBAL REAL-TIME LOCATION SYSTEMS MARKET, BY TECHNOLOGY
- Bluetooth
- Wi-Fi
- RFID
- Others
GLOBAL REAL-TIME LOCATION SYSTEMS MARKET, BY END USER
- Healthcare
- Manufacturing
- Retail
- Transportation
- Oil & gas
- Others
GLOBAL REAL-TIME LOCATION SYSTEMS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA