Real-time Location Systems Market

Real-time Location Systems Market Size, Share, Growth Analysis, By Offering:(Hardware, Tags/Badges), By Technology:(RFID, Wi-Fi), By Application:(Inventory/Asset Tracking & Management, Personnel Locating & Monitoring), By Vertical :(Healthcare, Manufacturing & Automotive), By Region(North America, US) - Industry Forecast 2024-2031

Report ID: UCMIG45J2165 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Real-time Location Systems Market Insights

Market Overview:

At a CAGR of 25.5% from 2023 to 2028, the size of the global real-time location systems (RTLS) market is anticipated to increase from USD 5.2 billion in 2023 to USD 16.2 billion by 2028. Some factors driving this market include the need for cost reduction and process optimization, rapid adoption in the healthcare industry, innovations in tracking technology, and recent advancements in fleet tracking to support growth.

Real-time Location Systems Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Real-time Location Systems Market is segmented by Offering:, Technology:, Application:, Vertical :, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Real-time Location Systems Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on Offering: the market is segmented as, Hardware, Tags/Badges, Readers/Trackers/Access Points, Other Hardware, Software, Services, Consulting, Support and Maintenance, Deployment and Integration
  • Based on Technology: the market is segmented as, RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, GPS, Other technologies
  • Based on Application: the market is segmented as, Inventory/Asset Tracking & Management, Personnel Locating & Monitoring, Access Control & Security, Environmental Monitoring, Yard, Dock, Fleet, & Warehouse Management & Monitoring, Supply Chain Management & Automation, Other applications
  • Based on Vertical : the market is segmented as, Healthcare, Manufacturing & Automotive, Retail, Transportation & Logistics, Government & Defense, Education, Oil & Gas and Mining, Sports & Entertainment, Other verticals
  • Based on Region the market is segmented as, North America, US, Canada, Mexico, Europe, Germany, UK, France, Rest of Europe, Asia Pacific, China, Japan, Australia, South Korea, Rest of Asia Pacific, Rest of the World, Middle East, South America & Africa, KEY MARKET PLAYERS, Securitas AB, Zebra Technologies Corporation, Aruba Networks, Impinj, Inc., Savi Technology, TeleTracking Technologies, Inc., CenTrak, Inc., GE HealthCare Technologies Inc., Ubisense Ltd., Alien Technology, LLC, AiRISTA Flow, Inc., Sonitor Technologies, Midmark Corporation

Regional Analysis:

