The real-time location systems (rtls) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Real-Time Location Systems (RTLS) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The real-time location systems (rtls) market size has grown exponentially in recent years. It will grow from $9.22 billion in 2023 to $11.9 billion in 2024 at a compound annual growth rate (CAGR) of 29.1%. The growth in the historic period can be attributed to increasing demand in manufacturing, logistics and supply chain efficiency, retail inventory management, employee safety and productivity, increased focus on patient care in healthcare..
The real-time location systems (rtls) market size is expected to see exponential growth in the next few years. It will grow to $32.52 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%. The growth in the forecast period can be attributed to expansion in retail for customer experience, demand for social distancing solutions, focus on sustainability, use in sports and entertainment, government initiatives for public safety. Major trends in the forecast period include indoor navigation solutions, growth in logistics and supply chain, ultra-wideband (uwb) technology adoption, cloud-based rtls solutions, privacy concerns and ethical considerations, integration with data analytics and ai..
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Scope Of Real-Time Location Systems (RTLS) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Real-Time Location Systems (RTLS) Market Overview
Market Drivers –
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 smartphones. 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. For instance, according to the Mobile User Statistics report, in 2021, there will be 3.8 billion smartphone users worldwide, accounting for 48.33% of the global population. Therefore, the increasing demand for smartphones drives the real-time location system (RTLS) market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The real-time location systems (rtls) market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Technology: RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Other Technologies
3) By Application: 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, Other Applications
4) By End Use Industry: Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing, Other End User Industries
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Regional Insights –
North America was the largest region in the real-time location systems (RTLS) in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (rtls) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the real-time location systems (rtls) market report are 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 Technologies Inc., Impinj Inc., Identec Group AG, Ekahau, Securitas AB, Aruba Networks, Alien Technology LLC, Mirion Technologies, Axcess International Inc., Awarepoint Corporation, Cerner Corporation, Elpas Solutions, Infor Inc., Intelligent InSites Inc., Mojix Inc., Navis, PLUS Location Systems, Redpine Signals Inc., RF Technologies Inc.
1. Executive Summary
2. Real-Time Location Systems (RTLS) Market Report Structure
3. Real-Time Location Systems (RTLS) Market Trends And Strategies
4. Real-Time Location Systems (RTLS) Market – Macro Economic Scenario
5. Real-Time Location Systems (RTLS) Market Size And Growth
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27. Real-Time Location Systems (RTLS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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