Real-time Location Systems (RTLS) Market Size was valued at USD 5.05 billion in 2022, and expected to reach USD 32.94 billion by 2030, and grow at a CAGR of 26.4% over the forecast period 2023-2030.
The easy integration of the system, the high flexibility, and the accuracy provided by improved performance encouraged the growth of the Real Time Location System in the market. Also, the growing need for miniaturization and paradigm shift globalization accelerates market development and smart product productivity. In the Real-time Location System market, costs are lowered through job creation with the help of research and development. The rapid growth of artificial intelligence, advanced automotive vehicles, and commercial development opens up various opportunities in the Real Time Location System market. With such a thriving market, the Real-Time Location System market is expected to grow again by the forecast period to 2028.
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KEY DRIVERS:
The availability of cost-effective RTLS solutions has increased as market competition has increased.
Rise in regulations in various industries to improve safety, workflow, and security to drive.
RESTRAINTS:
Huge cost of installation and maintenance.
Disappointing results and negative feedback from End-Users.
OPPORTUNITIES:
Development of Hybrid RTLS solutions.
Industry 4.0, the Internet of Things, and smart manufacturing are on focused.
CHALLENGES:
The RTLS market lacks in standards.
Lack of understanding regarding RTLS solutions and a skilled workforce.
COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
The RTLS market has been experiencing significant growth over the years, largely due to the high adoption of RTLS solutions in healthcare, manufacturing and automotive, retail, transport and logistics and growing acquisitions in emerging operating environments. However, COVID-19 has led to lockdown in various countries, which has led to a decrease in demand for RTLS devices from a variety of specific areas, including manufacturing, automotive, retail, health care, transportation and consumption. However, in the current situation, the negative impact of COVID-19 appears to have diminished, and companies are embracing RTLS technology worldwide.
By Industry, the Real-time Location System (RTLS) market is subdivided into Healthcare, Transportation and logistics, Oil & gas, mining, Sports & entertainment, Manufacturing and automotive, Retail, Government and defense, Education and Others. It is forecasted that health care sector will dominate the market. The healthcare Industry is expected to continue to calculate the largest market size during the forecast period. The growth of health care is due to the early adoption of RTLS-based solutions for a comprehensive healthcare system.
BY OFFERING
Hardware
Software
Services
BY TECHNOLOGY
Radio Frequency Identification (RFID)
Ultra-Wideband (UWB)
Infrared (IR)
GPS
Wi-Fi
Bluetooth Low Energy (BLE)
Ultrasound
Others
BY APPLICATION
Inventory/asset tracking and management
Access control and security
warehouse management and monitoring
Personnel/staff locating and monitoring
Environmental monitoring
Others
BY INDUSTRY
Healthcare
Transportation and logistics
Oil & gas, mining
Sports & entertainment
Manufacturing and automotive
Retail
Government and defense
Education
Others
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North America is expected to have the largest share of the RTLS market by 2028. Electronic gaints in the North American region adopted RTLS technology. The company introduced next-generation RAIN RFID learning chips that allow IoT device makers to meet the ever-increasing demand for product connectivity, supply chain and equipment. Also, TeleTracking Technologies has introduced SynapseIQ, a powerful, cloud-based, analytics solution that brings real-world understanding and business visibility to all health systems with timely data. The solution helps to increase staff accountability across organizations, reduce operating costs, and increase the efficiency of the entire system.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the Real-time Location Systems (RTLS) Market are Stanley Black & Decker, BlueIOT, Zebra Technologies Corporation, Siemens AG, Sonitor Technologies Inc, PINC Solutions, Radiance, PLUS Location Systems USA, Aruba Networks, IBM corporation, General Electric Company, Airista Flow Inc., RF Technologies Inc, IDENTEC Solutions, CenTrak, TeleTracking Technologies Inc and Other.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.05 Billion |
