New York, NY, July 14, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Real-Time Locating System (RTLS) Market By Component (Hardware and Software), By Locating Architecture (Wi-Fi, Ultra-Wideband (UWB), RFID, Bluetooth (BLE), ZigBee, Ultrasound, and Others), By Application (Supply Chain Management, Staff Locating & Monitoring, Asset Tracking & Management, Visualization & Mapping, Workflow & Process Automation, and Others), and By End-User (Manufacturing, Transportation & Logistics, Healthcare, Retail, Defense, Sports & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis,and Forecast, 2017–2024”.
According to the report, the global real-time locating system (RTLS) market was valued at approximately USD 2.37 billion in 2017 and is expected to reach approximately USD 11.81 billion by 2024, at a CAGR of around 25.80% between 2018 and 2024.
Real-time locating system (RTLS) is a technology that uses electronic systems to trace things or people by means of small electronic devices implanted objects. Locating technologies consist of radio frequency (RF), ultrasound, Wi-Fi, infrared (IR), and Bluetooth low energy (BLE). Several RTLS providers use technologies that are based on the granularity of data needed for the application. Ultrasound provides the maximum granularity from room to bay level accuracy and reliability. The real-time location systems are used in manufacturing, smart warehouses, healthcare, and education, among other industries to maximize the efficiency of workflow and control inventory and assets.
Browse through 87 Tables & 43 Figures spread over 193 Pages and in-depth TOC on “Global Real-Time Locating System (RTLS) Market Size & Share 2017 Analysis: Industry Growth, Trends Analysis and Forecast to 2024”.
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High return on investment (ROI) is one of the prominent factors driving the growth of the global real-time locating system (RTLS) market. Unlike other technologies, the real-time location system is better for financial and operational returns and helps in better positioning of organizations to thrive by reducing compensation. Increasing adoption of the real-time locating system in healthcare organizations is further expected to drive the real-time locating system (RTLS) market globally. The real-time locating system provides insight into improving patient, clinician, and asset flow. These systems also optimize the patient-clinician interaction, improve safety, and reduce care delays. Furthermore, the wide adoption of big data analytics associated with navigation and maps by enterprises is likely to fuel the growth of the real-time locating system (RTLS) market. However, data security and privacy are major factors that might restrain the real-time locating system (RTLS) market.
Real-time locating system (RTLS) market is segmented based on component, locating architecture, application, and end-user. By component, this market includes hardware and software. By locating architecture, the real-time locating system (RTLS) market is divided into Wi-Fi, RFID, ultra-wideband (UWB), Bluetooth (BLE), ultrasound, ZigBee, and others. By application, the real-time locating system (RTLS) market is segmented into supply chain management, staff locating and monitoring, asset tracking and management, visualization and mapping, workflow and process automation, and others. The asset tracking and management segment hold the largest share in the real-time locating system (RTLS) market. Asset tracking and management allows organizations to manage assets, streamline efficiency, and reduce costs, which, in turn, improves the quality, patient safety, and the financial bottom line.
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By end-user, this market includes healthcare, retail, manufacturing, transportation and logistics, defense, sports and entertainment, and others. The retail segment is likely to register moderate growth in the global real-time locating system (RTLS) market. RTLS helps retail organizations to work more efficiently by providing real-time material handling information.
North America is projected to hold the largest share in the real-time locating system (RTLS) market, due to the increasing adoption of RTLS systems in the manufacturing sector. Increasing popularity of connected factories in the U.S. has boosted the demand for RFID and RTLS systems in North America. The North American manufacturing sector continues to grow, even though its total economic output share has fallen since its peak. The sector still remains a major driver of innovation, jobs, and prosperity. The U.S. is the largest trading partner for both Canada and Mexico, accounting approximately 80% of each country’s exports.
Browse the full "Real-Time Locating System (RTLS) Market By Component (Hardware and Software), By Locating Architecture (Wi-Fi, Ultra-Wideband (UWB), RFID, Bluetooth (BLE), ZigBee, Ultrasound, and Others), By Application (Supply Chain Management, Staff Locating & Monitoring, Asset Tracking & Management, Visualization & Mapping, Workflow & Process Automation, and Others), and By End-User (Manufacturing, Transportation & Logistics, Healthcare, Retail, Defense, Sports & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis,and Forecast, 2017–2024" report at https://www.zionmarketresearch.com/report/real-time-location-system-market
Europe is likely to register moderate growth in the global real-time locating system (RTLS) market. Growing use of the real-time locating system in sports has driven the growth of the European RTLS market. Real-time locating systems are used in sports for player tracking, asset tracking, and player training tracking. European sports industry is gaining significant momentum due to increasing sports merchandising, training, and education. According to the European Commission, the sports industry is worth USD 345 billion and employs 4.5 million people. Approximately 1.3 Million services jobs are directly connected to the sports sector, whereas around 700,000 people are employed in clubs and sporting facilities.
Asia Pacific is likely to register the highest growth rate in the global real-time locating system (RTLS)market. The increasing necessity for mandatory monitoring of supplies and goods at immigration depots, cross-docking points, and containers at ports are the major factors contributing to the real-time locating system (RTLS) market in the Asia Pacific region. According to a recent study by the Association of Southeast Asian Nations (ASEAN), the Southeast Asian region is anticipated to be the next top destination for transportation and logistics by 2025, replacing China, with its large consumer base, geographic proximity, and low costs. Major logistics industry players are adopting an online business model for cost-effective business, due to increasing consumer base, owing to urbanization in the ASEAN countries and growing digital penetration.
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The report covers a detailed competitive outlook including company profiles of the key participants operating in the global real-time locating system (RTLS)market. Key players profiled in this reportareStanley Healthcare, Zebra Technologies, Aruba Networks (HP Enterprise), Impinj, SaviTechnology, Teletracking Technologies, Ubisense Group, Arista, Awarepoint, Identec Group, and Alien Locating Architecture, among others.
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This report segments the real-time locating system (RTLS) market as:
Global Real-Time Locating System (RTLS) Market: Component Segment Analysis
- Hardware
- Software
Global Real-Time Locating System (RTLS) Market: Locating ArchitectureSegment Analysis
- Wi-Fi
- RFID
- Ultra-Wideband (UWB)
- Bluetooth (BLE)
- Ultrasound
- ZigBee
- Others
Global Real-Time Locating System (RTLS) Market: Application Segment Analysis
- Asset Tracking & Management
- Supply Chain Management
- Staff Locating & Monitoring
- Workflow & Process Automation
- Visualization & Mapping
- Others
Global Real-Time Locating System (RTLS) Market: End-User Segment Analysis
- Healthcare
- Retail
- Manufacturing
- Transportation & Logistics
- Defense
- Sports & Entertainment
- Others
Global Real-Time Locating System (RTLS) Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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