Real-time location system (RTLS) are precise positioning systems that enables user to identify, track and provide information about various objects such as equipment, tools, assets, containers, people and more, in real-time, through automatic feedback. Usually RTLS can locate and track objects or individuals, inside or an outside restricted area. Wireless RTLS tags are attached to objects, and fixed reference points receive wireless signals from the tags and detect the location. For instance, RTLS used for tracking of vehicles along the production line. RTLS incorporates location readers, sensors, application software, battery powered tags, and network infrastructure. Apart from real-time tracking in diverse business processes for increased accuracy & productivity, RTLS also offers benefits such as enhancement in safety and security of staff, effective logistic & supply chain operations, and smooth process operation.
Rise in need for asset tracking, proliferation of smartphones, growing adoption of business analytics solutions, as well as rise in awareness about the benefits of real-time location system are the major factors that drive the growth of the real-time location system market. However, operational challenges and high initial costs are expected to hinder the real-time location system market growth. On the contrary, technological advancements and blending of technologies by key vendors to offer effective RTLS applications are expected to provide lucrative opportunities for market growth during the forecast period.
The real-time location system market is segmented on the basis of component, technology, industry vertical, and region. By component, the market is categorized into hardware, software and service. As per technology, market is divided into Ultra-Wideband (UWB), Wi-Fi, RFID, ZigBee, infrared, and other. Depending on industry vertical, it is categorized into transportation & logistics, healthcare, retail, manufacturing & processing, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The company profiles of real-time location system market players included in this report are Stanley Healthcare Solutions (AeroScout, Inc.), Redpine Signals, Zebra Technologies Corp., Versus Technology, Inc., Lockheed Martin corporation, Sonitor Technologies AS, TeleTracking Technologies, Inc., CenTrak, DecaWave Limited, and Ubisense Group PLC Inc.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Technology
By Industry Vertical
BY REGION
KEY MARKET PLAYERS
Rise in need for asset tracking, proliferation of smartphones, growing adoption of business analytics solutions, as well as rise in awareness about the benefits of real-time location system are the major factors that drive the growth of the real-time location system market. However, operational challenges and high initial costs are expected to hinder the real-time location system market growth. On the contrary, technological advancements and blending of technologies by key vendors to offer effective RTLS applications are expected to provide lucrative opportunities for market growth during the forecast period.
The real-time location system market is segmented on the basis of component, technology, industry vertical, and region. By component, the market is categorized into hardware, software and service. As per technology, market is divided into Ultra-Wideband (UWB), Wi-Fi, RFID, ZigBee, infrared, and other. Depending on industry vertical, it is categorized into transportation & logistics, healthcare, retail, manufacturing & processing, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The company profiles of real-time location system market players included in this report are Stanley Healthcare Solutions (AeroScout, Inc.), Redpine Signals, Zebra Technologies Corp., Versus Technology, Inc., Lockheed Martin corporation, Sonitor Technologies AS, TeleTracking Technologies, Inc., CenTrak, DecaWave Limited, and Ubisense Group PLC Inc.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global real-time location system market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analyses on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global real-time location system market from 2018 to 2026 is provided to determine the market potential.
KEY MARKET SEGMENTS
By Component
- Hardware
- Software
- Service
By Technology
- Ultra-Wideband
- Wi-Fi
- RFID
- ZigBee
- Infrared
- Others
By Industry Vertical
- Transportation & Logistics
- Healthcare
- Retail
- Manufacturing & Processing
- Others
BY REGION
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- CenTrak
- DecaWave Limited
- Lockheed Martin corporation
- Redpine Signals, Inc.
- Sonitor Technologies
- Stanley Black & Decker, Inc.
- TeleTracking Technologies, Inc.
- Ubisense Ltd.
- VERSUS TECHNOLOGY, INC
- Zebra Technologies Corp
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Real Time Location System Market, by Component
Chapter 5: Real Time Location System Market, by Technology
Chapter 6: Real Time Location System Market, by Industry Vertical
Chapter 7: Real Time Location System Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profile
Executive Summary
According to the report titled, 'Real-time location system Market by Component, Technology, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2019-2026', the global market was valued at $2.83 billion in 2018, and is projected to reach $23.13 billion by 2026, growing at a CAGR of 30.2% from 2019 to 2026.Real-time location systems (RTLS) detects and tracks the geographical position of people and objects in real-time. The RTLS consists of a tag that is attached to objects or individuals and the signals conveyed from this tag are analyzed with respect to a fixed point of reference which helps in finding the precise location of the individual or the object. RTLS encompasses location readers, sensors, application software, battery powered tags, and network infrastructure. Increase in demand for smartphones, diverse opportunity across various asset tracking applications, and rapid proliferation of business analytics solutions are some of the factors that majorly boost the growth of the real-time location system market.
Ongoing scaling of existing real-time location system deployment, rise in demand for asset tracking, growing adoption of IoT, proliferation of smartphones, diverse applications of RTLS across multiple industry verticals, are the factors that majorly boost the growth of the global market. However, operating challenges and higher initial costs are expected to hamper the market growth. On the contrary, technological advancements and blending of technologies by key vendors to offer effective RTLS applications are expected to offer lucrative opportunities to the real-time location system market.
The hardware segment held the majority of global real-time location system market share in 2018, and is projected to maintain its dominance during the forecast period. The services segment is expected to witness highest growth rate of 31.3% from 2019 to 2026. This is attributed to the rise in need for the support and consultancy services needed for deploying RTLS hardware as well as software suitable according to enterprise or industry needs. Increase in adoption of RTLS hardware and platforms is expected to boost the demand for these services.
The ultra-wideband (UWB) segment is expected to witness highest growth rate in global real-time location system market during the forecast period. The high precision location identification, low interference with other signals, usability in both outdoor and indoor environments, and an acceptable operating range are the crucial factors that lead to the increase in demand for real-time location system in transport & logistics sector.
As per region, the global real-time location system market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. Factors such as increase in applications of RTLS across healthcare, real estate, and hospitality areas in North America are the major drivers for market growth. In addition, rise in investment in the defense sector, significant adoption of mobility, and technological advancement in telecommunication industry are expected to drive the RTLS market growth during the forecast period.
Key Findings Of The Study
By component, the hardware segment led the real-time location system market size in terms of revenue in 2018.
By technology, the RFID segment accounted for the highest market share in 2018.
Region wise, North America generated the highest revenue in 2018; however, Asia-Pacific is anticipated to exhibit substantial growth during the real-time location system market forecast period.
By industry vertical, the others segment including education, energy, and more industries is anticipated to exhibit highest growth during the forecast period.
The global real-time location system market analysis includes some of the key market players such as Stanley Healthcare Solutions (AeroScout, Inc.), Redpine Signals, Zebra Technologies Corp., Versus Technology, Inc., Lockheed Martin Corporation, Sonitor Technologies AS, TeleTracking Technologies, Inc., CenTrak, DecaWave Limited, and Ubisense Group PLC Inc.
Companies Mentioned
- Stanley Healthcare Solutions (AeroScout Inc.)
- Redpine Signals
- Zebra Technologies Corp.
- Versus Technology Inc.
- Lockheed Martin Corporation
- Sonitor Technologies AS
- TeleTracking Technologies Inc.
- CenTrak
- DecaWave Limited
- Ubisense Group PLC Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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