Real-Time Location System Market Focused towards Growth 2024

The global real-time location system (RTLS) market is progressing more dynamically, as compared to its conventional counterparts, such as radio-frequency identification (RFID). This is due to the widespread acceptance of technologies, such as global positioning system (GPS) and Wi-Fi. The growing demand of real-time location system, in security and surveillance, and inventory management sectors, is driving the expansion of the RLTS market. The improving accuracy, increasing government expenditure on defense and homeland security, and affordable pricing of the real-time location system equipment, has also increased the market penetration, in past few years.

Based on products, the global real-time location system market can be broadly classified, into hardware, software, and services. On the basis of technology, the real-time location system market can be segmented, as Radio-frequency identification (RFID), WI-FI, infrared, ultra wide band (UWB), ZigBee, ultrasound, and others. Based on the application, the RTLS market can be segmented, as healthcare, industrial, manufacturing, transportation and logistics, government and defense, process industries, hospitality, retail, education and others.

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North America accounted the largest market share of real-time location system in 2014, followed by Europe. Asia Pacific is expected to be the fastest growing real-time location system (RLTS) market, during 2015-2020. The demand for real-time location services from Japan, China, Australia, and India, is driving the growth of the real-time location system market in Asia Pacific. The growth in industrial manufacturing, processing industries, retail, and transportation and logistics, in Asia Pacific are some of the major driver for the expansion of the RTLS market in the region.

The RTLS market in Asia Pacific is also expected to benefit from the expansion of product and service offerings, of the few major global players in the region.  U.S. has been the leader of the North American RTLS market.  On the other hand, Germany, France, Italy, Spain, and U.K., are the major geo-divisions of the RTLS market in Europe. China, India, and Japan, are the key geo-divisions of the Asia-Pacific RTLS market.

Some of the competitors in the real-time location system (RTLS) market are Centrak Inc., Ekahau Inc., Versus Technology Inc., Identec Group AG, Awarepoint Corporation, Savi Technology Inc., Teletracking Technologies Inc., Zebra Technologies Corporation, Ubisense Group PLC., and Aeroscout Inc.

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