Real Time Location Systems in Transportation and Logistics Global Market Report 2024

The real time location systems in transportation and logistics market size has grown rapidly in recent years. It will grow from $5.3 billion in 2023 to $5.99 billion in 2024 at a compound annual growth rate (CAGR) of 13.03%. The growth observed during the historic period can be attributed to several factors, including the increasing demand for supply chain visibility, a growing need for efficient fleet management solutions, regulatory requirements driving compliance, and the rising adoption of Internet of Things (IoT) technologies within the transportation and logistics sector.

The real time location systems in transportation and logistics market size is expected to see rapid growth in the next few years. It will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The projected growth in the forecast period can be attributed to several key factors. These include the expansion of e-commerce, integration of artificial intelligence (AI) and machine learning technologies, the embrace of autonomous vehicles, a shift towards green logistics practices, and the rise in global trade. Major trends expected during this period include the increased use of blockchain technology for secure tracking of goods, the emergence of 5G technology for faster data transmission and connectivity, adoption of edge computing for real-time analytics and decision-making, implementation of augmented reality for enhanced navigation and operational efficiency, and the growth of predictive analytics for proactive decision-making in transportation and logistics operations.

The increasing adoption of automation within the manufacturing sector is poised to drive the growth of real-time location systems in the transportation and logistics market. Automation in manufacturing involves the utilization of technology and machinery to execute tasks traditionally performed by humans, with the aim of enhancing efficiency, productivity, and consistency in production processes. This uptick in automation adoption is fueled by the enhanced productivity, quality, flexibility, and cost-efficiency that automation technologies bring to the competitive and rapidly evolving manufacturing landscape. The integration of automation within the manufacturing sector presents opportunities for synergy with real-time location systems in transportation and logistics, facilitating more efficient and responsive supply chain operations tailored to meet the demands of modern manufacturing processes. For instance, findings from the International Federation of Robotics in September 2023 revealed a 5% increase in industrial robot installations worldwide compared to 2022, showcasing the growing prevalence of automation in factories and its impact on manufacturing operations. Consequently, the adoption of automation in the manufacturing sector is driving the expansion of real-time location systems in the transportation and logistics market.

Key players in the real-time location systems segment of the transportation and logistics market are directing their efforts toward the development of radio frequency identification (RFID) chips to bolster profitability. Chips such as the E710, E510, and E310 reader chips are crafted to empower the creation of RFID readers with diverse capabilities tailored to suit various applications and use cases. For example, Iminj Inc., a US-based company specializing in RAIN RFID solutions, introduced the E710, E510, and E310 reader chips in June 2021, offering exceptional performance and user-friendly features. These chips cater to the escalating demand for item connectivity across industries including retail, supply chain, logistics, and consumer electronics, enabling the design of IoT devices that foster connectivity and drive innovation across sectors.

In July 2022, Paragon ID, a France-based identification solutions company, acquired Tracktio, further solidifying its position in the real-time tracking solutions domain. This acquisition enables Paragon to expand its suite of real-time tracking solutions by incorporating additional technologies, thereby facilitating the development of a comprehensive geolocation platform that effectively integrates all available technologies. Tracktio, a France-based company specializing in real-time location system solutions, brings expertise in this domain, complementing Paragon's capabilities and enhancing its offerings in the transportation and logistics market.

Major companies operating in the real time location systems in transportation and logistics market are Zebra Technologies Corporation, Trimble Transportation, Samsung Networks, Geotab Inc., Samsara, Omnitracs LLC, Transporeon GmbH, Descartes Systems Group, CalAmp Corporation, Spireon, ORBCOMM Inc., Teletrac Navman, Verizon Connect, Lojack Corporation, Tyco Security Products, I.D. Systems Inc., Fleet Complete, Convergence Systems Limited, FourKites Inc., ThingMagic Inc., Geoforce Inc., Ubisense, Mojix, Airista Flow Inc., DecaWave Ltd., Essensium NV, CSR Group, Awarepoint Corporation, BeSpoon SAS, TrackX Holdings Inc.

North America was the largest region in the real time location systems in transportation and logistics market in 2023. The regions covered in the real time location systems in transportation and logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the real time location systems in transportation and logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Real-time location systems (RTLS) in transportation and logistics encompass technologies and solutions dedicated to tracking, monitoring, and managing the real-time location of assets, vehicles, and personnel within the industry. These systems offer precise and current information regarding the whereabouts and movements of assets across the supply chain, empowering logistics organizations to optimize routing, enhance fleet efficiency, and streamline transportation operations.

The primary components of real-time location systems in the transportation and logistics market include systems and tags. Systems encompass the overall infrastructure and software utilized for real-time tracking and management of asset or vehicle locations. These systems can be deployed on-premises or in the cloud and find application in various scenarios such as asset and inventory tracking, personnel tracking, and fleet management. They serve a diverse array of end-users, including logistics and transportation companies, retailers, manufacturing firms, and other stakeholders within the industry.

The real-time location systems in the transportation and logistics market research report is one of a series of new reports that provides real-time location systems in the transportation and logistics market statistics, including the real-time location systems in the transportation and logistics industry global market size, regional shares, competitors with a real-time location systems in the transportation and logistics market share, detailed real-time location systems in the transportation and logistics market segments, market trends and opportunities, and any further data you may need to thrive in the real-time location systems in the transportation and logistics industry. This real-time location system in the transportation and logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The real-time location systems in the transportation and logistics market consist revenues earned by entities through asset tracking, fleet management, route optimization, and supply chain visibility solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The real-time location systems in the transportation and logistics market includes of sales of wireless sensor networks, telematics systems, RFID tags, and readers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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