Global Real Time Location Systems Market Overview:
“The global Real Time Location Systems 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.”
Real time location system (RTLS) is a technology that uses Wi-Fi, radio frequency identification (RFID) infrared sensors to identify or detect current position of a person, object or vehicle in building or confined area. Real time location systems are frequently used for fleet tracking, navigation, inventory tracking, and personnel tracking. Location tags such as ultra-wide band, Wi-Fi location band, infrared locating tag, RFID tags, etc. are embedded on objects so as to determine their position.
Increasing adoption in various sectors such as healthcare and manufacturing, and for warehouse management are major factors driving growth of the global real time location systems market. In addition, real-time location system provides improved accuracy, operational efficiency and workflow management which are some other factors fueling growth of the global real-time location systems market. Moreover, increasing adoption owing to reduced RTLS component prices is also contributing to growth of global real-time location systems market.
High installation cost is a major factor hampering growth of global real-time location systems market. In addition, growing privacy concerns and operational challenges like battery drain out, technical complications are slowing down adoption of real time location systems in the global market. Use of real time locations systems to track equipment’s in manufacturing sector is current trend seen, which is expected to drive growth of the market to a significant extent during the forecast period. Increasing application of real time location systems in hospitals to track doctors, machineries, etc. is expected to drive growth of the market.
North America is expected to dominate the global real-time location systems market during the forecast period owing to higher purchasing power, early adoption of this technology, and presence of major vendors in this region. The market in Asia Pacific is expected to register significant CAGR of XX.X% during the forecast period. The growth in this region can be attributed to increasing awareness and application of real time location systems in healthcare and industrial sectors.
Global Real Time Location Systems Market Segmentation:
Global real time location systems market segmentation by technology:
- Radio frequency identification (RFID)
- Ultra-wideband (UWB)
- Others (Zigbee, GPS, BLE, and WhereNet)
Global real time location systems market segmentation by component:
Global real time location systems market segmentation by region:
- 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
- AeroScout Industrial
- Awarepoint Corp.
- GE Healthcare
- Motorola Solutions
- PINC Solutions Corporation
- Sonitor Technologies
- TeleTracking Technologies
- Ubisense Group Plc
- Versus Technology Inc.
- Zebra Technologies
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