Real-time Location Systems Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Real-time Location Systems Market Attractiveness Analysis, By Region 2020-2028
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Real-time Location Systems Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Real-time Location Systems Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Real-time Location Systems Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Real-time Location Systems Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Real-time Location Systems Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • real-time location systems (RTLS) market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028. RTLS solutions improve productivity by shortening the time they take to locate an asset, which is particularly helpful for transportation, biomedical engineering, and nursing staff. Equipment searches and paperwork related to assets translate into delays in the overall process, adversely impacting productivity in several verticals. RTLS systems minimize that timeframe and provide real-time data about all these assets with precise locations, which leads to better productivity.
  • DRIVERS: Increasing need to ensure safety and security compliance in various industries.
  • There are several regulations in healthcare, oil & gas, mining, manufacturing, and other industries related to workers’ safety, workflow, and security. The need to ensure compliance with various industry-specific regulations about safety, workflow, and security improvement is likely to speed up the deployment of RTLS solutions. For example, in healthcare, by deploying RTLS, management can track whether staff members comply with regulations regarding proper disinfection, hand hygiene, and others; compliance with hand hygiene protocol in hospitals can significantly minimize the risk of infections. RTLS can also be used to monitor assets/environments that require temperature range compliance. Similarly, RTLS improves workplace safety in manufacturing by tracking hazardous materials and situations.
  • Moreover, manufacturing industries use vehicles such as forklifts, cranes, and trucks to be remotely controlled and put under speed supervision. RTLS helps supervise manufacturing equipment, vehicles, and their speed and tracking workers nearby. Thus, RTLS assists in maintaining safety regulations in the manufacturing industry.
  • RESTRAINTS: High maintenance and installation costs.
  • The cost of an RTLS system at the time of installation can be very high. The cost varies from industry to industry and depends on the installation area. The installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems; however, the hardware installation cost for Wi-Fi-based RTLS is higher than UWB-enabled systems. The maintenance costs of Wi-Fi- and RFID-based solutions are costlier compared with methods based on other technologies such as UWB and BLE. Furthermore, many RTLS companies are facing issues in terms of deployment and technology since many projects are failing due to the requirement of lots of engineering efforts and on-site preferences. Hence, the costs and steps involved in RTLS deployments could restrain market growth.
  • OPPORTUNITIES: Growing demand for hybrid RTLS solutions.
  • The RTLS market is witnessing a rise in demand for hybrid RTLS solutions. A range of hybrid solutions is available in the market, intending to overcome some of the challenges associated with an RTLS system based on a single technology. Hybrid RTLS solutions combine multiple technologies to achieve higher accuracy, reliability, flexibility, and cost-effectiveness than systems that use any single technology. This is because each technology has its own strengths and weaknesses, and by combining them, the weaknesses of one technology can be offset by the strengths of another. For example, Wi-Fi-based RTLS systems are typically very accurate, but they can be unreliable in areas with poor Wi-Fi signal strength. By combining Wi-Fi with another technology, such as Bluetooth, the accuracy and reliability of the system can be improved. This makes them ideal for a wide range of industries, including manufacturing, automotive, logistics, healthcare, and retail. By combining multiple technologies.
  • CHALLENGES: Lack of uniform standards and interoperability.
  • One of the major concerns of the RTLS market is standardization protocols. There is a lack of uniform standards due to which various solutions are available, making it difficult for end users to choose and integrate with the system. As many hardware products and software are available, the end user faces incompatibility issues in infrastructure, thus resulting in the interoperability of the complete solution. Companies such as Zebra Technologies (US) and Securitas AB (US) provide RTLS solutions that support more than one protocol; however, most market players primarily focus on a single protocol. Since different technologies operate on different protocols and frequency bands, there is a lack of interoperability between various RTLS solutions. Hence, the customer has to opt for a single vendor for its system, due to which the overall cost may increase.
  • Hardware segment is expected to hold the largest market share during the forecast period.
  • RTLS solutions consist of hardware components such as tags/badges affixed to an asset or individual for tracking purposes. RTLS badges, tags, and sensory networks are designed to work in the background, communicating the locations of people and equipment automatically and accurately. These tags periodically transmit information to readers or trackers. A reader communicates with a tag and collects and processes tag signals, subsequently sending them to the application software platform, which analyzes and correlates this data to provide the exact location in real-time. There is a growing trend of using hybrid solutions, which may involve using a single tag or reader that can perform many functions. These factors would further boost the ever-increasing demand for hybrid RTLS solutions from specific verticals such as healthcare and manufacturing.
  • The market for UWB technology is projected to grow at the highest CAGR during the forecast period.
  • In the RTLS market, ultra-wideband (UWB) is one of the most dynamic and fastest-growing technologies, and the RTLS market for UWB technology stores enormous potential for growth during the forecast period. This technology functions similarly to active RFID, wherein the tag continuously sends RF energy into the environment for receivers to pick up. UWB-based RTLS solutions operate in a large bandwidth spectrum in larger environments with many tags; receivers are placed at larger intervals with sub-receivers in between to improve accuracy. The signals from the tags are concise and obtain the unique ID of the tag. UWB is highly accurate on a room- and zone-level basis and can calculate the location within a few centimeters due to its short, narrow transmissions.
  • The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.
  • The growing manufacturing sector in China is generating massive demand for RTLS solutions to improve operational efficiency and lower operational costs by tracking equipment, goods, materials, work orders, assembly lines, and distribution in manufacturing facilities, which is anticipated to drive market growth in the country. In addition, the high adoption of RTLS technologies in Japan, South Korea, China, and Australia to improve healthcare quality and patient safety and reduce healthcare costs is expected to drive the RTLS market in Asia Pacific for the healthcare vertical.
  • Recent Developments
  • In November 2022, Impinj, Inc. announced the Impinj M780 and M781 RAIN RFID tag chips. These tag chips can support enterprises in managing product shelf life, reducing waste, and complying with regulations.
  • In December 2021, Securitas AB announced the acquisition of the Stanley Security business division from Stanley Black & Decker Inc. By this acquisition, the company aims to expand its intelligent security solutions offering.
  • In May 2019, Savi Technology announced their new sensor Savi Locate, which is developed to operate with 4G, 3G, and 2G cellular networks. The sensor, when coupled with Savi Visibility software, the user will be able to mitigate the risk and cost of the shipments which are delayed.
  • KEY MARKET SEGMENTS
  • By Offering:
  • Hardware
  • Tags/Badges
  • Readers/Trackers/Access Points
  • Other Hardware
  • Software
  • Services
  • Consulting
  • Support and Maintenance
  • Deployment and Integration
  • By Technology:
  • RFID
  • Wi-Fi
  • UWB
  • BLE
  • Infrared
  • Ultrasound
  • GPS
  • Other technologies
  • By Application:
  • Inventory/Asset Tracking & Management
  • Personnel Locating & Monitoring
  • Access Control & Security
  • Environmental Monitoring
  • Yard, Dock, Fleet, & Warehouse Management & Monitoring
  • Supply Chain Management & Automation
  • Other applications
  • By Vertical :
  • Healthcare
  • Manufacturing & Automotive
  • Retail
  • Transportation & Logistics
  • Government & Defense
  • Education
  • Oil & Gas and Mining
  • Sports & Entertainment
  • Other verticals
  • By Region
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • Rest of the World
  • Middle East
  • South America & Africa
  • KEY MARKET PLAYERS
  • Securitas AB
  • Zebra Technologies Corporation
  • Aruba Networks
  • Impinj, Inc.
  • Savi Technology
  • TeleTracking Technologies, Inc.
  • CenTrak, Inc.
  • GE HealthCare Technologies Inc.
  • Ubisense Ltd.
  • Alien Technology, LLC
  • AiRISTA Flow, Inc.
  • Sonitor Technologies
  • Midmark Corporation

