Global Real-Time Locating System Market is Expected to Reach USD 23.8 Billion by 2026 : Fior Markets

Real-Time Locating System Market by Offering (Hardware, Software), Technology (Short Throw, Standard Throw), Vertical, Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2026

Pune, INDIA


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.

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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.

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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.

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