| Market Size by 2030 | US$ 32.94 Billion |
| CAGR | CAGR of 26.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Offering (Hardware, Software, Services) • By Equipment (Heavy And Compact Construction Equipment) • By Technology (Radio Frequency Identification (RFID), Ultra-Wideband (UWB) , Infrared (IR), GPS, Wi-Fi, Bluetooth Low Energy (BLE), Ultrasound, Others), • By Industry (Healthcare, Transportation And Logistics, Oil & Gas, Mining, Sports & Entertainment, Manufacturing And Automotive, Retail, Government And Defense, Education, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Stanley Black & Decker, BlueIOT, Zebra Technologies Corporation, Siemens AG, Sonitor Technologies Inc, PINC Solutions, Radiance, PLUS Location Systems USA, Aruba Networks, IBM corporation, General Electric Company, Airista Flow Inc., RF Technologies Inc, IDENTEC Solutions, CenTrak, TeleTracking Technologies Inc and Other. |
| Key Drivers | • The availability of cost-effective RTLS solutions has increased as market competition has increased. • Rise in regulations in various industries to improve safety, workflow, and security to drive. |
| RESTRAINTS | • Huge cost of installation and maintenance. • Disappointing results and negative feedback from End-Users. |
The market value will be expected to reach USD 20.6 billion by 2028, and grow at a CAGR of 26.4% over the forecast period 2022-2028.
The RTLS market has been experiencing significant growth over the years, largely due to the high adoption of RTLS solutions in healthcare, manufacturing and automotive, retail, transport and logistics and growing acquisitions in emerging operating environments. However, COVID-19 has led to lockdown in various countries, which has led to a decrease in demand for RTLS devices from a variety of specific areas, including manufacturing, automotive, retail, health care, transportation and consumption.
The key players in the Real-time Location Systems (RTLS) Market are Stanley Black & Decker, BlueIOT, Zebra Technologies Corporation, Siemens AG, Sonitor Technologies Inc, PINC Solutions, Radiance, PLUS Location Systems USA, Aruba Networks, IBM corporation, General Electric Company, Airista Flow Inc., RF Technologies Inc, IDENTEC Solutions, CenTrak, TeleTracking Technologies Inc and Other.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Real-time Location Systems (RTLS) Market Segmentation, by Offering
8.1Introduction
8.2 Hardware
8.3 Software
8.4 Services
9. Real-time Location Systems (RTLS) Market Segmentation, by Technology
9.1 Introduction
9.2 Radio Frequency Identification (RFID)
9.3 Ultra-Wideband (UWB)
9.4 Infrared (IR)
9.5 GPS
9.6 Wi-Fi
9.7 Bluetooth Low Energy (BLE)
9.8 Ultrasound
9.9 Others
10. Real-time Location Systems (RTLS) Market Segmentation, by application
10.1 Introduction
10.2 Inventory/asset tracking and management
10.3 Access control and security
10.4 warehouse management and monitoring
10.5 Personnel/staff locating and monitoring
10.6 Environmental monitoring
10.7 Others
11. Real-time Location Systems (RTLS) Market Segmentation, by Industry
11.1 Introduction
11.2 Healthcare
11.3 Transportation and logistics
11.4 Oil & gas, mining
11.5 Sports & entertainment
11.6 Manufacturing and automotive
11.7 Retail
11.8 Government and defense
11.9 Education
11.10 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 Zebra Technologies Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Stanley Black & Decker
13.3 BlueIOT
13.4 Siemens AG
13.5 Sonitor Technologies Inc
13.6 PINC Solutions
13.7 Radiance
13.8 PLUS Location Systems USA
13.9 Aruba Networks
13.10 IBM corporation
13.11 General Electric Company
13.12 Airista Flow Inc.
13.13 RF Technologies Inc
13.14 IDENTEC Solutions
13.15 CenTrak
13.16 TeleTracking Technologies Inc
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15.Conclusion
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