Global Real-time Locating Systems (RTLS) Market Outlook
"The Real-time Locating Systems (RTLS) Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
This report is based on the synthesis, analysis, and interpretation of various sources of information gathered regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact to make informed forecasts about the scenarios in future.
Real-time locating systems are used to automatically track location of people and/or objects on real time basis. RTLS are a type of local positioning systems, and are useful in tracking people, automobiles, etc.
Technological advancements in electronic devices leading to miniaturization of products and increasing demand for rea-time locating system (RTLS) from various industry vertical are major factors driving growth of the global real-time locating systems market. In addition, growing demand from E-commerce sector in order to track the location of the shipment or product in order to improve the service delivery. Moreover, increasing internet penetration and increasing number of mobile phones and smart wearable device users in developing countries such as India and China, which in turn is expected to support growth of the global real-time locating systems market.
However, technological glitches such as faulty sensors, and lack of internet facility are major factors expected to restrain growth of the global real time locating systems market.
However, increasing R&D activates to develop innovative products with cost-effectiveness by major players is expected to create new opportunities in terms of revenue to players operating in the global real-time locating systems market over the forecast period.
The real-time locating systems market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to rising internet penetration, growing e-commerce sector, increasing users for mobile phones and smart wearables, and presence of major manufacturers in countries in the region. According to Indian Brand Equity Foundation, internet users in India are expected to increase from 429.23 million to 829 million by 2021.
The markets in North America and Europe are expected to account for significant revenue shares in the global market. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing adoption of the product from transportation and retail sectors in economies in this region.
Global Real-time Locating Systems (RTLS) Market Segmentation:
- Infrared (IR)
- Inventory/Asset - Tracking & Management
- Personnel/Staff - Locating & Monitoring
- Access Control/Security
- Environmental Monitoring
- Supply Chain Management & Operational Automation/Visibility
By Industrial Vertical:
- Transportation & Logistics
- Manufacturing & Processing
- Others (government & defense, education, oil & gas, mining, and sports & entertainment)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- STANLEY Healthcare
- Zebra Technologies Corporation
- Aruba Networks
- Impinj, Inc.
- TeleTracking Technologies
- CenTrak, Inc.
- AiRISTA Flow, Inc.
- Sonitor Technologies
- Versus Technology
- Identec Group
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