Overview and Scope
Real-time location systems (RTLS) refer to a system that is used to automatically recognize and track the location in real-time. A real-time location system (RTLS) is one of several systems that recognizes a target’s present geolocation, which can range from a vehicle to a manufacturing plant product to a human. The RTLS is used for fleet tracking, navigation, inventory and asset tracking, personnel tracking, and network security.
Sizing and Forecast
The real-time location systems (rtls) market size has grown exponentially in recent years. It will grow from $9.22 billion in 2023 to $11.9 billion in 2024 at a compound annual growth rate (CAGR) of 29.1%. The growth in the historic period can be attributed to increasing demand in manufacturing, logistics and supply chain efficiency, retail inventory management, employee safety and productivity, increased focus on patient care in healthcare.
The real-time location systems (rtls) market size is expected to see exponential growth in the next few years. It will grow to $32.52 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%. The growth in the forecast period can be attributed to expansion in retail for customer experience, demand for social distancing solutions, focus on sustainability, use in sports and entertainment, government initiatives for public safety. Major trends in the forecast period include indoor navigation solutions, growth in logistics and supply chain, ultra-wideband (uwb) technology adoption, cloud-based rtls solutions, privacy concerns and ethical considerations, integration with data analytics and ai.
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Segmentation & Regional Insights
The real-time location systems (rtls) market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Technology: RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Other Technologies
3) By Application: Inventory Or Asset Tracking And Management, Personnel Or Staff Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Operational Automation Or Visibility, Other Applications
4) By End Use Industry: Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing, Other End User Industries
North America was the largest region in the real-time location systems (RTLS) in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (rtls) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for smartphones is expected to propel the growth of the real-time location system (RTLS) market in the coming years. A smartphone is a portable electronic device that connects to a cellular network. Smartphones enable users to make phone calls, deliver text messages and connect to the internet. The growing population across the globe has led to an increase in the demand for smartphones. Smartphones are used for incident response and emergency management because of real-time location system (RTLS) innovation, which is used to automatically spot and track the destination of objects or people in real-time. For instance, according to the Mobile User Statistics report, in 2021, there will be 3.8 billion smartphone users worldwide, accounting for 48.33% of the global population. Therefore, the increasing demand for smartphones drives the real-time location system (RTLS) market growth.
Key Industry Players
Major companies operating in the real-time location systems (rtls) market report are Zebra Technologies Corp., Stanley Healthcare, CenTrak Inc., Ubisense Group PLC, TeleTracking Technologies Inc., Sonitor Technologies AS, AeroScout Industrial, DecaWave Limited, Midmark Rtls Solutions Inc., AiRISTA Flow Inc., Savi Technology, Lockheed Martin Corporation, GE HealthCare Technologies Inc., Impinj Inc., Identec Group AG, Ekahau, Securitas AB, Aruba Networks, Alien Technology LLC, Mirion Technologies, Axcess International Inc., Awarepoint Corporation, Cerner Corporation, Elpas Solutions, Infor Inc., Intelligent InSites Inc., Mojix Inc., Navis, PLUS Location Systems, Redpine Signals Inc., RF Technologies Inc.
The real-time location systems (rtls) market report table of contents includes:
1. Executive Summary
2. Real-Time Location Systems (RTLS) Market Characteristics
3. Real-Time Location Systems (RTLS) Market Trends And Strategies
4. Real-Time Location Systems (RTLS) Market – Macro Economic Scenario
5. Global Real-Time Location Systems (RTLS) Market Size and Growth
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26. South America Real-Time Location Systems (RTLS) Market
27. Brazil Real-Time Location Systems (RTLS) Market
28. Middle East Real-Time Location Systems (RTLS) Market
29. Africa Real-Time Location Systems (RTLS) Market
30. Real-Time Location Systems (RTLS) Market Competitive Landscape And Company Profiles
Top Major Players:
- Zebra Technologies Corp
- Stanley Healthcare
- CenTrak Inc
- Ubisense Group PLC
- TeleTracking Technologies Inc
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