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Asia Pacific Real Time Location System (RTLS) Markets
Frost & Sullivan, Aug 2007, Pages: 111
Nascent Asia Pacific RTLS Market on the Verge of Booming Growth as Adoption Increases Across Verticals
The Asia Pacific real time location system (RTLS) market is emerging from its nascent stage, which saw a low record of deployments, and entering a phase of growth, with the overall market expecting to see an increase in demands by 2010. Many enterprises are now more receptive to this technology, focusing on RTLS as an advanced technique to manage their resources. Consequently, this region is witnessing the application of RTLS projects across several verticals including healthcare, manufacturing and logistics, transportation, and even emerging ones such as personnel tracking.
'Current tracking forms such as global positioning systems (GPS), barcodes and manual methods lack accuracy in tracking, thus opening up vast opportunities for RTLS to expand its popularity,' opines the analyst of this research service. The mounting interest from government and private sectors and the significant innovations in RTLS technology are also key factors driving market growth.
Building Awareness and Lowering Costs Crucial to Market Success
Although several enterprises are generally aware of RTLS technology, a larger section is still uninformed of its advantages. 'Developing this awareness and exposing the end user to the capabilities of RTLS is the key to success in this market, since it will drive the overall market by encouraging more adoptions,' suggests the analyst.
The high cost of RTLS projects is also a major hamper to market growth. Despite being aware of its benefits, many companies – especially small and medium enterprises – are held back from installing it by the staggering initial upfront costs. However, the technology cost is expected to come down by 25 to 50 percent in the next 3 to 5 years and once this happens, it is but a natural progression for RTLS to be widely adopted by industries of all sizes.
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