Real Time Location System Market By Region – Global Opportunities and Forecast, 2021-2028

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The Real Time Location System Market was valued at USD 2,581 million in 2019 and is expected to grow at a CAGR of 24.1% over the forecast period. Factors such as the growing need for asset tracking, penetration of smartphones, increasing adoption of business analytics, and ongoing technolo

Real Time Location System Market

The Real Time Location System Market was valued at USD 2,581 million in 2019 and is expected to grow at a CAGR of 24.1% over the forecast period. Factors such as the growing need for asset tracking, penetration of smartphones, increasing adoption of business analytics, and ongoing technological innovations are driving the real time location system market size.

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Real Time Location System Market Dynamics

A real time location system helps in determining the current position of an object depending on real-time information collected through a wireless system. It helps in indoor object tracking, thus is adopted by the healthcare systems. Also, an RTLS analyses the traffic and helps identify and eradicate workplace accidents. The advent of fourth industrial revolution with innovations in the Internet of Things (IoT), artificial intelligence (AI), and robotics and the growing awareness concerning the benefits of RTLS in the supply chain management has encouraged its deployment in manufacturing automotive, healthcare, transportation logistics, and retail. These are the major factors steering the growth of the Real Time Location System Market. Further, the growing demand for asset inventory tracking, rising adoption of sophisticated business intelligence software solutions, and accelerating penetration of smartphones will further strengthen the market growth.

However, as per the real time location market research, lack of knowledge, huge set up investment, and low maintenance cost are certain factors hindering the growth of the RTLS market size during the forecasted period. In addition, the growing concerns regarding data safety may hamper the market growth.

Vertical Segment Analysis

The healthcare segment is expected to hold a larger share over the forecast period owing to the growing usage of RTLS to automatically track the real-time geographic location of equipment, pharmaceuticals, supplies, staffs, and patients throughout the treatment. Moreover, as per the Hospital Vision Study of Zebra Technologies Corp., 96% of hospitals have adopted RTLS to track patients, 98% are predicted to adopt RTLS to track medical devices, while 97% want to enlarge the use of RTLS to enhance staff operational efficiencies.​

Market Segmentation
Real Time Location System Market by Technology
  • RFID
  • Wi-Fi
  • Ultra-wideband (UWB)
  • Bluetooth Low Energy (BLE)
  • Ultrasound
  • Infrared (IR)
  • GPS
  • Others
Real Time Location System Market by Application
  • Inventory/Asset Tracking Management
  • Personnel Locating Monitoring
  • Access Control Security
  • Environmental Monitoring
  • Warehouse Management Monitoring
  • Supply Chain Management
  • Others
Real Time Location System Market by Vertical
  • Healthcare
  • Manufacturing Automotive
  • Retail
  • Transportation Logistics
  • Government Defence
  • Education
  • Oil Gas
  • Sports Entertainment
  • Others
Real Time Location System Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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