SkyQuest's Expertise:

The Real-time Location Systems Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By Offering: - Hardware, Tags/Badges, Readers/Trackers/Access Points, Other Hardware, Software, Services, Consulting, Support and Maintenance, Deployment and Integration
  • By Technology: - RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, GPS, Other technologies
  • By Application: - Inventory/Asset Tracking & Management, Personnel Locating & Monitoring, Access Control & Security, Environmental Monitoring, Yard, Dock, Fleet, & Warehouse Management & Monitoring, Supply Chain Management & Automation, Other applications
  • By Vertical : - Healthcare, Manufacturing & Automotive, Retail, Transportation & Logistics, Government & Defense, Education, Oil & Gas and Mining, Sports & Entertainment, Other verticals
  • By Region - North America, US, Canada, Mexico, Europe, Germany, UK, France, Rest of Europe, Asia Pacific, China, Japan, Australia, South Korea, Rest of Asia Pacific, Rest of the World, Middle East, South America & Africa, KEY MARKET PLAYERS, Securitas AB, Zebra Technologies Corporation, Aruba Networks, Impinj, Inc., Savi Technology, TeleTracking Technologies, Inc., CenTrak, Inc., GE HealthCare Technologies Inc., Ubisense Ltd., Alien Technology, LLC, AiRISTA Flow, Inc., Sonitor Technologies, Midmark Corporation
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • real-time location systems (RTLS) market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028. RTLS solutions improve productivity by shortening the time they take to locate an asset, which is particularly helpful for transportation, biomedical engineering, and nursing staff. Equipment searches and paperwork related to assets translate into delays in the overall process, adversely impacting productivity in several verticals. RTLS systems minimize that timeframe and provide real-time data about all these assets with precise locations, which leads to better productivity.
  • DRIVERS: Increasing need to ensure safety and security compliance in various industries.
  • There are several regulations in healthcare, oil & gas, mining, manufacturing, and other industries related to workers’ safety, workflow, and security. The need to ensure compliance with various industry-specific regulations about safety, workflow, and security improvement is likely to speed up the deployment of RTLS solutions. For example, in healthcare, by deploying RTLS, management can track whether staff members comply with regulations regarding proper disinfection, hand hygiene, and others; compliance with hand hygiene protocol in hospitals can significantly minimize the risk of infections. RTLS can also be used to monitor assets/environments that require temperature range compliance. Similarly, RTLS improves workplace safety in manufacturing by tracking hazardous materials and situations.
  • Moreover, manufacturing industries use vehicles such as forklifts, cranes, and trucks to be remotely controlled and put under speed supervision. RTLS helps supervise manufacturing equipment, vehicles, and their speed and tracking workers nearby. Thus, RTLS assists in maintaining safety regulations in the manufacturing industry.
  • RESTRAINTS: High maintenance and installation costs.
  • The cost of an RTLS system at the time of installation can be very high. The cost varies from industry to industry and depends on the installation area. The installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems; however, the hardware installation cost for Wi-Fi-based RTLS is higher than UWB-enabled systems. The maintenance costs of Wi-Fi- and RFID-based solutions are costlier compared with methods based on other technologies such as UWB and BLE. Furthermore, many RTLS companies are facing issues in terms of deployment and technology since many projects are failing due to the requirement of lots of engineering efforts and on-site preferences. Hence, the costs and steps involved in RTLS deployments could restrain market growth.
  • OPPORTUNITIES: Growing demand for hybrid RTLS solutions.
  • The RTLS market is witnessing a rise in demand for hybrid RTLS solutions. A range of hybrid solutions is available in the market, intending to overcome some of the challenges associated with an RTLS system based on a single technology. Hybrid RTLS solutions combine multiple technologies to achieve higher accuracy, reliability, flexibility, and cost-effectiveness than systems that use any single technology. This is because each technology has its own strengths and weaknesses, and by combining them, the weaknesses of one technology can be offset by the strengths of another. For example, Wi-Fi-based RTLS systems are typically very accurate, but they can be unreliable in areas with poor Wi-Fi signal strength. By combining Wi-Fi with another technology, such as Bluetooth, the accuracy and reliability of the system can be improved. This makes them ideal for a wide range of industries, including manufacturing, automotive, logistics, healthcare, and retail. By combining multiple technologies.
  • CHALLENGES: Lack of uniform standards and interoperability.
  • One of the major concerns of the RTLS market is standardization protocols. There is a lack of uniform standards due to which various solutions are available, making it difficult for end users to choose and integrate with the system. As many hardware products and software are available, the end user faces incompatibility issues in infrastructure, thus resulting in the interoperability of the complete solution. Companies such as Zebra Technologies (US) and Securitas AB (US) provide RTLS solutions that support more than one protocol; however, most market players primarily focus on a single protocol. Since different technologies operate on different protocols and frequency bands, there is a lack of interoperability between various RTLS solutions. Hence, the customer has to opt for a single vendor for its system, due to which the overall cost may increase.
