The real-time location systems (RTLS) market is expected to grow at a CAGR of 24.8% from 2020 to 2025, to reach USD 10.3 billion by 2025 from USD 3.4 billion in 2020. Availability of cost-effective RTLS solutions; increasing regulations in various industries to improve safety, workflow, and security; and increasing popularity of ultra-wideband technology-based RTLS solutions are few of the key driving factors for the RTLS market growth. However, concerns regarding data security and privacy, and hindrance in RTLS supply chain due to COVID-19 are a few of the factors hindering the growth of the RTLS market.
Healthcare vertical to dominate RTLS market, in terms of size, during the forecast period
The RTLS market for healthcare vertical is expected to hold a dominant position during the forecast period. The leading position of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The need to ensure the safety of patients and security of electronic health records and valuable assets have also resulted in higher demand for RTLS solutions in healthcare.
Inventory/asset tracking & management segment segment to hold the largest share of RTLS market and witness significant growth from 2020 to 2025
In terms of market size, the inventory/asset tracking & management application segment is expected to dominate the RTLS market during the forecast period and is likely to witness significant growth in the said market from 2020 to 2025. RTLS technologies are predominantly used in asset and inventory tracking and management applications in various industries to make better utilization of available resources and reduce wastage of time during operations. Healthcare, manufacturing, automotive, and retail are major verticals that are using RTLS solutions for inventory and asset tracking and management.
APAC to witness the highest growth in the market during the forecast period
APAC is expected to witness the highest growth in the RTLS market during the forecast period. China, Japan, Australia, and South Korea are a few major countries expected to accelerate the growth of the RTLS market in APAC. Healthcare, manufacturing & automotive, and retail are the key verticals in the APAC RTLS market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the RTLS market. Following is the breakup of the profiles of primary participants for the report.
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C-Level Executives – 35%, Managers – 25%, and Others – 40%
- By Region: Americas – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The report profiles key players in the RTLS market and analyzes their market shares and rankings. Players profiled in this report are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), Savi Technology (US), TeleTracking Technologies (US), Ubisense (UK), AiRISTA (US), Sonitor Technologies (Norway), Identec Group (Liechtenstein), Alien Technology (US), Decawave (Ireland), Redpine Signals (US), Visible Assets (US), CenTrak (US), Leantegra (US), OpenRTLS (Netherlands), Litum Technologies (Turkey), Tracktio (Spain), Cerner (US), GE Healthcare (US), and Infinite Leap (US).
This report segments the RTLS market by offering, technology, application, vertical, and geography. It also describes major drivers, restraints, challenges, and opportunities about this market, as well as includes the value chain, technology, ASP, case study, and market share analysis.
Reasons To Buy This Report
The report will help leaders/new entrants in the RTLS market in the following ways:
- The report segments the RTLS market comprehensively and provides the closest market size estimation for all subsegments across regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities about the RTLS market.
- The report will help stakeholders understand their competitors better and gain insights to improve their position in the RTLS market. The competitive landscape section describes the competitor ecosystem.