The global Real Time Locating Systems (RTLS) Market is predicted to exhibit a high growth rate over the forecast period (2017 to 2022. Real time locating systems are used in tracking the location of objects or people in real time using tags. The RTLS technology operates by relying on radiofrequency identification (RFID), ultra-wideband (UWB), and Bluetooth. They are used by organizations or people in tracking important assets and aid them in improving the efficiency of production processes. Examples include finding pallets in a warehouse and tracking products in an inventory line.
Demand for proper utilization of resources and inventory management is expected to drive market volume during the forecast period. In addition, reliability of RTLS and the competitive nature in various industries are factors anticipated to influence market growth. Adoption of the technology across various industries and supportive government policies advocating its use can accumulate in high market volume till 2022.
The Real time locating systems technology has expanded its use from industrial sectors to the educational sectors prioritizing the safety of students. The rise in terrorist activities and other tragedies have forced school authorities to consider using RTLS to monitor the location of its students and teachers with the help of RFID tags. For instance, the Fuzion application by ZulaFly Solutions can be used in sending out information regarding individual locations to respective authorities to assist them in case of mishaps. But the potential aspect of this technology comes from its use from business intelligence. This can be used to make smart business decisions and to achieve organizational goals. This move is possible due to high usage of smartphones and slow but gradual adoption of Internet of Things in organizations. However, privacy concerns regarding the technology may pose a challenge to growth of the real time locating systems market.
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The RTLS market is fragmented by type, end user, and region. By type, the market is divided into Wi-Fi, wireless, and wired. Major end users include amusement parks, government and army, chemicals and dangerous goods, manufacturing and supply chain management, hospitals, mining, and others.
Regions covered in the real time locating systems (RTLS) market report include India, China, Japan, Southeast Asia, European Union (EU), and United States (U.S.). The U.S. market is expected to hold a substantial market share owing to technological awareness as well as high adoption rate across various sectors. The use of this technology in the healthcare sector by various hospitals to streamline processes is projected to provide new growth opportunities for the regional market.
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The India, China, Japan, and Southeast Asia real time locating systems (RTLS) market can cumulatively exhibit a significant growth rate over the forecast period owing to increasing demand for RFID and Wi-Fi technologies. China, in particular, is expected to display an exceptional CAGR till 2022 due to robust growth in logistics, retail, and manufacturing sectors. The EU market is predicted to garner a significant market share by 2022 as a result of the decision by various manufacturing companies to use RTLS to track their assets. In addition, their future applications in inventory and warehouse management can also open up new avenues for the regional market.
Key market players operating in the global real time locating systems (RTLS) market include Ekahau; Identec Solutions Inc.; AeroScout Industrial; Versus Technology, Inc.; and Zebra Technologies. Most companies are focusing their strategies on improving their respective applications to further their growth. Partnerships, mergers, and distribution agreements are other strategies employed by the chief participants to sustain market hold.
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