(RTLS) Real-time Location Systems Market Share to be Worth Over USD 26.97 Billion By 2030, at 26.1% CAGR Growth

According to the research report, the global real-time location systems market was valued at USD 3.81 billion in 2021 and is expected to reach USD 26.97 Billion By 2030, growing at a CAGR of 26.1% during the forecast period.

The world's aging population is a major driving force behind real-time location systems in old-aged care facilities. As per the WHO, the proportion of the population aged 60 and up will rise from 1 billion in 2020 to 1.4 billion. By 2050, the number of individuals aged 60 and up will have doubled (2.1 billion). The aged 80 and up is expected to triple between 2020 and 2050, reaching 426 Billion.

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Market players such as AiRISTA Flow, AeroScout, Inc., Alien Technology, Awarepoint Corporation (Centrak Inc.), CenTrak Healthcare company, BlueIOT, Decawave, Ekahau, Inc., GE Healthcare, Identec Group AG, Impinj, Aruba Networks, Litum Technologies, OpenRTLS, Redpine Signals, Savi Technology, TeleTracking Technologies, Inc., Sonitor, Ubisense Group PLC, and Zebra Technologies are some key players operating in the global industry.

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Improving aging and other's patient safety and work conformance in hospitals is another primary driver in the industry. RTLS technology is crucial in keeping patients and providers safe. Wheelchairs and beds are just two instances of hospital equipment that may move around a facility on any given day. RTLS technology assists hospital workers in knowing where the equipment they require is at all times.

Based on the vertical, the healthcare segment accounted for the leading share in the industry in 2021. The early adoption of RTLS-based alternatives for various applications in healthcare, particularly in the U.S., can be related to the growth of the healthcare vertical. The increasing use of IoT devices in the healthcare sector is also anticipated to support the development of the RTLS industry in this vertical.

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Polaris market research has segmented the real-time location systems market report based on offering, technology, application, vertical, and region:

Real-time Location Systems, Offering Outlook (Revenue - USD Billion, 2018 - 2030)

Hardware
Software
Services

Real-time Location Systems, Technology Outlook (Revenue - USD Billion, 2018 - 2030)

RFID
Wi-Fi
UWB
Bluetooth Low Energy (BLE)
Infrared (IR)
Ultrasound
GPS
Others

Real-time Location Systems, Application Outlook (Revenue - USD Billion, 2018 - 2030)

Inventory/asset tracking & management
Personnel/staff locating & monitoring
Access control/security
Environmental monitoring
Yard, dock, fleet & warehouse management & monitoring
Supply chain management & operational automation/visibility
Others

Real-time Location Systems, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)

Healthcare
Manufacturing and automotive
Retail
Transportation and logistics
Government and defense
Education
Oil & gas, mining
Sports & Entertainment
Others

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