  • Hardware segment is expected to hold the largest market share during the forecast period.
  • RTLS solutions consist of hardware components such as tags/badges affixed to an asset or individual for tracking purposes. RTLS badges, tags, and sensory networks are designed to work in the background, communicating the locations of people and equipment automatically and accurately. These tags periodically transmit information to readers or trackers. A reader communicates with a tag and collects and processes tag signals, subsequently sending them to the application software platform, which analyzes and correlates this data to provide the exact location in real-time. There is a growing trend of using hybrid solutions, which may involve using a single tag or reader that can perform many functions. These factors would further boost the ever-increasing demand for hybrid RTLS solutions from specific verticals such as healthcare and manufacturing.
  • The market for UWB technology is projected to grow at the highest CAGR during the forecast period.
  • In the RTLS market, ultra-wideband (UWB) is one of the most dynamic and fastest-growing technologies, and the RTLS market for UWB technology stores enormous potential for growth during the forecast period. This technology functions similarly to active RFID, wherein the tag continuously sends RF energy into the environment for receivers to pick up. UWB-based RTLS solutions operate in a large bandwidth spectrum in larger environments with many tags; receivers are placed at larger intervals with sub-receivers in between to improve accuracy. The signals from the tags are concise and obtain the unique ID of the tag. UWB is highly accurate on a room- and zone-level basis and can calculate the location within a few centimeters due to its short, narrow transmissions.
  • The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.
  • The growing manufacturing sector in China is generating massive demand for RTLS solutions to improve operational efficiency and lower operational costs by tracking equipment, goods, materials, work orders, assembly lines, and distribution in manufacturing facilities, which is anticipated to drive market growth in the country. In addition, the high adoption of RTLS technologies in Japan, South Korea, China, and Australia to improve healthcare quality and patient safety and reduce healthcare costs is expected to drive the RTLS market in Asia Pacific for the healthcare vertical.
  • Recent Developments
  • In November 2022, Impinj, Inc. announced the Impinj M780 and M781 RAIN RFID tag chips. These tag chips can support enterprises in managing product shelf life, reducing waste, and complying with regulations.
  • In December 2021, Securitas AB announced the acquisition of the Stanley Security business division from Stanley Black & Decker Inc. By this acquisition, the company aims to expand its intelligent security solutions offering.
  • In May 2019, Savi Technology announced their new sensor Savi Locate, which is developed to operate with 4G, 3G, and 2G cellular networks. The sensor, when coupled with Savi Visibility software, the user will be able to mitigate the risk and cost of the shipments which are delayed.
  • KEY MARKET SEGMENTS
  • By Offering:
  • Hardware
  • Tags/Badges
  • Readers/Trackers/Access Points
  • Other Hardware
  • Software
  • Services
  • Consulting
  • Support and Maintenance
  • Deployment and Integration
  • By Technology:
  • RFID
  • Wi-Fi
  • UWB
  • BLE
  • Infrared
  • Ultrasound
  • GPS
  • Other technologies
  • By Application:
  • Inventory/Asset Tracking & Management
  • Personnel Locating & Monitoring
  • Access Control & Security
  • Environmental Monitoring
  • Yard, Dock, Fleet, & Warehouse Management & Monitoring
  • Supply Chain Management & Automation
  • Other applications
  • By Vertical :
  • Healthcare
  • Manufacturing & Automotive
  • Retail
  • Transportation & Logistics
  • Government & Defense
  • Education
  • Oil & Gas and Mining
  • Sports & Entertainment
  • Other verticals
  • By Region
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • Rest of the World
  • Middle East
  • South America & Africa
  • KEY MARKET PLAYERS
  • Securitas AB
  • Zebra Technologies Corporation
  • Aruba Networks
  • Impinj, Inc.
  • Savi Technology
  • TeleTracking Technologies, Inc.
  • CenTrak, Inc.
  • GE HealthCare Technologies Inc.
  • Ubisense Ltd.
  • Alien Technology, LLC
  • AiRISTA Flow, Inc.
  • Sonitor Technologies
  • Midmark Corporation
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Real-time Location Systems Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Real-time Location Systems Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • real-time location systems (RTLS) market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028. RTLS solutions improve productivity by shortening the time they take to locate an asset, which is particularly helpful for transportation, biomedical engineering, and nursing staff. Equipment searches and paperwork related to assets translate into delays in the overall process, adversely impacting productivity in several verticals. RTLS systems minimize that timeframe and provide real-time data about all these assets with precise locations, which leads to better productivity.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • DRIVERS: Increasing need to ensure safety and security compliance in various industries.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • There are several regulations in healthcare, oil & gas, mining, manufacturing, and other industries related to workers’ safety, workflow, and security. The need to ensure compliance with various industry-specific regulations about safety, workflow, and security improvement is likely to speed up the deployment of RTLS solutions. For example, in healthcare, by deploying RTLS, management can track whether staff members comply with regulations regarding proper disinfection, hand hygiene, and others; compliance with hand hygiene protocol in hospitals can significantly minimize the risk of infections. RTLS can also be used to monitor assets/environments that require temperature range compliance. Similarly, RTLS improves workplace safety in manufacturing by tracking hazardous materials and situations.