Real-Time locating Systems are precise positioning systems that enable user to identify and track objects, people or animals by providing the information through automatic and continuous feedback. It is a fully automated Wi Fi based tracking systems which uses wireless technology such as ultra wideband, RFID, GPS and other to detect presence and location of things and people. RTLS market mainly focus on market trends, new technology, innovations, leading players and future strategies.
The Real-time locating systems market is majorly driven by the factors such as asset tracking, location system awareness, fleet tracking, navigation, and personnel tracking among others. It enables the organization to keep the track of things and personnel’s for the improvement of the organizational process. In the healthcare sector, real-time locating systems focuses on location tracking of objects, people, things and also helps in saving lives and improving patient care by optimum utilization of resources. Moreover, applications of RTLS aims to improve operational processes, safety, inventory management, workflow management or a combination of all. For the better result, RTLS solutions uses various technologies such as NFC and Wi-Fi enabled tags and badges which communicates with the pre-installed infrastructure system in order to exchange the data or information.
Optimum utilization of resources thorough efficient asset tracking and management, location systems awareness, high industrial growth are the major factors which is driving the market of Real-Time locating systems whereas high cost and economic slowdown, systems incompatibility, lack of uniform standards are some of the restrains of the market.
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The report also profiles the key players in the RTLS market. The prominent players profiled in this report are Stanley Healthcare (U.S.), Zebra Technologies Corp. (U.S.), Ubisense Group PLC. (U.K.), IMPINJ, Inc. (U.S.), Savi Technology (U.S.), AiRISTA, LLC (U.S.), CenTrak, Inc. (U.S.), Versus Technology, Inc. (U.S.), Identec Group AG (Liechtenstein), Redpine Signals, Inc. (U.S.), Decawave Ltd. (Ireland), Awarepoint Corp. (U.S.), BeSpoon SAS (France), among others
The Real-Time Locating Systems Market is expected to reach at market size of ~$6 billion by the end of forecast period with CAGR of ~28% between 2016 and 2022.
North America is dominating the market of Real-Time Locating Systems due to the presence of global players which offers competitive advantage in this market. The U.S holds largest share of RTLS market in North America followed by Canada and Mexico. RTLS offers wide range of features and companies such as BMW, Aston Martin Lagonda, Airbus, Hewlett Packard, Samsung Electronics and Boeing among others are utilizing RTLS systems in their manufacturing process systems to track various tools. Europe stands as second biggest market due to the growth of healthcare and BFSI industry whereas Asia-Pacific has emerged as fastest growing market due to the growing economies of China and India and high investment of government in defense sector.
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The Real-Time Locating Systems has been segmented on the basis of components, technology, application, and industry. The components includes- hardware and software. By technology the market has been segmented as – RFID, Wi-Fi, UWB, GPS among others whereas the application includes- asset tracking, personal tracking, inventory tracking among others. On the basis of industries, the market includes- manufacturing, banking, healthcare, aerospace & defense, automotive, oil & gas among others.
- RTLS Service Providers
- Healthcare Institutions
- Software distributors
- Distributors and Traders
- RTLS End Users
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