Market Overview
- The Global Real-Time Location System (RTLS) Market is expected to grow at a CAGR of 18% during the forecasting period (2020-2027).
- An RTLS system is a technology that tracks the geolocation of a range of objects in real-time. An RTLS is different from GPS in the sense that an RTLS system is confined in its geographical boundary of signal detection, whereas GPS provides global coverage. The signal used in an RTLS system can be radio frequency, or optical (infrared) or acoustic (ultrasound). However, the location information accessed by the RTLS system usually does not include speed, direction, or spatial orientation of any form.
- The report covers all the major trends and drivers playing a vital role in the growth of the global market. The market has been segmented based on region, component, technology, and industry verticals.
Download free sample: https://www.datamintelligence.com/download-sample/real-time-location-system-market
Market Dynamics
- The Global Real-Time Location System (RTLS) Market is expected to thrive, owing to the boom in the number of people owning smartphones. This is because of the extensive number of mobile applications dependent on GPS software in-built in smartphones. Another driver for the market would be the technological advancements in the field which improve efficiency, and at the same time cut component costs. Also, the fact that RTLS systems have the possibility of being used in different ways to address various inefficiencies is a major factor of growth.
- Also, Asset tracking is important in any industry. Real-time locating systems offer easy identification and tracking of assets which include tools, containers, medical equipment, and trailers. And for the military and defense sectors, it’s even more critical. Moreover, According to the Stockholm International Peace Research Institute (SIPRI), total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6 percent from 2017. The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India, and France, which together accounted for 60% of global military spending. Therefore, increasing military expenditure is further expected to fuel growth in the global RTLS market.
- However, the privacy and security concerns surrounding sharing a person’s location, high cost involved in the initial setup coupled with uncertainty clouding the returns which are to accrue over time by incorporating RTLS hinder the growth of the market.
Segment Analysis
- By Component, the Global Real-Time Location System (RTLS) Market is segmented into the Software Components and Hardware Components. Hardware is the major component used in setting up the RTLS, dominated this segment. Be that as it may, the technological advancements in this sector have led to a recent trend in the hardware (tags, sensors, etc.) prices falling which means although the sale volume is forecasted to rise, the sale value will not be seeing such growth.
- By Technology, the Global Real-Time Location System (RTLS) Market is classified into RFID, Bluetooth, Wi-Fi, GPS, and others. Radio-Frequency Identification (RFID) is further sub-segmented into Active RFID and Passive RFID. This segment is expected to be dominated by the Wi-Fi segment due to technological advancements in bandwidth improvement which has led to increased effectiveness. Another factor supporting the demand for Wi-Fi-based RTLS solutions is the low deployment cost as compared to its closest competitor, the RFID solutions.
- By Industry Verticals, the Global Real-Time Location System (RTLS) Market is segmented into Manufacturing, Logistics, Defence, Health Care, Electronics, and others. The Health Care industry is expected to show healthy growth in this segment with increasing incorporation of RTLS solutions to track missing equipment, patient activities, etc.
- The Logistics and Manufacturing segments are exploitable avenues for prospective manufacturers as there is an increasing need to track shipments in transit, and products in various of the supply chain. India, for example, is working on pushing manufacturing-friendly initiatives so that the contribution of the manufacturing sector to the Gross Domestic Product would reach 25% from the present 17%.
- Another industry vertical with the potential to dominate the Global Real-Time Location System Market is the Electronics Manufacturing Industry. As the demand for electronics in the form of smartphones, tablets, computers/laptops, etc. In 2018, for example, 1.5 billion smartphones were sold worldwide. This comes in line with the smartphone sales showing a steady increase in the tens of millions over the past few years.
Geographical Analysis
- By geography, the global Real-Time Location System (RTLS) market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
- In 2018, North America accounted for the highest growth rate because of the presence of high-profile RTLS solutions/RFID providers in the region. In America, for example, 96% of the high-profile retail stores have taken up measures to ensure their apparel is RFID tagged.
- The APAC region has also been forecasted to have a healthy growth rate, due to the rapidly increasing demand for smartphones, and a focus on developing the manufacturing sector in each country.
- In Europe, the RTLS market is expected to be fuelled by the fast pace of developments in the health care system. This accelerated demand for efficient health care is partly because of the anticipated increase in the number of patients that need to be taken care of, given that the ratio of older people to younger people is set to rise in Europe. According to the findings of an EU sponsored study, the EU-28’s median age is expected to rise by 4.5 years by 2080. This means, given the present demographic, there will be less than two persons of working age for every elderly person. This aging of the continent as a whole is forecasted to drive the demand for health care.
Competitive Analysis
- The Global Real-Time Location System (RTLS) Market is an extremely fragmented market with a high degree of competition existing among market players. This market is primarily technology-driven and any prospective market player would do well if investments in R&D are prioritized.
- Some major players in the market are Impinj, Teletracking Technologies, Ubisense Group, Zebra Technologies, Arista, Aruba Networks (Hp Enterprise), Awarepoint, Identec Group, and among others.
- Impinj Inc, a major market player has started following the trend of connecting products to the web and has started incorporating the Internet of Things into their RFID tags. Making an exclusive Impinj Platform so that consumers can view the state, location, and authenticity of a product in real-time was their way of establishing market presence.