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Moreover, manufacturing industries use vehicles such as forklifts, cranes, and trucks to be remotely controlled and put under speed supervision. RTLS helps supervise manufacturing equipment, vehicles, and their speed and tracking workers nearby. Thus, RTLS assists in maintaining safety regulations in the manufacturing industry.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • RESTRAINTS: High maintenance and installation costs.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The cost of an RTLS system at the time of installation can be very high. The cost varies from industry to industry and depends on the installation area. The installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems; however, the hardware installation cost for Wi-Fi-based RTLS is higher than UWB-enabled systems. The maintenance costs of Wi-Fi- and RFID-based solutions are costlier compared with methods based on other technologies such as UWB and BLE. Furthermore, many RTLS companies are facing issues in terms of deployment and technology since many projects are failing due to the requirement of lots of engineering efforts and on-site preferences. Hence, the costs and steps involved in RTLS deployments could restrain market growth.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • OPPORTUNITIES: Growing demand for hybrid RTLS solutions.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The RTLS market is witnessing a rise in demand for hybrid RTLS solutions. A range of hybrid solutions is available in the market, intending to overcome some of the challenges associated with an RTLS system based on a single technology. Hybrid RTLS solutions combine multiple technologies to achieve higher accuracy, reliability, flexibility, and cost-effectiveness than systems that use any single technology. This is because each technology has its own strengths and weaknesses, and by combining them, the weaknesses of one technology can be offset by the strengths of another. For example, Wi-Fi-based RTLS systems are typically very accurate, but they can be unreliable in areas with poor Wi-Fi signal strength. By combining Wi-Fi with another technology, such as Bluetooth, the accuracy and reliability of the system can be improved. This makes them ideal for a wide range of industries, including manufacturing, automotive, logistics, healthcare, and retail. By combining multiple technologies.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • CHALLENGES: Lack of uniform standards and interoperability.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • One of the major concerns of the RTLS market is standardization protocols. There is a lack of uniform standards due to which various solutions are available, making it difficult for end users to choose and integrate with the system. As many hardware products and software are available, the end user faces incompatibility issues in infrastructure, thus resulting in the interoperability of the complete solution. Companies such as Zebra Technologies (US) and Securitas AB (US) provide RTLS solutions that support more than one protocol; however, most market players primarily focus on a single protocol. Since different technologies operate on different protocols and frequency bands, there is a lack of interoperability between various RTLS solutions. Hence, the customer has to opt for a single vendor for its system, due to which the overall cost may increase.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Hardware segment is expected to hold the largest market share during the forecast period.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • RTLS solutions consist of hardware components such as tags/badges affixed to an asset or individual for tracking purposes. RTLS badges, tags, and sensory networks are designed to work in the background, communicating the locations of people and equipment automatically and accurately. These tags periodically transmit information to readers or trackers. A reader communicates with a tag and collects and processes tag signals, subsequently sending them to the application software platform, which analyzes and correlates this data to provide the exact location in real-time. There is a growing trend of using hybrid solutions, which may involve using a single tag or reader that can perform many functions. These factors would further boost the ever-increasing demand for hybrid RTLS solutions from specific verticals such as healthcare and manufacturing.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The market for UWB technology is projected to grow at the highest CAGR during the forecast period.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In the RTLS market, ultra-wideband (UWB) is one of the most dynamic and fastest-growing technologies, and the RTLS market for UWB technology stores enormous potential for growth during the forecast period. This technology functions similarly to active RFID, wherein the tag continuously sends RF energy into the environment for receivers to pick up. UWB-based RTLS solutions operate in a large bandwidth spectrum in larger environments with many tags; receivers are placed at larger intervals with sub-receivers in between to improve accuracy. The signals from the tags are concise and obtain the unique ID of the tag. UWB is highly accurate on a room- and zone-level basis and can calculate the location within a few centimeters due to its short, narrow transmissions.