Newark, NJ, Feb. 25, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global real-time locating system market is expected to grow from USD 4.12 billion in 2018 to USD 23.8 billion by 2026 at a CAGR of 24.5% during the forecast period from 2018-2026. The real-time locating system market has been witnessing rapid growth from the past few years. Companies in a variety of industries—from agriculture to healthcare and transportation to manufacturing—use location as the input to a number of critical business processes.
A real-time location system (RTLS) is used to identify and detect the geographical position of people and objects in real-time. It comprises a wireless tag that is attached to objects or individuals and the signals conveyed from this tag are analyzed with respect to a fixed point of reference, which helps to provide the precise location of the individual or the object. The system consists of battery-powered tags, location readers, sensors, application software, and network infrastructure. Real-time locating systems provide easy identification and tracking of assets which include tools, containers, medical equipment, and trailers.
The global real-time locating system market is expected to witness rapid growth over the forecast period, owing to supportive government policies for the promotion of real-time locating solutions. However, issues related to privacy and data security may obstruct the growth of the market, over the forecast period. Nevertheless, adoption of hybrid RTLS solution is anticipated to offer future growth opportunities in the market.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/386065/request-sample
Key players operating in the global real-time locating system market are Axcess International, Inc., SAVI Technology, Sonitor Technologies AS, Stanley Healthcare Solutions (AeroScout, Inc.), Zebra Technologies Corp., Versus Technology, Inc., TeleTracking Technologies, Inc., Awarepoint Corp., DecaWave Limited, and Ubisense Group PLC among others. To enhance their market position in the global Real-time locating system market, the key players are now focusing on adopting the strategies such as product innovation, recent developments, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in October 2017, Smartbow GmbH and Nanotron Technologies GmbH announced that they are entering into an exclusive supply agreement for nanoLOC location chips. The product delivered by nanotron is used in both the Smartbow ear tag and the nanotron-provided receiver.
- In August 2016, STANLEY Healthcare and InterSystems, a global leader in health information technology, announced the partnership to enable new Internet of things (IoT) applications in healthcare. InterSystems interoperability platform supports key integrations for STANLEY Healthcare’s Healthcare’s AeroScout Real-Time Location System (RTLS) platform for patient flow and staff workflow solutions.
The hardware segment held the major market share and valued around USD 2.10 billion in 2018
Offering segment is divided into segments such as software, hardware, and services. The hardware segment held the major market share and valued around USD 2.10 billion in 2018. Hardware for RTLS consist of readers or specialized receivers that pick up signals from both smart devices and from beacon tags attached to assets. Each beacon tag transmits a unique ID in real time, allowing a user to access location information at any time from web browser or an application.
The UWB segment held the highest market share of 27.20% in 2018
The technology segment includes BLE, RFID, Wi-Fi, UWB, Infrared (IR), Ultrasound, GPS and Others. The UWB segment held the highest market share of 27.20% in 2018. The UWB technology can support locating a large number of objects down to the range of few centimetres. The declining prices of UWB tags are likely to boost the demand for UWB technology-based RTLS solutions from various verticals such as manufacturing, transportation, and logistics in the coming years.
The healthcare segment accounted for the major market share and valued around USD 1.05 billion in 2018
The vertical segment is classified into healthcare, manufacturing & automotive, retail, transportation & logistics, government & defense, education, oil & gas, mining, sports & entertainment, and others. The healthcare segment accounted for the major market share and valued around USD 1.05 billion in 2018. Increase in the proliferation of RTLS technology is expected to enable patients to search hospitals or labs as per their convenience, thereby driving the real-time locations systems market growth. Also, the rapid adoption of WLAN and Wi-Fi networks in public places and hospitals is expected to drive the market growth during the forecast period.
The fleet segment is dominating the market with the highest share of 30.10% in 2018
The application segment includes inventory/asset management, personnel/staff management, access control/security, environmental monitoring, yard, dock, fleet, & warehouse, supply chain management & operational automation/visibility and others. The fleet segment is dominating the market with the highest share of 30.10% in 2018. Fleet-tracking systems enable an enterprise for tracking the vehicles location and its speed, optimizing the routes, scheduling the jobs, for navigational purposes, and further analysing the driver efficiency.
Browse full report with TOC at https://www.fiormarkets.com/report/real-time-locating-system-market-by-offering-hardware-software-technology-386065.html
Regional Segment Analysis of the Real-Time Locating System Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the largest market share of approximately 43.40% in 2018. The North America region is dominating the market owing to high technological awareness coupled with the growing trend in the adoption of real-time locating systems in government applications and several other industries. Asia Pacific is anticipated to grow ta highest CAGR in the global real-time locating system market. This is mainly due to the untapped applications of RTLS solutions in different industries in region. Countries such as Japan, China, South Korea, and Australia are also expected to witness high growth in the RTLS market in Asia Pacific region.
About the report:
The global real-time locating system market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
For Instant Purchase:
- Single User License: https://www.fiormarkets.com/checkout.html?reportid=386065&type=single
- Corporate License: https://www.fiormarkets.com/checkout.html?reportid=386065&type=corp
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To Read Top Industries Reports, Visit our Affiliated Website: https://www.magnifierresearch.com
Related Reports
Global 3D NAND Flash Memory Market - https://www.fiormarkets.com/report/global-3d-nand-flash-memory-market-by-type-375997.html
Global Aeroderivative Gas Turbine Market - https://www.fiormarkets.com/report/global-aeroderivative-gas-turbine-market-by-capacity-375999.html
Global Airborne LiDAR Market - https://www.fiormarkets.com/report/global-airborne-lidar-market-by-solution-system-services-376001.html
Global Airport Stands Equipment Market - https://www.fiormarkets.com/report/global-airport-stands-equipment-market-by-equipment-boarding-376003.html