DUBLIN--(BUSINESS WIRE)--The "Real-Time Location Systems (RTLS) Global Market Report 2021: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
The global real-time location systems (RTLS) market is expected to grow from $4.13 billion in 2020 to $5.37 billion in 2021 at a compound annual growth rate (CAGR) of 30%.
The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $14.81 billion in 2025 at a CAGR of 28.9%.
The real-time location systems (RTLS) market consists of sales of real-time location systems by entities (organizations, sole traders, and partnerships) that are used to automatically recognize and track the location in real-time. A real-time location system (RTLS) is one of several systems that recognizes a target's present geolocation, which can range from a vehicle to a manufacturing plant product to a human. The RTLS is used for fleet tracking, navigation, inventory and asset tracking, personnel tracking, and network security.
The main types of components in real-time location systems (RTLS) are hardware, software, and service. In RTLS hardware, a transmitter is attached to an individual or property and uses a wireless signal to provide identification and location data to receivers. Signals from tagged assets are received by RTLS receivers placed across the facility, which identify the location. They can detect location either by the tag's proximity to receivers or by a mathematical technique called trilateration, based on the wireless technology employed.
The different technologies include RFID, Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), ultrasound, infrared (IR), GPS, and others and is used in inventory or asset tracking and management, personnel or staff locating and monitoring, access control and security, environmental monitoring, supply chain management, and operational automation or visibility, others. It is implemented in various verticals such as transportation and logistics, healthcare, retail, manufacturing and processing, and others.
North America was the largest region in the real-time location systems (RTLS) in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing technological advancements are shaping the real-time location system (RTLS) market. Major firms operating in the real-time location system (RTLS) sector are focused on developing technological solutions for real-time locating and monitoring of assets and employees. The MSDF technology, which uses a software algorithm to decrease interference from barriers, improves positioning effectiveness in challenging indoor environments, making it perfect for hospitals, nursing homes, and clinics.
The increasing demand for smartphones is expected to propel the growth of the real-time location system (RTLS) market in the coming years. A smartphone is a portable electronic device that connects to a cellular network. Smartphones enable users to make phone calls, deliver text messages and connect to the internet.
The growing population across the globe has led to an increase in the demand for the smartphone. Smartphones are used for incident response and emergency management because of real-time location system (RTLS) innovation, which is used to automatically spot and track the destination of objects or people in real-time. The increasing demand for smartphones drives the growth of the real-time location system (RTLS) market.
Key Topics Covered:
1. Executive Summary
2. Real-Time Location Systems Market Characteristics
3. Real-Time Location Systems Market Trends and Strategies
4. Impact Of COVID-19 On Real-Time Location Systems
5. Real-Time Location Systems Market Size and Growth
5.1. Global Real-Time Location Systems Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Real-Time Location Systems Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Real-Time Location Systems Market Segmentation
6.1. Global Real-Time Location Systems Market, Segmentation by Component, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hardware
- Software
- Service
6.2. Global Real-Time Location Systems Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- RFID
- Wi-Fi
- Ultra-wideband (UWB)
- Bluetooth Low Energy (BLE)
- Ultrasound
- Infrared (IR)
- GPS
- Others
6.3. Global Real-Time Location Systems Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Inventory Or Asset Tracking and Management
- Personnel Or Staff Locating and Monitoring
- Access Control and Security
- Environmental Monitoring
- Supply Chain Management and Operational Automation Or Visibility
- Others
6.4. Global Real-Time Location Systems Market, Segmentation by End Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Transportation and Logistics
- Healthcare
- Retail
- Manufacturing and Processing
- Others
7. Real-Time Location Systems Market Regional and Country Analysis
7.1. Global Real-Time Location Systems Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Real-Time Location Systems Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Zebra Technologies Corp.
- Stanley Healthcare
- CenTrak, Inc.
- Ubisense Group PLC.
- TeleTracking Technologies, Inc.
- Sonitor Technologies AS
- AeroScout Industrial
- DecaWave Limited
- Midmark Rtls Solutions, Inc.
- AiRISTA Flow, Inc.
- Savi Technology
- Lockheed Martin Corporation
- GE Healthcare
- Impinj
- Identec Group AG
- Ekahau
For more information about this report visit https://www.researchandmarkets.com/r/wbtv4e
