The global real-time location systems market is estimated to grow from USD 6.03 billion in 2024 and is projected to reach USD 15.79 billion by 2029, at a CAGR of 21.2% during the forecast period. Real-time location systems (RTLS), also known as local positioning and tracking systems, are primarily used to automatically identify and locate the real-time position of objects/people in diverse environments and industries. RTLS tags or badges, attached to objects or worn by people, communicate wirelessly with fixed receivers/readers/or access points installed in the vicinity. Different wireless technologies, such as radiofrequency identification (RFID), wireless fidelity (Wi-Fi), ultrasound, infrared (IR), ultra-wideband (UWB), and Bluetooth Low Energy (BLE), are used in modern-day RTLS solutions, depending on the use case or application.The Market in North America is Expected to Grow at a Significant CAGR During the Forecast Period
Software segment is expected to grow with a significant CAGR during the forecast period.
By offering, the software segment held a significant share of the real-time location systems market in 2022. RTLS software is used in several industries, including healthcare, manufacturing, logistics, hospitality, and education. RTLS helps manage many purposes, including maximizing workflow efficiency, safety, wayfinding, and inventory and asset control. The web interface of RTLS software manages and oversees data, sensors, and elements and controls every reader device. The RTLS software web interface allows a real-time user-friendly monitoring system incorporating an intuitive autonomous rule engine that functions 24/7. All these features are expected to drive the software market growth during the forecast period.Yard, dock, fleet, and warehouse management & monitoring segment likely to gain a significant market share between 2024 and 2029.
Maximizing yard operations, loading docks, and gate check-in are vital for companies, although they can be labor-intensive and involve multiple authorization steps. RTLS solutions provide real-time intelligence to synchronize these operations, helping companies forecast with precision and maintain a steady flow of materials, parcels, and goods to their distribution centers or manufacturing plants at a lower cost. These solutions offer more thoughtful planning, increased yard throughput, and accurate real-time data, allowing optimized space planning and movement tracking. By managing the switcher and implementing fast gate systems, RTLS solutions can reduce costs by decreasing switcher deadhead time and increasing trailer moves.RTLS solutions are also beneficial in warehouse management, providing better visibility of assets and optimizing space usage. By efficiently using space, resources, and time, RTLS solutions can achieve higher throughput and eliminate operational errors. They also allow for flexible storage plans, promoting leaner operations and improved performance in end-use verticals.
Manufacturing & Automotive segment to gain the largest market share during the forecast period.
The manufacturing vertical includes automotive; aerospace; heavy equipment; and tire, glass, and other manufacturing companies. This vertical has a vast market potential for RTLS solutions mainly because of the increasing awareness about asset/staff safety and rapid industrialization, especially in developing regions such as Asia Pacific and RoW. The RTLS solution helps improve safety in manufacturing plants by tracking every movement of assets, staff, and vehicles. RTLS can also monitor the proximity between workers and forklifts, ensuring the safety of assets and the workforce by preventing accidents, collisions, and controlling overspeed. Moreover, the RTLS increases operational efficiency by optimizing workflows and improving employee productivity with the help of AI-integrated smart systems. RTLS can also be utilized in other applications, such as visitor location tracking, visitor wayfinding, staff location tracking, secure restricted areas, production/manufacturing process tracking, condition monitoring, cold chain monitoring, equipment tracking, evacuation, and emergency accountability.Europe is anticipated to gain a substantial market share by 2029.
Europe is projected to grow at a significant CAGR during the forecast period. The tremendous growth of the automotive and manufacturing industries in Europe is the major driving factor for developing the RTLS market in this region. The UK, Germany, and France are the major countries spending the highest on RTLS solutions in Europe. Additionally, the other European markets are slowly gaining traction with the gradual increase in the adoption of RTLS solutions. RTLS solutions will gain traction in the coming years as companies seek to integrate these solutions to improve their processes further and drive growth. Europe is one of the significant regions for research and development (R&D) in location-based solutions. Most of the individual customers or enterprises in Europe extensively use location-based and mapping services, driving the growth of the RTLS market in Europe.Breakdown of primaries
A variety of executives from key organizations operating in the real-time location systems market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.- By Company Type: Tier 1 - 45%, Tier 2 - 20%, and Tier 3 - 35%
- By Designation: C-level Executives = 35%, Directors = 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
- By Region: North America = 40%, Europe = 25%, Asia Pacific =30%, and RoW = 5%
Key players profiled in this report
Securitas Technology (Sweden), Zebra Technologies Corporation (US), HPE Aruba Networking (US), Impinj, Inc. (US), and Savi Technology (US), are the key players in the real-time location system market. These leading companies possess a robust portfolio of products and establish a strong presence in established and emerging markets. The study provides a comprehensive competitive analysis of these key players in the real-time location system market, presenting their company profiles, recent developments, and key market strategies.Research Coverage
This report has segmented the real-time location systems market based on offering, technology, application, vertical, and region. The real-time location systems market based on offerings has been segmented into hardware, software, and services. Based on technology, the market has been segmented into RFID, Wi-Fi, UWB, BLE, ultrasound, infrared, GPS, and other technologies.Based on application, the market has been segmented into inventory/asset tracking & management, personnel locating & monitoring, access control & security, environmental monitoring, yard, dock, fleet, & warehouse management & monitoring, supply chain management & automation, and others. Based on vertical, the market has been segmented into healthcare, manufacturing & automotive, retail, transportation & logistics, government & defense, education, oil & gas, mining, sports & entertainment, and other verticals. The study also forecasts the market size in four key regions - North America, Europe, Asia Pacific, and RoW.
Reasons to buy the report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the real-time location system market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (Increasing development of cost-effective and application-specific RTLS solutions by startups, rising adoption of RTLS tags for asset tracking to improve return on investment, growing emphasis on maintaining patient and staff safety in healthcare facilities, burgeoning demand for ultra-wideband-powered RTLS solutions due to high accuracy), restraints (data security and privacy concerns, high installation and maintenance costs), opportunities (rising need for efficient resource utilization and workflow optimization, increasing popularity of hybrid RTLS solutions, escalating adoption of healthcare IoT solutions
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the real-time location system market
- Market Development: Comprehensive information about lucrative markets - the report analyses the real-time location system market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the real-time location system market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Securitas Technology (Sweden), Zebra Technologies Corporation (US), and HPE Aruba Networking (US) among others.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Rtls Market, by Offering
7 Rtls Market, by Technology
8 Rtls Market, by Application
9 Rtls Market, by Vertical
10 Rtls Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent and Relevant Market
14 Appendix
List of Tables
List of Figures
Companies Mentioned
- Securitas Technology
- Zebra Technologies Corp.
- Hpe Aruba Networking
- Impinj, Inc.
- Savi Technology
- Airista
- Alien Technology, LLC
- Centrak, Inc.
- GE Healthcare
- Quuppa
- Qorvo, Inc.
- Sonitor Technologies
- Siemens AG
- Teletracking Technologies, Inc.
- Ubisense
- Blueiot (Beijing) Technology Co. Ltd.
- Midmark Corporation
- Litum
- Eliko
- Redpoint Positioning Corp.
- Link Labs, Inc.
- Pozyx
- Sewio
- Tracktio
- Visible Assets, Inc.
- Borda Technology
- Mysphera S.L.
- Secure Care Products, LLC
- Kontakt.Io
- Navigine
- Inpixon
- Kinexon
- Leantegra Inc.
- Nanjing Woxu Wireless Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 275 |
| Published | August 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 6.03 Billion |
| Forecasted Market Value ( USD | $ 15.79 Billion |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 34 |
