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Real-Time Location System (RTLS) Solutions - Global Market Trajectory & Analytics

  • ID: 2228065
  • Report
  • April 2021
  • Region: Global
  • 263 Pages
  • Global Industry Analysts, Inc
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Global Real-Time Location System (RTLS) Solutions Market to Reach $12.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Real-Time Location System (RTLS) Solutions estimated at US$3.8 Billion in the year 2020, is projected to reach a revised size of US$12.9 Billion by 2027, growing at a CAGR of 19.3% over the analysis period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to record a 16.4% CAGR and reach US$5.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 18.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 19% CAGR

The Real-Time Location System (RTLS) Solutions market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2027 trailing a CAGR of 19.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.5% and 16.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.

Services Segment to Record 25.2% CAGR

In the global Services segment, USA, Canada, Japan, China and Europe will drive the 25.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$696.3 Million in the year 2020 will reach a projected size of US$3.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027.

Select Competitors (Total 68 Featured):
  • AiRISTA Flow
  • CenTrak
  • DecaWave Ltd.
  • GE Healthcare
  • IDENTEC Solutions AG
  • Midmark Corporation
  • Mojix Inc.
  • Savi Technology Inc.
  • Sonitor Technologies Inc.
  • Stanley Healthcare
  • TeleTracking Technologies Inc.
  • Ubisense Group plc
  • Zebra Technologies Corporation
Note: Product cover images may vary from those shown
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I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Asset Management Goes Hi-Tech with Location Awareness
  • Recent Market Activity
  • Positive Global Economy Buoys General Market Optimism
  • Real Time Location Systems (RTLS) - The Buzzword for Comprehensive Location Tracking of People & Physical Assets in Organizations
  • Issues with Traditional Location Tracking Solutions Drive Focus on RTLS Solutions
  • RTLS - Market Dynamics
  • Volatile Economic Environment Encourages Use of RTLS as a Mainstream Cost Rationalization Strategy
  • Outlook
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • AiRISTA Flow (USA)
  • CenTrak (USA)
  • DecaWave Ltd. (Ireland)
  • GE Healthcare (USA)
  • IDENTEC Solutions AG (Austria)
  • Midmark Corporation (USA)
  • Mojix, Inc. (USA)
  • Savi Technology, Inc. (USA)
  • Sonitor Technologies, Inc. (USA)
  • Stanley Healthcare (USA)
  • TeleTracking Technologies, Inc. (USA)
  • Ubisense Group plc (UK)
  • Zebra Technologies Corporation (USA)
3. MARKET TRENDS & DRIVERS
  • Developing Markets - Hotspots for Growth
  • Manufacturing Industry - Traditional Revenue Contributor for RTLS
  • Global Manufacturing PMI - An Important Bellwether
  • Steady Production Outlook for Cars & Commercial Vehicles Augurs Well for RTLS Demand in Automotive Manufacturing
  • Emergence of Smart Factories - A Boon for RTLS Solutions Market
  • Healthcare Industry - A Market Laden with Immense Potential for RTLS Adoption
  • Growing Focus on Improving Patient and Work Flow Drives Business Case for RTLS
  • Need to Reduce Patient Waiting Time Drives Focus on Adoption of RTLS
  • Advanced Location and Monitoring for Improved Safety and Security of Patients and Staff
  • Location Based Intelligence Optimizes Inventory Management Costs
  • Automated Temperature Recording and Documentation for Compliance
  • Navigation Techniques and Forensics
  • Convergence of RTLS with Mobile Health to Pave Way for Smart Hospitals
  • Adoption of RTLS to Revolutionize Transportation and Logistics Operations
  • Expanding End-Use Markets to Drive Market for RTLS
  • Retail - A Highly Promising End-use Sector for RTLS Technologies
  • Sports - A Niche, Albeit Rapidly Emerging Application for RTLS Solutions
  • Opportunities Galore for RTLS in Safety and Security Applications Market
  • Agricultural Operations to Benefit from Growing Use of RTLS Solutions
  • Government Projects to Lend Traction to RTLS Market
  • Falling Upfront Costs to Spur Widespread Adoption and Implementation
  • RTLS - A Game Changer for the LBS Market
  • RTLS to Play Instrumental Role in Emerging World of Internet of Things
  • Technology Developments Boost Market Prospects for RTLS Solutions Market
  • Higher Degree of Customizability Increases Appeal for RTLS Solution
  • Integration of RTLS with ERP Boosts Return on Investment on Corporate IT Systems
  • Market Constraints
  • Lack of Awareness
  • Dragging Pace of Standardization, Lack of Interoperability of RTLS Products
  • High Total Cost of Ownership of RTLS Solutions
  • Growing Concerns Related to Data Privacy
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • REST OF EUROPE
  • ASIA-PACIFIC
  • REST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 68
Note: Product cover images may vary from those shown
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