Location & identity tracking involves several technologies and methods such as asset tracking, work in progress tracking, vehicle or fleet tracking, condition tracking, patient’s activity tracking and others. These services offer several advantages such as increased efficiency, cost saving and enhanced quality through workflow automation and process optimization. Various technologies and methods employed for location & identity tracking include real-time location system (RTLS), electronic toll collection, smart packaging, smart labels and others.
Smart packaging has become an important part location & identity tracking industry. Smart packaging includes both active and intelligent packaging, which combines technologies such as printed electronics and cloud & Internet of Things (IoT) for accessing information; receive & store data; check product authenticity or condition; and sending messages to shippers, brand owners and customers.
RTLS uses radio frequency signals or other technologies to locate and track assets or people in real time. RTLS is used across several industries such as healthcare, defence, mining, manufacturing, logistics & transportation, aerospace, retail, chemicals and others. On the basis of technologies, RTLS is segmented into radio frequency identification (RFID), ultra wideband (UWB), W-Fi, global positioning system (GPS), ultrasound, ZigBee, infrared and others. RFID and Wi-Fi segments hold the largest market share in global RTLS market. UWB and ZigBee are the fastest growing technologies due to their high precision and accuracy capabilities.
RFID along with smart tags are more advanced and better replacement for conventional bar code tags and readers. Apart from providing a unique identity to an object, it can also be used to track and manage inventory, people, assets, etc. The retail industry is the major application market of RFID industry. However, transport and logistics are increasingly adopting RFID in their operational flow due to strong economic growth in developing countries. The major challenges for RFID industry are high manufacturing and installation cost and lack of standardization.ASDReport.com has a good collection of reports on location & identity tracking industry. The reports cover various technologies and products related to the market like smart packaging, smart label, supply chain evolution, inventory tags and much more.