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The growing manufacturing sector in China is generating massive demand for RTLS solutions to improve operational efficiency and lower operational costs by tracking equipment, goods, materials, work orders, assembly lines, and distribution in manufacturing facilities, which is anticipated to drive market growth in the country. In addition, the high adoption of RTLS technologies in Japan, South Korea, China, and Australia to improve healthcare quality and patient safety and reduce healthcare costs is expected to drive the RTLS market in Asia Pacific for the healthcare vertical.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Recent Developments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In November 2022, Impinj, Inc. announced the Impinj M780 and M781 RAIN RFID tag chips. These tag chips can support enterprises in managing product shelf life, reducing waste, and complying with regulations.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In December 2021, Securitas AB announced the acquisition of the Stanley Security business division from Stanley Black & Decker Inc. By this acquisition, the company aims to expand its intelligent security solutions offering.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In May 2019, Savi Technology announced their new sensor Savi Locate, which is developed to operate with 4G, 3G, and 2G cellular networks. The sensor, when coupled with Savi Visibility software, the user will be able to mitigate the risk and cost of the shipments which are delayed.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Offering:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Hardware
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Tags/Badges
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Readers/Trackers/Access Points
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other Hardware
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Software
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Consulting
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Support and Maintenance
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Deployment and Integration
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Technology:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • RFID
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Wi-Fi
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • UWB
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • BLE
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Infrared
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Ultrasound
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GPS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Application:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Inventory/Asset Tracking & Management
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Personnel Locating & Monitoring
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Access Control & Security
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Environmental Monitoring
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Yard, Dock, Fleet, & Warehouse Management & Monitoring
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Supply Chain Management & Automation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other applications
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Vertical :
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Healthcare
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Manufacturing & Automotive
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Retail
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Transportation & Logistics
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Government & Defense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Education
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Oil & Gas and Mining
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Sports & Entertainment
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other verticals
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Region
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • US
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Canada
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Mexico
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Germany
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • UK
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • France
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • China
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Japan
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Australia
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • South Korea
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of the World
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Middle East
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • South America & Africa
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET PLAYERS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Securitas AB
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Zebra Technologies Corporation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Aruba Networks
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Impinj, Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Savi Technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • TeleTracking Technologies, Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • CenTrak, Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GE HealthCare Technologies Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Ubisense Ltd.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Alien Technology, LLC
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • AiRISTA Flow, Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Sonitor Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Midmark Corporation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Real-time Location Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Real-time Location Systems Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Real-time Location Systems Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Real-time Location Systems Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The global market for Real-time Location Systems was estimated to be valued at US$ XX Mn in 2021.

