The South & Central America real-time location systems market was valued at US$ 240.28 million in 2022 and is expected to reach US$ 1.78 billion by 2030; it is estimated to record a CAGR of 28.4% from 2022 to 2030 .
Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of 5G network is expected to create lucrative opportunities for the real-time location systems market during the forecast period.
Similarly, in May 2023, VINCI Airports announced that it had started working on modernization and expansion of Boa Vista Airport in Roraima, Brazil. It will include full renovation of the runway and the doubling of the passenger terminal area by expanding the departure lounge. The construction work is expected to be completed in the second half of 2024. Such construction activities need real-time location system to locate the equipment and workers on sight, which help ensure everything runs smoothly. These developments are anticipated to flourish the growth of the real-time location system market in the coming years.
The automotive sector in the region is witnessing strong growth. It is seen that various global automobile players are expanding their manufacturing facilities in the region. For instance, in February 2022, Chinese automaker Chery announced its plan to produce battery electric vehicles (BEV) in Argentina, with a production target of 50,000 units annually. In addition, the region houses the manufacturing facilities of several automotive players, such as Fiat, General Motors, Honda, Volkswagen, Renault, and Peugeot.
Thus, the growing automotive industry in the region is expected to fuel the demand for real-time location systems as they help improve inventory management, tool and equipment tracking, damage detection, and many more. Hence, the growth of construction and automotive industries is further expected to fuel the growth of the real-time location system market during the forecast period.
Emergence of 5G Fuels South & Central America Real-Time Location Systems Market
The 5G network is ∼ 100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. According to Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing across the world. Therefore, the governments of various countries are investing in 5G infrastructure.Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of 5G network is expected to create lucrative opportunities for the real-time location systems market during the forecast period.
South & Central America Real-Time Location Systems Market Overview
The real-time location system market in SAM is segmented into Brazil, Argentina, and the Rest of SAM. With government support and foreign direct investments in countries in SAM, the region is witnessing an increase in infrastructure development. This has led to the growing construction of manufacturing facilities, commercial complexes, shopping malls, hospitals, educational institutions and universities, and government offices. For instance, in October 2022, Ardagh Glass announced its plan to construct its Brazilian glass manufacturing facility. The construction was set to start in November 2022, and the facility is expected to be operational by the end of 2023.Similarly, in May 2023, VINCI Airports announced that it had started working on modernization and expansion of Boa Vista Airport in Roraima, Brazil. It will include full renovation of the runway and the doubling of the passenger terminal area by expanding the departure lounge. The construction work is expected to be completed in the second half of 2024. Such construction activities need real-time location system to locate the equipment and workers on sight, which help ensure everything runs smoothly. These developments are anticipated to flourish the growth of the real-time location system market in the coming years.
The automotive sector in the region is witnessing strong growth. It is seen that various global automobile players are expanding their manufacturing facilities in the region. For instance, in February 2022, Chinese automaker Chery announced its plan to produce battery electric vehicles (BEV) in Argentina, with a production target of 50,000 units annually. In addition, the region houses the manufacturing facilities of several automotive players, such as Fiat, General Motors, Honda, Volkswagen, Renault, and Peugeot.
Thus, the growing automotive industry in the region is expected to fuel the demand for real-time location systems as they help improve inventory management, tool and equipment tracking, damage detection, and many more. Hence, the growth of construction and automotive industries is further expected to fuel the growth of the real-time location system market during the forecast period.
South & Central America Real-Time Location Systems Market Segmentation
- The South & Central America real-time location systems market is categorized into offering, technology, industry vertical, application, and country.
- Based on offering, the South & Central America real-time location systems market is categorized into hardware, software, and services. The hardware segment held the largest market share in 2022.
- By technology, the South & Central America real-time location systems market is segmented into RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment held the largest market share in 2022.
- In terms of industry vertical, the South & Central America real-time location systems market is categorized into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held the largest market share in 2022.
- In terms of application, the South & Central America real-time location systems market is segmented into personnel/staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operational automation/visibility, and others. The supply chain management and operational automation/visibility management segment held the largest market share in 2022.
- By country, the South & Central America real-time location systems market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America real-time location systems market share in 2022.
- Aruba Networks, Qorvo Inc, Impinj Inc, Siemens AG, Zebra Technologies Corp, and Stanley Black & Decker Inc are some of the leading companies operating in the South & Central America real-time location systems market.
Market Highlights
- Based on offering, the South & Central America real-time location systems market is categorized into hardware, software, and services. The hardware segment held 67.5% market share in 2022, amassing US$ 162.12 million. It is projected to garner US$ 1.19 billion by 2030 to register 28.3% CAGR during 2022-2030.
- In terms of technology, the South & Central America real-time location systems market is categorized into RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment held 28.9% share of South & Central America real-time location systems market in 2022, amassing US$ 69.49 million. It is projected to garner US$ 465.38 million by 2030 to expand at 26.8% CAGR from 2022 to 2030.
- The healthcare segment held 16.2% share of South & Central America real-time location systems market in 2022, amassing US$ 38.96 million. It is predicted to garner US$ 343.71 million by 2030 to expand at 31.3% CAGR between 2022 and 2030.
- In terms of application, the South & Central America real-time location systems market is segmented into personnel/staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operational automation/visibility, and others. The supply chain management and operational automation/visibility management segment held 28.2% share of South & Central America real-time location systems market in 2022, amassing US$ 67.76 million. It is estimated to garner US$ 488.66 million by 2030 to expand at 28.0% CAGR during 2022-2030.
- This analysis states that Brazil capture 52.3% share of South & Central America real-time location systems market in 2022. It was assessed at US$ 125.60 million in 2022 and is likely to hit US$ 1.06 billion by 2030, registering a CAGR of 30.6% during 2022-2030.
- In July 2020, Siemens has successfully integrated hardware and software to offer a new solution for the COVID-10 pandemic-related challenges companies face. It helps the companies simulate the safety of employees, test and optimize the setup of work areas, validate safety measures, and thus to design future-proof production lines.
- In February 2021, Zebra Technologies Corporation has been recognized by Gartner, Inc. as a leader in the February 2021 Magic Quadrant for Indoor Location Services, Global, making it twice in consecutive years for the company. Zebra offers end-to-end indoor location solutions with a comprehensive range of workflow-specific software tools and applications available within the MotionWorks portfolio and a rising collection of data services and APIs within the Zebra Savanna data intelligence platform. The award is expected to strengthen the company's market position.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America real-time location systems market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the South & Central America real-time location systems market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America real-time location systems market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. South & Central America Real-Time Location Systems Market Landscape
5. South & Central America Real-Time Location Systems Market - Key Market Dynamics
6. Real-Time Location Systems Market - South & Central America Market Analysis
7. South & Central America Real-Time Location Systems Market Analysis - by Offering
8. South & Central America Real-Time Location Systems Market Analysis - by Technology
9. South & Central America Real-Time Location Systems Market Analysis - by Industry Vertical
10. South & Central America Real-Time Location Systems Market Analysis - by Application
11. South & Central America Real-Time Location Systems Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the South and Central America Real-Time Location Systems market include:- Aruba Networks.
- Qorvo Inc.
- Impinj Inc
- Siemens AG.
- Zebra Technologies Corp.
- Stanley Black & Decker Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 111 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 240.28 Million |
| Forecasted Market Value ( USD | $ 1780 Million |
| Compound Annual Growth Rate | 28.4% |
| No. of Companies Mentioned | 6 |
