Asia Pacific Real-Time Location Systems Market to Hit US$ 5,776.80 million by 2028 With CAGR 27.3% During 2021-2028

Asia Pacific Real-Time Location Systems Market is expected to grow from US$ 1,065.34 Million in 2021 to US$ 5,776.80 million by the year 2028. This represents a CAGR of 27.3% from the year 2021 to 2028.

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The real-time location system market in APAC is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. Vast industrialization, low labor costs, positive economic developments, favorable economic policies, and increasing foreign institutional investments (FIIs) and foreign direct investments (FDIs) make APAC a significant contributor to the growth of various industries. Further, the governments of developing countries have been establishing initiatives, such as Made in China 2025 and Make in India, to promote the establishment of manufacturing plants, make the respective countries self-sufficient, and make them capable of exporting surplus goods. Need for social distancing and contact tracing due COVID-19 pandemic is the major factor driving the growth of the APAC real-time location systems market.

The APAC is characterized by the presence of several developing countries, positive economic outlook, and huge industrial sector, in addition to the largest share of global population. These factors make Asia Pacific a major region for the growth of the real-time location system market. The shutdown of various factories and distribution centers in many economies in the APAC has affected the supply chains and negatively impacting the manufacturing processes, delivery schedules, and product and service sales. The APAC is global manufacturing hub with countries such as China, Japan, and South Korea leading the global manufacturing sector. Disruptions in supply chains and manufacturing activities have led to the discontinuation of the production of hardware of real-time location system, which hindered the market growth. Meanwhile, with the initiation of vaccination drive coupled with reopening of economies the real-time location system market witness positive growth from the Q1 of 2021.

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Some of the companies competing in the Asia Pacific Real-Time Location Systems Market are: AiRISTA Flow Inc, Aruba Networks, Decawave Limited, Impinj, Inc, Siemens AG, Sonitor Technologies AS, Stanley Black & Decker, Ubisense

Market Overview and Dynamics:
A real-time location system helps monitor and locate the objects and interactions as they happen. The system utilizes various technologies, such as Wi-Fi, Bluetooth, infrared, and RFID, to establish communication. However, end users from numerous industries, such as logistics, manufacturing, healthcare, automotive, and entertainment, are increasingly shifting toward the use of ultra-wideband (UWB) based real-time location systems. The ultra-wideband (UWB) Hardware offers accurate positioning details of assets/personnel/objects, which is one of the major factors driving the adoption of ultra-wideband (UWB) based real-time location systems. Also, the ultra-wideband (UWB) provides a higher range and accuracy along with lower power consumption than other real-time location system technologies, such as RFID, Bluetooth, Wi-Fi, infrared, which has led to an increase in penetration in high accuracy applications. The cost of the Hardware was restraining the adoption of the ultra-wideband (UWB) based real-time location system. However, lately, the cost has gradually declined over the last few years, which is driving the growth of the real-time location system.

Key Market Segments:
The APAC real-time location systems market is segmented on the bases of offering, technology, industry vertical, application, and country. Based on offering, the APAC real-time location systems market is segmented into hardware, software, and services. The hardware segment dominated the market in 2020, and services segment is expected to be the fastest growing during the forecast period. Further, the hardware segment is categorized into tags/badges, readers/trackers/access points, and others. By technology, the market is segmented into radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), Bluetooth Low Energy (BLE), ultrasound, Infrared (IR), GPS, and others.

The Bluetooth Low Energy (BLE) segment dominated the market in 2020, and ultra-wideband (UWB) segment is expected to be the fastest growing during the forecast period. Based on industry vertical, the market is segmented into heavy industries, manufacturing, retail, oil & gas, automotive, transportation and logistics, construction, government and defense, education, and others. The retail segment dominated the market in 2020, and education segment is expected to be the fastest growing during the forecast period. By application, the market is segmented into personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, and others. The personnel/staff locating and monitoring segment dominated the market in 2020, and is expected to be the fastest growing during the forecast period.

APAC Real-Time Location Systems Market - By By Technology:
1. Radio Frequency Identification (RFID)
2. Ultra-wideband (UWB)
3. Bluetooth Low Energy (BLE)
4. Ultrasound
5. Infrared (IR)
6. GPS

APAC Real-Time Location Systems Market - By Industry Vertical:
1. Heavy Industries
2. Manufacturing
3. Retail
4. Oil and Gas
5. Automotive
6. Construction
7. Government and Défense
8. Education

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Reasons for buy this Report
• To understand the APAC Real-Time Location Systems market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC Real-Time Location Systems market
• Efficiently plan M&A and partnership deals APAC Real-Time Location Systems market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC Real-Time Location Systems market
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

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