Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Real-Time Location Systems Market Forecast to 2030 - Global Analysis by Offering, Technology, Industry Vertical, Application" report has been added to ResearchAndMarkets.com's offering.
The global real-time location systems (RTLS) market is on a promising trajectory, poised to surge from its 2022 valuation of USD 4.91 billion to an impressive USD 31.09 billion by 2030. This growth projection is underpinned by a robust Compound Annual Growth Rate (CAGR) of 26.4% during the forecast period.
Healthcare Sector Driving Demand
RTLS technology, with its ability to seamlessly track assets and patients, is expected to witness heightened demand within the healthcare sector during the forecast period. This infusion of demand is set to contribute significantly to the expansion of the real-time location systems market.
Asia Pacific: A Hub of Opportunities
The rise in demand for real-time location systems in emerging economies like India and China is expected to create a tapestry of lucrative opportunities for market players in the Asia Pacific (APAC) region. The burgeoning manufacturing, retail, and logistics sectors in APAC are triggering a surge in the need for asset tracking, subsequently fueling the demand for real-time locating systems. The ascending demand for RTLS across these sectors is nudging market players to provide advanced solutions, with innovations driving growth.
A prime example is Advantech, a leading provider of industrial computing platform solutions in Taiwan, which introduced a real-time location system (RTLS) solution-ready package (SRP) for the real-time locating and monitoring of medical equipment, staff, and patients in 2020. Such innovative strides by market players are poised to amplify the growth of the real-time location systems market in APAC.
Exploring the Segmentation Landscape
- Offering: The real-time location systems market is segmented into hardware, software, and services.
- Technology: RTLS technology spans radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), ultrasound, infrared (IR), global positioning systems (GPS), and others.
- Industry Vertical: The market caters to heavy industries, manufacturing, retail, oil & gas, automotive, transportation & logistics, construction, government & defense, education, and more.
- Application: RTLS applications encompass inventory/asset tracking and management, personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, and others.
Key Players and Their Strategic Insights
Prominent players shaping the RTLS landscape include Aruba Networks, AiRISTA Flow Inc, Qorvo Inc, Impinj Inc, Siemens AG, Zebra Technologies Corp, Sonitor Technologies AS, Stanley Black & Decker Inc, TeleTracking Technologies Inc, and Ubisense Ltd. These key market players are leveraging detailed insights from the real-time location systems market report to chart strategic growth paths across the realm of real-time locating systems.
A Journey Toward Enhanced Efficiency
As the global real-time location systems market embarks on this exponential journey, the intersection of technological innovation, rising demand, and strategic collaborations is set to redefine industries. The realm of real-time tracking and location promises heightened operational efficiency, cost optimization, and enriched experiences. Amid this growth, market players are poised to wield their expertise, innovation, and insights to navigate this trajectory, charting a course toward transformative advancement and value creation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 270 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $4.91 Billion |
| Forecasted Market Value (USD) by 2030 | $31.09 Billion |
| Compound Annual Growth Rate | 26.4% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Real-Time Location Systems Market Landscape
5. Real-Time Location Systems Market - Key Market Dynamics
6. Real-Time Location Systems Market - Global Analysis
7. Real-Time Location Systems Market Analysis - By Offering
8. Real-Time Location Systems Market - By Technology
9. Real-Time Location Systems Market - By Industry Vertical
10. Real-Time Location Systems Market - By Application
11. Real-Time Location Systems Market - Geographic Analysis
12. Impact of COVID-19 Pandemic
13. Industry Landscape
14. Company Profiles
A selection of companies mentioned in this report includes:
- Aruba Networks
- AiRISTA Flow Inc.
- Qorvo Inc.
- Impinj Inc.
- Siemens AG
- Zebra Technologies Corp.
- Sonitor Technologies AS
- Stanley Black & Decker Inc.
- TeleTracking Technologies Inc.
- Ubisense Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1bm9i1
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