The RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7 billion by 2026, at a CAGR of 26.5%.
Real-time location systems (RTLSs) are also known as local positioning and tracking systems, which are primarily used to automatically identify and locate the exact position of objects/people/targets in real time for diverse environments and industries. RTLS tags/badges/sensors, attached to the objects or worn by people, communicate wirelessly with fixed receivers/readers/trackers/exciters/reference points/access points installed in the vicinity.
• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1276
Different wireless technologies, such as radio-frequency identification (RFID), wireless fidelity (Wi-Fi), ultrasound, infrared, or infrared radiation (IR), ultra-wideband (UWB), and Bluetooth Low Energy (BLE), are used in modern RTLS solutions depending on the use case or application area. Each technology has its own advantages and disadvantages with respect to the accuracy, cost, power consumption, scalability, signal coverage, and many more. Wi-Fi, Bluetooth, and RFID can bring accuracy up to several meters, while UWB is more suitable for applications where positioning accuracy is critical.
RTLS solutions are used for multiple applications in different verticals, such as healthcare, retail, manufacturing, and transportation and logistics. The RTLS market has been classified based on offering, technology, vertical, application, and region. By offering, the market has been segmented into hardware, software, and services. By technology, the market has been segmented into RFID, Wi-Fi, UWB, BLE, ultrasound, IR, GPS, and others. Furthermore, with respect to the adoption of RTLS solutions in diverse verticals, the market has been segmented into healthcare, manufacturing and automotive, retail, transportation and logistics, government and defense, education, oil & gas, mining, sports and entertainment, and others.
By application, the market has been segmented into inventory/asset tracking and management; personnel/staff locating and monitoring; access control/security; environmental monitoring; yard, dock, fleet, and warehouse management and monitoring; supply chain management and operational automation/visibility; and others. Geographically, the RTLS market has been classified into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Browse 146 data tables, 67 figures, and an in-depth TOC on “RTLS Market – Global Forecast to 2026.”Early buyers will receive 10% customization on the report.
Inventory/asset tracking and management application is expected to hold the highest market share in 2026
The inventory/asset tracking and management application accounted for the largest share of the overall RTLS market in 2026, and a similar trend is likely to be observed throughout the forecast period. RTLS technologies are predominantly used in asset/inventory tracking and management applications in various industries to ensure better utilization of available resources and reduce wastage of time during operations. Healthcare, manufacturing and automotive, and retail are among a few of the major verticals in which RTLS solutions are used for inventory/asset tracking and management.
APAC is attributed to grow at the highest CAGR in RTLS market during the forecast period (2021-2026)
APAC is expected to grow at the highest CAGR in the overall RTLS market. China, Japan, Australia, and South Korea are the major countries that are likely to contribute to the growth of the RTLS market in APAC. The use of RTLS in the healthcare market in APAC is growing primarily due to the rise in the number of smartphone and tablet users, partnerships between RTLS players and hospitals, and the presence of supportive government policies. Advancements in technology have always had a significant impact on the field of medicine.
Smartphones are one of the most dynamic and ubiquitous trends in communication and real-time location tracking. Moreover, these devices are primarily used in the RTLS solutions for tracking and monitoring patients, staff, as well as medical equipment. Mobile phones can also be used for communicating through different platforms, such as email, performing internet searches, and various other applications. Smartphones are one of the fastest-growing sectors in the technology industry, and its impact on medicine has already been observed significantly. Smartphones are making it easier in terms of day-to-day chores, and the technology is also streamlining care for both physicians and patients.
Key Market Players
Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), and Savi Technology (US) are among the key players in the RTLS market.
Study Coverage:
This report categorizes the RTLS market by offering, technology, application, vertical, and region. The report also describes the drivers, restraints, opportunities, and challenges of this market. Further, the report includes the value chain analysis, porter’s five forces analysis, trade analysis, ecosystem, technological trends, pricing analysis, key patents, standards and frameworks, and case studies/use cases.
Brief information on the research methodology for the report can be found in the report description provided on the website.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/real-time-location-systems-market-1322.html
