DUBLIN--(BUSINESS WIRE)--The "Real-time Location System Market by Component, Technology, Wi-Fi, RFID, ZigBee, Infrared and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, 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.
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.
- 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.
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Porter'S Five Forces Analysis
3.3. Key Player Positioning
3.4. Case Studies
3.5. Market Dynamics
184.108.40.206. Rise in Need for Asset Tracking
220.127.116.11. Proliferation of Smartphones
18.104.22.168. Diverse Utility Across Applications
22.214.171.124. Increase in Adoption of Business Analytics Solutions
126.96.36.199. Operational Challenges
188.8.131.52. High Initial Costs
184.108.40.206. Technological Advancements
220.127.116.11. Blending of Technologies by Key Vendors to Offer Effective RTLS Applications
Chapter 4: Real Time Location System Market, by Component
Chapter 5: Real Time Location System Market, by Technology
5.2. Ultra-Wideband (UWB)
Chapter 6: Real Time Location System Market, by Industry Vertical
6.2. Transportation & Logistics
6.5. Manufacturing & Processing
Chapter 7: Real Time Location System Market, by Region
7.2. North America
Chapter 8: Competitive Landscape
8.1. Competitive Dashboard
8.2. Top Winning Strategies
8.3. Key Developments
Chapter 9: Company Profiles
9.3. Lockheed Martin Corporation
9.4. Redpine Signals, Inc.
9.5. Sonitor Technologies
9.6. Stanley Black & Decker, Inc.
9.7. Teletracking Technologies, Inc.
9.8. Ubisense Ltd.
9.9. Versus Technology, Inc.
9.10. Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/yk8zgu