The global Real-time Location Systems Market is estimated to grow at a CAGR of XX% by 2028.

The global Real-time Location Systems Market is segmented on the basis of Offering:, Technology:, Application:, Vertical :, Region.

Based on region, the global Real-time Location Systems Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the global Real-time Location Systems Market are real-time location systems (RTLS) market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028. RTLS solutions improve productivity by shortening the time they take to locate an asset, which is particularly helpful for transportation, biomedical engineering, and nursing staff. Equipment searches and paperwork related to assets translate into delays in the overall process, adversely impacting productivity in several verticals. RTLS systems minimize that timeframe and provide real-time data about all these assets with precise locations, which leads to better productivity. , DRIVERS: Increasing need to ensure safety and security compliance in various industries. , There are several regulations in healthcare, oil & gas, mining, manufacturing, and other industries related to workers’ safety, workflow, and security. The need to ensure compliance with various industry-specific regulations about safety, workflow, and security improvement is likely to speed up the deployment of RTLS solutions. For example, in healthcare, by deploying RTLS, management can track whether staff members comply with regulations regarding proper disinfection, hand hygiene, and others; compliance with hand hygiene protocol in hospitals can significantly minimize the risk of infections. RTLS can also be used to monitor assets/environments that require temperature range compliance. Similarly, RTLS improves workplace safety in manufacturing by tracking hazardous materials and situations. , Moreover, manufacturing industries use vehicles such as forklifts, cranes, and trucks to be remotely controlled and put under speed supervision. RTLS helps supervise manufacturing equipment, vehicles, and their speed and tracking workers nearby. Thus, RTLS assists in maintaining safety regulations in the manufacturing industry. , RESTRAINTS: High maintenance and installation costs. , The cost of an RTLS system at the time of installation can be very high. The cost varies from industry to industry and depends on the installation area. The installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems; however, the hardware installation cost for Wi-Fi-based RTLS is higher than UWB-enabled systems. The maintenance costs of Wi-Fi- and RFID-based solutions are costlier compared with methods based on other technologies such as UWB and BLE. Furthermore, many RTLS companies are facing issues in terms of deployment and technology since many projects are failing due to the requirement of lots of engineering efforts and on-site preferences. Hence, the costs and steps involved in RTLS deployments could restrain market growth. , OPPORTUNITIES: Growing demand for hybrid RTLS solutions. , The RTLS market is witnessing a rise in demand for hybrid RTLS solutions. A range of hybrid solutions is available in the market, intending to overcome some of the challenges associated with an RTLS system based on a single technology. Hybrid RTLS solutions combine multiple technologies to achieve higher accuracy, reliability, flexibility, and cost-effectiveness than systems that use any single technology. This is because each technology has its own strengths and weaknesses, and by combining them, the weaknesses of one technology can be offset by the strengths of another. For example, Wi-Fi-based RTLS systems are typically very accurate, but they can be unreliable in areas with poor Wi-Fi signal strength. By combining Wi-Fi with another technology, such as Bluetooth, the accuracy and reliability of the system can be improved. This makes them ideal for a wide range of industries, including manufacturing, automotive, logistics, healthcare, and retail. By combining multiple technologies. , CHALLENGES: Lack of uniform standards and interoperability. , One of the major concerns of the RTLS market is standardization protocols. There is a lack of uniform standards due to which various solutions are available, making it difficult for end users to choose and integrate with the system. As many hardware products and software are available, the end user faces incompatibility issues in infrastructure, thus resulting in the interoperability of the complete solution. Companies such as Zebra Technologies (US) and Securitas AB (US) provide RTLS solutions that support more than one protocol; however, most market players primarily focus on a single protocol. Since different technologies operate on different protocols and frequency bands, there is a lack of interoperability between various RTLS solutions. Hence, the customer has to opt