Global Real-time Locating System Market, By Component (Hardware, Software), Architecture (Wi-Fi, RFID, Ultra-Wideband, Bluetooth, Ultrasound, ZigBee, Others), Application (Asset Tracking and Management, Supply Chain Management, Staff Locating and Monitoring and Visualization and Mapping), End-User (Healthcare, Retail, Manufacturing, Transport and Logistics, Defense and Sports and Entertainment), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Real-time locating system market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to reach at an estimated value of USD 121.1 billion by 2028 and grow at a CAGR of 24.8% in the above-mentioned forecast period.
Real-time locating device (also referred as RLTS) is basically a device which is utilized to locate and map the real-time position of items or individuals usually in a confined space such as building or other enclosed area. This device is also used in various end use industries such as into healthcare, retail, manufacturing, transport and logistics, defense and sports and entertainment.
The factors such as rise in need of asset tracking as well as the awareness about the pros of the real-time locating system coupled with the proliferation of smartphones are expected to emerge as the significant factors accelerating the growth of real-time locating system market. In addition to this, adoption of business analytics solutions in many organizations and increasing popularity of ultra-wideband technology will further aggravate the growth of the real-time locating system market in the above-mentioned forecast period. The improved ability of real-time locating system to track people or objects in real-time over the period of time also cushions the growth of the market. However, the operational challenges along with high initial cost required for setup results as a growth restraint for the market.
The technological innovations offered by various manufacturers or companies which also offer RTLS applications is anticipated to generate lucrative opportunities for the real-time locating system market in the forecast period of 2022 to 2029. The various concerns regarding data security and privacy will pose as a challenge for the Real-time locating system market.
This real-time locating system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Real-time locating system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Real-time Locating System Market Scope and Market Size
The real-time locating system market is segmented on the basis of component, architecture, application and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the real-time locating system market has been segmented into hardware and software.
- Based on architecture, real-time locating system market has been segmented into Wi-Fi, RFID, ultraband, Bluetooth, ultrasound, zigbee and others.
- On the basis of application, real-time locating system market has been segmented into asset tracking and management, supply chain management, transport and logistics and staff locating and monitoring and visualization and mapping.
- On the basis of end-user, real-time locating system market has been segmented into healthcare, retail, manufacturing, transport & logistics, defense, sports and entertainment.
Real-time Locating System Country Level Analysis
The real-time locating system market is analyzed and market size, volume information is provided by component, architecture, application and end-user as referenced above.
The countries covered in the real-time locating system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the real-time locating system market during the forecast period owing to the growth of RTLS applications in healthcare as well as manufacturing and processing sectors coupled with presence of major number of RTLS market vendors and wide scale adoption of mobility solutions within the region is expected to witness rapid growth in the forecast period of 2022 to 2029. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to growing awareness about the pros of the real-time locating system within the above mentioned forecast period.
The country section of the real-time locating system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Real-time Locating System Market Share Analysis
The real-time locating system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Real-time locating system market.
Some of the major players operating in the real-time locating system market report are CenTrak, DecaWave, Lockheed Martin Corporation, Ekahau, Redpine Signals Inc., GENERAL ELECTRIC, Sonitor Technologies, Stanley Black & Decker Inc., TeleTracking Technologies, Inc., Ubisense., arcweb, Midmark Corporation, Zebra Technologies Corp, AeroScout., Savi Technology, Hewlett Packard Enterprise Development LP, Impinj Inc., Airista Flow Inc., Cisco, Juniper Networks, Inc. among others.