- Ubisense Group has chosen to focus on improving the efficiency of the supply chain process in factories by emphasizing the importance of a digitally connected factory and its benefits. Keeping an eye on the future, the firm has started delivering customized solutions to make smart factories for the automotive industry. They are aimed at allowing the manufacturers to achieve efficient inventory control by making products, parts, and components visible and identifiable anytime and everywhere.
Key Takeaways:
- As the Global Real-Time Location System Market is expected to grow, given that it has just transitioned from a nascent stage, market players should focus on gaining product acceptance more.
- Firms providing RTLS Solutions are expected to shift to the trend incorporating a digital aspect in the services they provide, and building a firm-specific web application to access the products tagged by their tags would go a long way in establishing market presence.
- A major area to exploit is the logistics segment as product manufacturers have a lot to benefit from real-time information of inventory in-transit, primarily because it increases operating efficiency.
View full report: https://www.datamintelligence.com/research-report/real-time-location-system-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/real-time-location-system-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
Website: www.datamintelligence.com
The latest trending report Global Real-time Location System (RTLS) Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Real-time Location System (RTLS) market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Real-time Location System (RTLS) industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Real-time Location System (RTLS) and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/19395-real-time-location-systems-rtls-market-analysis-reportThe major players covered in Real-time Location System (RTLS) are: Stanley Healthcare Midmark RTLS CenTrak Ekahau Awarepoint Corporation Zebra Technologies Ubisense Group Intelleflex IBM TeleTracking Elpas GE Healthcare Savi Technology BeSpoon Axcess International Sonitor Technologies Identec Solutions TimeDomain Essensium AiRISTA ThingMagic Intelligent Insites RF Technologies Radianse SCHMIDT Plus Location Systems KINGDOES Mojix Locaris PINC SolutionsBy Type, Real-time Location System (RTLS) market has been segmented into: RFID Wi-Fi Ultrasound Infrared ZigBee Ultra-Wide Band (UWB) OthersBy Application, Real-time Location System (RTLS) has been segmented into: Healthcare Transportation and Logistics Industrial Manufacturing Process Industries Government and Defense Retail Education OthersThe report offers in-depth assessment of the growth and other aspects of the Real-time Location System (RTLS) market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia) South America (Brazil, Argentina, Colombia) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Real-time Location System (RTLS) Market @ https://www.decisiondatabases.com/contact/download-sample-19395There are 14 Chapters to deeply display the Global Real-time Location System (RTLS) market.1 Real-time Location System (RTLS) Market Overview2 Company Profiles3 Market Competition, by Players4 Market Size by Regions5 North America Real-time Location System (RTLS) Revenue by Countries6 Europe Real-time Location System (RTLS) Revenue by Countries7 Asia-Pacific Real-time Location System (RTLS) Revenue by Countries8 South America Real-time Location System (RTLS) Revenue by Countries9 Middle East & Africa Revenue Real-time Location System (RTLS) by Countries10 Market Size Segment by Type11 Global Real-time Location System (RTLS) Market Segment by Application12 Global Real-time Location System (RTLS) Market Size Forecast (2021-2025)13 Research Findings and Conclusion14 AppendixPurchase the complete Global Real-time Location System (RTLS) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-19395Other Reports by DecisionDatabases.com:Global Indoor Location System Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Location-Based Services (LBS) and Real Time Location Systems (RTLS) Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Indoor Location by Positioning Systems Market 2020 by Company, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
We provide intellectual, precise and meaningful data at a lightning speed.For more details:DecisionDatabases.comE-Mail: [email protected]: +91 9028057900Web: https://www.decisiondatabases.com/
Market SnapshotThe Global Real-Time Location System (RTLS) Market is Expected to grow at a 28.7% CAGR during the forecast period 2018–2028.Real-time location systems (RTLS) have applications in various industries such as healthcare, industrial manufacturing, retail, government and transportation & logistics, as these systems offers asset management, high efficiency, and enhanced workflow.
The global real-time location management systems market accounted for a market share of 1,875.2 Million in 2018 and is estimated to register a CAGR 28.7% during the forecast period 2019–2028, with a market value of 23,094.2 Million in 2028.
RTLS has shown potential to transform hospital processes such as asset temperature monitoring, bed capacity management, patient/provider workflow, patient elopement, security, and other location-dependent applications.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/8046Key PlayersThe key players of global real-time location system (RTLS) market are IBM Corporation, Zebra Technologies Corporation, STANLEY Healthcare, General Electric Company, Siemens AG, Airista Flow, Inc., Sonitor Technologies Inc., RF Technologies, Inc., IDENTEC SOLUTIONS, PLUS Location Systems USA, LLC, PINC Solutions, Radianse, Essensium, CenTrak, and TeleTracking Technologies, Inc.Market SegmentationThe global Real-Time Location System (RTLS) Market has been segmented on the basis of type, application, sales channel and region.
The global Real-Time Location System (RTLS) Market, by type, has been segmented into RFID, Wi-Fi, ultrasound, infrared, and ZigBee.The RFID segment accounted for the largest market share of USD 872.5 million in 2018 and is expected to register a CAGR of 26.7% during the forecast period.
The ultrasound segment is expected to register the highest CAGR of 31.0% during the forecast period.By application, the global real-time location system market has been segmented into healthcare, transportation and logistics, industrial manufacturing, government & defense, and retail.The healthcare sector offers a large number of applications for real-time location systems.
RTLS helps hospitals reduce inventory costs, reduce the time taken by nurses, technicians and other healthcare professionals to locate missing equipment, reduce the number of thefts of expensive medical equipment, and automate the maintenance process.