for a single vendor for its system, due to which the overall cost may increase. , Hardware segment is expected to hold the largest market share during the forecast period. , RTLS solutions consist of hardware components such as tags/badges affixed to an asset or individual for tracking purposes. RTLS badges, tags, and sensory networks are designed to work in the background, communicating the locations of people and equipment automatically and accurately. These tags periodically transmit information to readers or trackers. A reader communicates with a tag and collects and processes tag signals, subsequently sending them to the application software platform, which analyzes and correlates this data to provide the exact location in real-time. There is a growing trend of using hybrid solutions, which may involve using a single tag or reader that can perform many functions. These factors would further boost the ever-increasing demand for hybrid RTLS solutions from specific verticals such as healthcare and manufacturing. , The market for UWB technology is projected to grow at the highest CAGR during the forecast period. , In the RTLS market, ultra-wideband (UWB) is one of the most dynamic and fastest-growing technologies, and the RTLS market for UWB technology stores enormous potential for growth during the forecast period. This technology functions similarly to active RFID, wherein the tag continuously sends RF energy into the environment for receivers to pick up. UWB-based RTLS solutions operate in a large bandwidth spectrum in larger environments with many tags; receivers are placed at larger intervals with sub-receivers in between to improve accuracy. The signals from the tags are concise and obtain the unique ID of the tag. UWB is highly accurate on a room- and zone-level basis and can calculate the location within a few centimeters due to its short, narrow transmissions. , The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028. , The growing manufacturing sector in China is generating massive demand for RTLS solutions to improve operational efficiency and lower operational costs by tracking equipment, goods, materials, work orders, assembly lines, and distribution in manufacturing facilities, which is anticipated to drive market growth in the country. In addition, the high adoption of RTLS technologies in Japan, South Korea, China, and Australia to improve healthcare quality and patient safety and reduce healthcare costs is expected to drive the RTLS market in Asia Pacific for the healthcare vertical. , Recent Developments , In November 2022, Impinj, Inc. announced the Impinj M780 and M781 RAIN RFID tag chips. These tag chips can support enterprises in managing product shelf life, reducing waste, and complying with regulations. , In December 2021, Securitas AB announced the acquisition of the Stanley Security business division from Stanley Black & Decker Inc. By this acquisition, the company aims to expand its intelligent security solutions offering. , In May 2019, Savi Technology announced their new sensor Savi Locate, which is developed to operate with 4G, 3G, and 2G cellular networks. The sensor, when coupled with Savi Visibility software, the user will be able to mitigate the risk and cost of the shipments which are delayed. , KEY MARKET SEGMENTS , By Offering: , Hardware , Tags/Badges , Readers/Trackers/Access Points , Other Hardware , Software , Services , Consulting , Support and Maintenance , Deployment and Integration , By Technology: , RFID , Wi-Fi , UWB , BLE , Infrared , Ultrasound , GPS , Other technologies , By Application: , Inventory/Asset Tracking & Management , Personnel Locating & Monitoring , Access Control & Security , Environmental Monitoring , Yard, Dock, Fleet, & Warehouse Management & Monitoring , Supply Chain Management & Automation , Other applications , By Vertical : , Healthcare , Manufacturing & Automotive , Retail , Transportation & Logistics , Government & Defense , Education , Oil & Gas and Mining , Sports & Entertainment , Other verticals , By Region , North America , US , Canada , Mexico , Europe , Germany , UK , France , Rest of Europe , Asia Pacific , China , Japan , Australia , South Korea , Rest of Asia Pacific , Rest of the World , Middle East , South America & Africa, KEY MARKET PLAYERS , Securitas AB , Zebra Technologies Corporation , Aruba Networks , Impinj, Inc. , Savi Technology , TeleTracking Technologies, Inc. , CenTrak, Inc. , GE HealthCare Technologies Inc. , Ubisense Ltd. , Alien Technology, LLC , AiRISTA Flow, Inc. , Sonitor Technologies , Midmark Corporation.

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Report ID: UCMIG45J2192 | Region: Global | Published Date: Upcoming | Pages: 165 | Tables: 55 | Figures: 60

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Real-time Location Systems Market

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