Dublin, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The "Global Real-Time Location System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Hardware, Software, and Services), Technology, Industry Vertical, and Application" report has been added to ResearchAndMarkets.com's offering.
The global real-time location systems market is expected to grow from US$ 4,097.3 million in 2021 to US$ 18,878.4 million by 2028; it is estimated to grow at a CAGR of 24.4% during 2021-2028.
Online shopping is increasing at the fastest pace across the world. E-commerce sales have been growing at a significant rate over the last decade and are anticipated to grow in the coming years. APAC shows the strongest development and accounts for nearly half of the overall online sales. Besides this, Europe is also a key region supporting e-commerce growth. The e-commerce industry in Europe was worth US$ 425.2 billion in 2020 and is expected to grow by 30% in 2021 according to Finaria. Amazon and other e-retailers have taken over conventional retail.
Many shoppers in Europe prefer online shopping platforms, such as Amazon, Target, and Wal-Mart, which is the major reason for the growth of the e-commerce sector in Europe. Increasing demand for making retail cost-efficient and generally faster means that companies need to optimize supply chain management and build robust solutions to meet the demands. A survey conducted in the UK of 250 distribution warehouse and supply chain managers revealed that ~3,000 hours of are lost due to unproductive workflows at distribution centers.
The real-time location system proves to be a highly efficient instrument that is used for monitoring and locating goods, as it provides resourceful insights to the distribution center operators to make data-driven decisions rather than relying on educated guesses. Thus, the growing ecommerce industry coupled with the increasing need for making data-driven decisions drives the real-time location system market growth.
The real-time location systems market is segmented on the basis of offering, technology, industry vertical, application, and geography. Based on offering, the market is segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest share in the market. In terms of technology, the real-time location systems market is segmented into Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, and Others. In 2020, the Bluetooth Low Energy (BLE) segment accounted for the substantial share of the market.
Based on industry vertical, the market is segmented into heavy industries, manufacturing, retail, oil and gas, automotive, construction, government and defense, education, and others. In 2020, the retail segment dominated the market. By application, the market is segmented into personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, and others.
In 2020, the personnel/staff locating and monitoring segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.
A few major players operating in the global real-time location systems market are Aruba Networks; AiRISTA Flow Inc.; Decawave Limited; Impinj, Inc.; Siemens AG; Zebra Technologies Corporation; Sonitor Technologies AS; Stanley Black & Decker, Inc.; TeleTracking Technologies Inc.; and Ubisense.
Reasons to buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Real-Time Location System market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global Real-Time Location System market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Real-Time Location Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Real-Time Location Systems Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Deployment of Ultra-Wideband (UWB) Based Real-Time Location System
5.1.2 Booming Ecommerce Industry
5.2 Market Restraints
5.2.1 Security Concerns Regarding Tag Hardware
5.3 Market Opportunities
5.3.1 Need for Social Distancing and Contact Tracing Due COVID-19 Pandemic
5.4 Future Trends
5.4.1 Emergence of IoT and Industry 4.0
5.5 Impact Analysis of Drivers and Restraints
6. Real-Time Location Systems Market - Global Analysis
6.1 Real-Time Location Systems Market Global Overview
6.2 Real-Time Location Systems Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Share Analysis- Five Key Players (2020)
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
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. Company Profiles
14.1 Aruba Networks
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 AiRISTA Flow Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Decawave Limited
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Impinj, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Siemens AG
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Zebra Technologies Corporation
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Sonitor Technologies AS
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Stanley Black & Decker, Inc.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 TeleTracking Technologies Inc
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Ubisense
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/qirtrj
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