The report "Real-Time Location System Market (RTLS)by Offering (Hardware, Software, Services), Technology (RFID, Wi-Fi, UWB, BLE), Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use Case, and Geography - Global Forecast to 2025", is expected to grow from USD 3.2 billion in 2018 to USD 10.9 billion by 2025, at a CAGR of 19.2% between 2018 and 2025. The emergence of innovative startups, market competitiveness, and availability of customized solutions; high return on investment; and regulatory compliance across industries including healthcare, oil & gas, mining, education, and manufacturing are the factors driving the growth of the real-time location systems market. Concerns regarding data security and privacy and unsatisfactory results and negative feedback from RTLS end users and the high cost of acquisition and maintenance would be the major factors restraining the growth of the market.
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Browse 102 market data Tables and 71 Figures spread through 202 Pages and in-depth TOC on "Real-Time Location System Market (RTLS) by Offering (Hardware, Software, Services), Technology (RFID, Wi-Fi, UWB, BLE), Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use Case, and Geography - Global Forecast to 2025"
DecaWave (Ireland), Redpine Signals (US), Visible Assets (US), Litum Technologies (Turkey), Mojix (US), Tracktio (Spain), CenTrak (US), and OpenRTLS (Netherlands), while Cerner Corp. (US), GE Healthcare (US), Cisco Systems (US), Sonitor Technologies (Norway), and STATSports Technologies (UK) are some other prominent players in the RTLS market.
UWB-based RTLS solutions are expected to register the highest growth in the Real-Time Location Systems Market during the forecast period
UWB technology-based real-time location systems solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support location a large number of objects down to the range of few centimeters. This is highly beneficial in high-intensity operations in the healthcare, manufacturing, and logistics verticals. The decline in the prices of UWB tags has also resulted in the high implementation of UWB-based RTLS solutions. The manufacturing and logistics industries are likely to be the major contributors to the growth of the market for UWB-based RTLS solutions in the coming years. UWB technology is expected to surpass the market share of all other technologies by 2025.
Education vertical is expected to register the highest growth in the RTLS market during the forecast period
The education vertical is expected to witness the highest CAGR in the real-time location system market during the forecast period owing to the rising concern about the security and safety of students and faculty at educational premises. Governments in several countries, especially in the US and European countries, may come up with regulations for tracking and visibility solutions in the education industry in the next 2 to 3 years. This would boost the demand for RTLS solutions in the education vertical where BLE- and Wi-Fi–based RTLS solutions may witness higher demand during the forecast period.
North America is expected to hold the largest market share in the Real-Time Location Systems Market during the forecast period
North America is currently leading the real-time location systems market in terms of market size, and the similar trend is expected to continue during the forecast period. North America is one of the largest contributors to the RTLS market owing to the healthcare revolution in the region. The rising adoption of RTLS solutions and increasing RTLS applications are also contributing to the largest market share of North America. North America, being technologically advanced and developed, is a leading market for cutting-edge technologies, which are used in real-time applications of tracking and monitoring assets in industries.
The real-time location system market is dominated by STANLEY Healthcare (US), Zebra Technologies (US), Aruba Networks (HP Enterprise US), IMPINJ (US), Savi Technology (US), TeleTracking Technologies (US), Ubisense Group (UK), AiRISTA Flow (US), Awarepoint (US), Identec Group (Liechtenstein), and Alien Technology (US) are a few leading players in the RTLS market.
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