The Real Time Location Systems (RTLS) market is expected to grow from USD +1Billion in 2017 to USD +8 Billion by 2023, at a CAGR of +24% between 2018 and 2023. The requirement for resource utilization and workflow optimization in several industries, rising market competitiveness, increasing technological advancements, and high return on investment are the major drivers for the RTLS market.
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Planning and control of inbound and outbound materials through supply chains within the production, retail and distribution represent a hard process. Improper management can bring about fabric wastage and less performance.
The predominant logistics and supply chain agencies are adopting RTLS in their operations to restrict these demanding situations. The actual time area gadget performs crucial position in belongings detection and monitoring within the logistics and transportation sector.
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Rising demand for the actual-time visibility in international supply chains is fueling the growth of the Real Time Location Systems (RTLS) Market.
When operating at full RF power, the RFID readers consume a large amount of energy. This can be overcome by decreasing the actual RF power level in which the reader is operating.
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The real time location systems can be deployed in the smart buildings, it will allow to track persons and assets. The live directions can be provided on projector floor images, personal devices, nearby displays and guided corridor lighting.
Automatic wayfinding in the smart buildings will allow drivers to find a nearest open parking spot. Such factors are expected to propel the overall market in future years.
Wi-Fi Segment Is Expected to Dominate the Real Time Location Systems (RTLS) Market across the Globe
According to the technology, the global industry is segmented into Radio Frequency Identification (RFID), Ultra-Wide Band(UWB), Infrared, GPS, Zigbee, Wi-Fi, Ultrasound, Bluetooth Low Energy and WhereNet. Unlike traditional approaches, Wi-Fi technology does not require the installation of specific receivers or aerials, it just needs to be connected with existing WI-FI networks.
The increased usage of Wi-Fi in transportation, healthcare, government, retail, the industrial and professional services sector is fueling the overall demand of the global market.
North America is expected to hold the largest market share for real time location systems (RTLS) market
North America represents the largest market for real time location systems (RTLS) led by high demand in the U.S and Canada. The three factors such as manpower, machines, and materials are very important in manufacturing industry and organizations are looking to track them on a real-time basis.
Adoption of the RTLS in United States manufacturing industry is the main driver which is propelling the real time location systems (RTLS) market. Organizations are mainly adopting these systems to improve labor productivity and operational efficiency and reduce machine idle times.
Real Time Location Systems (RTLS) Market is fragmented with the Presence of Global and Regional Players
Key participants of global market are AeroScout Industrial, Awarepoint Corporation, BeSpoon SAS, CenTrak, ChyronHego Corporation, Decwave, AiRISTA Flow, IDENTEC SOLUTIONS, Motorola Solutions, Inc., PINC Solutions, Savi Technology, Skytron, Sonitor Technologies, Inc., TeleTracking Technologies, Inc., Tyco Security Products, Ubisense, Versus Technology, Inc., and ZIH corp amongst others.
Recently, CenTrak, RTLS provider has included Bluetooth Low Energy (BLE) beacons in the sensor devices. This would enable healthcare organizations to provide wayfinding to their visitors through the apps.
With BLE, users can utilize their smartphones to communicate with CenTrak devices.
•Real Time Location Systems (RTLS) Market- by Component
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The report provides both, qualitative and quantitative research of the market, as well as it helps to gain important insights of current and future market and trending technologies adopted by the key players. The real time location systems (RTLS) market report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players.
The key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
Key participants of global real time location systems (RTLS) market are AeroScout Industrial, Awarepoint Corporation, BeSpoon SAS, CenTrak, ChyronHego Corporation, Decwave, AiRISTA Flow, IDENTEC SOLUTIONS, Motorola Solutions, Inc., PINC Solutions, Savi Technology, Skytron, Sonitor Technologies, Inc., TeleTracking Technologies, Inc., Tyco Security Products, Ubisense, Versus Technology, Inc., and ZIH corp amongst others.
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