Real-time Location Systems Market Updates

Real-time Location Systems Market size was valued at USD 6.53 Billion in 2023 and is poised to grow from USD 8.2 Billion in 2024 to USD 40.16 Billion by 2032, growing at a CAGR of 25.5% during the forecast period (2025-2032).

Real-time location systems companies should focus on expanding their business scope across multiple industry verticals in the future. Integration of advanced connectivity technologies to improve the scope of real-time location systems will also be a key area of interest for all market players. Targeting the healthcare and logistics industries will pay big time for all new as well as established real-time location systems companies in the long run. 'Stanley Healthcare Solutions (AeroScout Inc.) ', 'Zebra Technologies Corp. ', 'Alien Technology ', 'SAVI Technology ', 'Sonitor Technologies AS ', 'TeleTracking Technologies Inc. ', 'Ubisense Group PLC ', 'Blueiot (beijing) technology co., ltd. ', 'Midmark corporation ', 'Litum ', 'Eliko ', 'Redpoint positioning corp. ', 'Link labs, inc. ', 'Pozyx ', 'Tracktio ', 'Visible assets, inc. ', 'Borda technology ', 'Mysphera s.l. ', 'Secure care products, llc ', 'Kontakt.io '

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.

Use of Ultra-Wideband Technology: Real-time location system providers are focusing on utilizing Ultra-wideband technologies owing to their high accuracy and reliability in tracking assets and personnel. Using this technology, companies can enhance the scope of their offerings and even stand out in the market with some innovation. UWB’s low power consumption and ability to function well in complex environments are making it a preferred choice for companies as well as end users.

North America is forecasted to emerge as the leader in terms of global real-time location system demand outlook. Quick adoption of real-time location systems by businesses in this region and the presence of a strong technological infrastructure has allowed this region to hold sway over others. Canada and the United States are estimated to be the most opportune markets for suppliers of real-time location systems in this region. The favorable regulatory environment and presence of key real-time location systems companies also aid the dominance of this region. Military and defense industry will drive innovation in real-time location systems for North American countries going forward.