Real-time Location Systems Market earned USD 3.7 billion in 2021 and expected to reach USD 20.8 billion in 2029, growing at a CAGR of 24.1% | Size & Industry Analysis

The Real Time Location System Market is Projected to reach USD 20.8 billion in 2029 and is expected to grow at a CAGR of 24.1% over the forecast period (2022-2029).

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The factors driving growth of the Real Time Location System Market includes rising penetration of smartphones and tablets, expansion of the Telecommunication industry, growing focus of companies on enhancing supply chain operations, increase in the number of smart cities around the world and improvements in the living standards. According to the report published by Statista, the mobile phone internet user penetration rates across India was estimated around 53.92% in 2020 and is expected to reach 92.52% by the end of 2033, which will accelerate the Real-time Location Systems Market size in India in the approaching years. Moreover, growing adoption of Artificial Intelligence (AI), the Internet of Things (IoT), and Robotics, increasing application of real time location systems for locating pallets of merchandise in a warehouse, identifying customers in a restaurant and tracking automobile through assemble lines, are some of the additional factors supplementing the Real-Time Location System (RTLS) Market Growth. In addition, the increasing investments by major corporations on research and development, rise in the launch of new products and growing disposable incomes, are further contributing towards the market growth.

However, growth of the Real Time Location System Market is hindered due to rising concerns related to data security and privacy.

The leading players operating in the market are TeleTracking Technologies, Inc., Aeroscout Industrial, Ubisense, Sonitor Technologies, Airista Flow, Impinj Inc., Inpixon, Stanley Black & Decker, Inc., Savi Technology, and Zebra Technologies Corp., among others.

Based on Technology, the RFID segment is predicted to grow at a robust CAGR during the forecast period

As per the Real-Time Location Systems Market Forecast, RFID technology helps in detecting signals, penetrates non-metal solids, and are deployed in crowded environment, are some of the features pushing growth of the segment.

Based on Application, the Inventory/Asset Tracking & Management segment is projected to grow at a significant CAGR over the forecast period

Real time location systems minimize wastage of inventory during operations and prevents theft and equipment losses along with its increasing application in manufacturing, healthcare, and retail sectors, are propelling segment's growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Growing demand for real time location systems across, manufacturing, and defense industries, presence of the leading players such as Awarepoint Corporation, AeroScout Industrial, and Zebra Technologies Corporation and rapid urbanization, are some of the important factors augmenting the market growth in the North American region.

Key Development

In 2020, Inpixon, developed nanoLES 3.3, an advanced location engine server, which enables ultra-wideband (UWB) and chirp spread spectrum (CSS) RTLS solutions for real-time positioning of people and devices.

Market Segmentation

Segmentation by Technology

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

Segmentation by Application

Inventory/Asset Tracking & Management
Personnel Locating & Monitoring
Access Control & Security
Environmental Monitoring
Warehouse Management & Monitoring
Supply Chain Management
Others

Segmentation by Vertical

Healthcare
Manufacturing & Automotive
Retail
Transportation & Logistics
Government & Defence
Education
Oil & Gas
Sports & Entertainment
Others

Segmentation 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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