Real Time Locating Systems Market is Expected to Reach US$ 31.56 Bn by the End of 2031-Zebra, Sonitor Technologies, Skytron, Versus Technology

The RTLS market is estimated to be valued at USD 3.13 billion in 2021 and reach USD 31.56 billion by 2032, at a CAGR of 26.5%.Real-time location systems (RTLS) are local positioning and tracking systems used to locate and identify objects/people/targets automatically in real time, usually for indoor applications such as within buildings or other contained areas. RTLS tags/badges/sensors attached to objects or worn by people communicate wirelessly with fixed receivers/readers/trackers/exciters/reference points/access points installed in the vicinity. RTLS is not a specific type of system or technology but rather a goal that can be accomplished with a variety of systems for locating and managing assets/people. An RTLS may use different technologies for communication between tags and receivers, depending on the application/use case requirement. Various technologies, such as radio-frequency identification (RFID), wireless fidelity (Wi-Fi), ultrasound, infrared or infrared radiation (IR), ultra-wideband (UWB), and Bluetooth Low Energy (BLE), are used for precise locating or tracking applications in real time.

Leading players of Real Time Locating Systems including:

Zebra, Sonitor Technologies, Skytron, Versus Technology

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Hardware segmentis expected to dominate in the RTLS market during the forecast period
The hardware segment accounted for ~40% share of the total RTLS market in 2020. Hardware such as tags, badges, and readers are critical components in an RTLS and make up for a major part of the cost of the solution, owing to which the segment captured the largest share of the market in 2019. The software segment accounted for ~31% of the total RTLS market in 2020 and is expected to witness the highest growth during the forecast period. Organizations or companies using RTLS are expected to spend a significant amount on support and maintenance services regularly; hence, the RTLS market for services is expected to grow at the highest CAGR during the forecast period.

UWB-based technology isexpected to witnessthe highest CAGRin the RTLS displaymarket during the forecastperiod
The market for UWB-based RTLS solutions is expected to grow at the highest CAGR of 33% during the forecast period. UWB technology based RTLS solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support locating objects down to the range of a few centimeters. This is highly beneficial in high-intensity operations in the healthcare and manufacturing verticals. The rapid decline in the prices of UWB tags has also resulted in the increased implementation of these tags in RTLS solutions. The manufacturing and logistics industries are likely to be the major contributors to the market's growth for UWB-based RTLS solutions in the coming years.

he different technologies include RFID, Wi-Fi, ultra-wideband (UWB), bluetooth low energy (BLE), ultrasound, infrared (IR), GPS and others and is used in inventory or asset tracking and management, personnel or staff locating and monitoring, access control and security, environmental monitoring, supply chain management, and operational automation or visibility and others. It is implemented in various verticals such as transportation and logistics, healthcare, retail, manufacturing and processing, and others.

Real Time Locating Systems Segmentation by Type:

ZigBee, Wi-Fi, Ultra Wide Band.

Real Time Locating Systems Segmentation by Application:

Commercial, Industrial, Financial, Military, Other

Smartphones are used for incident response and emergency management because of real-time location system (RTLS) innovation, which is used to automatically spot and track the destination of objects or people in real-time. For instance, according to the Mobile User Statistics report, in 2021, there was 3.8 billion smartphone users worldwide, accounting for 48.33% of the global population. Therefore, the increasing demand for smartphones drives the growth of the real-time location system (RTLS) market.

The growing technological advancements are shaping the real-time location system (RTLS) market.Major firms operating in the real-time location system (RTLS) sector are focused on developing technological solutions for real-time locating and monitoring of assets and employees.

For instance, in July 2020, Advantech, a China-based provider of industrial computing platform solutions launched a real-time location system (RTLS) solution-ready package (SRP) based on multi-mode sensing dynamic fusion (MSDF) technology. The MSDF technology, which uses a software algorithm to decrease interference from barriers, improves positioning effectiveness in challenging indoor environments, making it perfect for hospitals, nursing homes, and clinics.

In February 2020, Qorvo, a US-based company that designs, develops, manufactures and markets a variety of high-performance analog and mixed-signal integrated circuits acquired Decawave for an undisclosed amount.With this acquisition, the Decawave team has become the Ultra-Wideband Business Unit (UWBU) within Qorvo Mobile Products.

Decawave is a Europe-based company that provides real-time location tracking services.

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Highlights of the Report:

The report provides Real Time Locating Systems industry demand trends in Q1 and Q2 2021.
• Individual circumstances of the Real Time Locating Systems segments are discussed in the report.
• The report contains forward-looking information on risks and uncertainties.
• The report studies the consumer-focused sectors of the Real Time Locating Systems.
• The trade scenarios of the products and services in particular segments are detailed in the report along with regulation, taxes, and tariffs.
• The trends that are impacting the Real Time Locating Systems for past few years are discussed in the report.
• The report studies the potential impact of the Covid-19 pandemic on the Real Time Locating Systems industry economy and performance of the market players in the same context.
Table of Content:

1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
3 Global Real Time Locating Systems by Players
4 Real Time Locating Systems by Regions
4.1 Real Time Locating Systems Size by Regions
4.2 Americas Real Time Locating Systems Size Growth
4.3 APAC Real Time Locating Systems Size Growth
4.4 Europe Real Time Locating Systems Size Growth
4.5 Middle East & Africa Real Time Locating Systems Size Growth
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Global Real Time Locating Systems Forecast
11 Key Players Analysis
12 Research Findings and Conclusion

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