Real-time Location Systems Market Trends

Drivers

High Demand for Asset Tracking

• The use of asset tracking has increased rapidly around the world across multiple industry verticals. This trend can be traced back to the efforts to improve efficiency and productivity of operations to promote profitability. Real-time location systems play a crucial role in asset tracking, thereby driving market growth as well.

Emphasis on Improving Supply Chain Visibility

• Global supply chains are becoming increasingly complex as international trade activities keep on increasing rapidly amidst efforts to boost economic growth among countries. Rising investments by logistics and manufacturing companies in improving supply chain visibility and optimizing workflows, preventing delays, and improving decision-making processes will create new opportunities for real-time location systems companies.

Restraints

Environmental and Technical Limitations

• Real-time location systems solutions rely heavily on signals from connectivity technologies, however they themselves come with some technical limitations. Moreover, the environment in which real-time location systems function can also add up to these limitations and decrease the functionality of real-time location systems thereby hampering sales potential going forward.

Complexity in Integration

• Real-time location systems are highly advanced systems and integrating them generally with advanced systems is quite a daunting task. This complexity increases drastically when real-time location systems are to be integrated with legacy systems or infrastructure. Hence, this complexity of integration can slow down the implementation process, increase costs, ultimately slowing down the global market development potential.