Real Time Location System (RTLS) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Report Scope

This report analyzes the global real time location system (RTLS) market in terms of technology, end-use vertical, and geography. On the basis of end-use vertical, the global market for real time location system is segmented into healthcare, transportation and logistics, industrial manufacturing and processing, government, hospitality, retail, and others (education, etc.). Similarly, on the basis of technology, the global real time location system (RTLS) market is further classified into RFID, Wi-Fi, ZigBee and UWB (Ultra-wideband), ultrasound, infrared, and others (Hybrid Technologies, GPS, etc.). The geographical distribution of the global real time location system market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Overview:

The mounting pressure on businesses to achieve operational efficiencies, sustain profit margins, and enhance customer satisfaction in order to ensure healthy market position have collectively triggered demand for real time location systems across multiple industry verticals. The ability of RTLS solutions to track assets and solve other wide range of operational issues in real-time makes them an integral component of business processes. Furthermore, government initiatives and heavy investments in the RTLS technology are collectively favoring the market growth, especially in developed economies. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 38.6% during the forecast period 2021 - 2029. However, lack of interoperability between various technology infrastructures coupled with the lack of awareness regarding the benefits offered have hampered the swift growth of real time location system market across the globe.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled “Real Time Location System (RTLS) Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global real time location system market.

1.1.1 Target Audience

• Industry Investors
• RTLS Solutions Providers
• Integrators and Assemblers
• End-users

1.1.2 USP and Key Offerings

The report titled “Global Real Time Location System (RTLS) Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” offers strategic insights into the global Real Time Location System (RTLS) market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on end-use vertical, technology, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the Real Time Location System (RTLS) vendors, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive sub-markets within the real time location system market
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global real time location system (RTLS) market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.

Real Time Location Systems have become an integral component in today’s businesses that are required to achieve operational efficiencies, sustain profit margins, and enhance customer satisfaction in order to remain competitive in the market. In addition, today’s sophisticated business models where customers are demanding and workforce is more mobile have further necessitated demand for real time location systems in varied verticals. Based on end-use vertical, the real time location system (RTLS) market is categorized into following segments:

• Healthcare
• Transportation and Logistics
• Industrial Manufacturing and Processing
• Government
• Hospitality
• Retail
• Others (Education, etc.)

The healthcare segment dominated the global real time location system market in base year 2019. The segment accounted for over 40% of the global real time location system market revenue in the same year. The trend shall prolong and the segment is presumed to witness steady growth on account of controlled growth in patient monitoring and asset tracking applications. Majority of the healthcare facilities deploy Wi-Fi-based RTLS solutions to locate the position of several assets within the campus.

On the basis of business processes and application requirements, end users have the flexibility to decide from the wide range of technologies available. Based on different technologies employed, the global real time location system market is segmented into following categories

• RFI
• Wi-Fi
• ZigBee and UWB
• Ultrasound
• Infrared
• GPS
• Others (Bluetooth, Hybrid Technologies)

In terms of technology, the RFID (Radio Frequency Identification) segment led the global real time location system market in base year 2019. The segment accounted for over 38 percent of the global real time location system market revenue in the same year. However, other technologies including Wi-Fi, ZigBee and UWB are presumed to witness greater adoption than RFID technology during the forecast period. ZigBee and UWB technologies help industrial manufacturers to improve efficiency of their everyday operations, thereby reducing the operational cost to a great degree. Thus, these technologies are expected to witness maximum adoption across industrial manufacturing and processing industries. On the other hand, Wi-Fi based real time location systems are presumed to witness steady growth since these solutions eliminate the need for a proprietary wireless infrastructure, thereby improving payback.

On the basis of geography, the global real time location system (RTLS) market is segmented into following regions and countries.

• North America
• U.S.
• Rest of North America
• Europe
• United Kingdom
• France
• Germany
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Australasia
• Rest of Asia Pacific
• Rest of the World
• Latin America
• Middle East and Africa

North America comprising Canada and the U.S. is currently the largest real time location system market. The region accounted for over 35% of the global market revenue in base year 2019. The market for real time location systems in North America is majorly driven by strong demand from the healthcare sector. The presence of sophisticated healthcare infrastructure has been instrumental in driving uptake of real time location systems for medical applications. Overall higher acceptance to technology has ensured greater adoption in North America. The trend is expected to continue and the region is presumed to hold on to its leading position throughout the forecast period 2021 - 2029. However, Asia Pacific is expected to witness maximum growth during the forecast period 2021 - 2029 led by growing adoption in varied industry verticals across Chinese and Indian markets.


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