Real-Time Location System Market is expected to reach US$ 31.09 billion by 2030 | The Insight Partners

The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. According to Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. North America has the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. 5G penetration in Asia Pacific (except China) and Europe is expected to increase from 4% and 11% in 2022 to 41% and 87% by 2030, respectively. As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing across the world.

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Emergence of 5G to Provide Growth Opportunities for Real-Time Location Systems Market Growth During 2023-2030

Therefore, the governments of various countries are investing in 5G infrastructure. In July 2021, the government of France announced its plan to invest about US$ 2.06 billion (EUR 1.7 billion) in its 5G market by 2025 via public and private investments. Through this, the government aims to accelerate the development of 5G in the country. Similarly, in January 2021, the government of South Korea announced that they would increase the coverage of the next-generation mobile networks, particularly 5G, to 85 cities this year from the current seven major cities. It invested around US$ 115.89 million (127.9 billion won) in 2021 to encourage the use of private 5G networks. Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of 5G network is expected to create lucrative opportunities for the real-time location systems market during the forecast period.

The List of Companies - Real-Time Location Systems Market

Aruba Networks
AiRISTA Flow Inc
Qorvo Inc
Impinj Inc
Siemens AG
Zebra Technologies Corp
Sonitor Technologies AS
Stanley Black & Decker Inc
TeleTracking Technologies Inc
Ubisense Ltd

The demand for real-time locating systems (RTLS) increased in sectors such as healthcare and logistics, as these solutions improved operational efficiencies and contributed to safety during the COVID-19 pandemic. However, their demand dropped in sectors such as retail, manufacturing, and transportation, as these businesses faced significant disruptions, leading to decreased investments in the adoption of RTLS technology. In the healthcare sector, real-time locating systems played a crucial role in optimizing resource allocation, enhancing patient care, and improving operational efficiency. These factors thereby left a moderate impact on the global real-time location systems market.

Based on offering, the real-time location systems market is segmented into hardware, software, and services. By technology, the market is segmented into radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), bluetooth low energy (BLE), ultrasound, infrared (IR), global positioning systems (GPS), and others. Based on industry vertical, the market is segmented into heavy industries, manufacturing, retail, oil & gas, automotive, transportation & logistics, construction, government & defense, education, and others. By application, the market is segmented into inventory/asset tracking and management, personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, and others.

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Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the real-time location systems market. A few recent key real-time location systems market developments are listed below:

In November 2022, Impinj, a provider of RAIN RFID solutions and an Internet of Things (IoT) pioneer, introduced the Impinj M780 and M781 RAIN RFID tag chips. These chips were designed to connect and enable advanced IoT connectivity for various industries, including automotive, pharmaceuticals, and food. The large product identifiers and extended user memory of these tag chips allowed manufacturers to comply with regulations, manage product shelf life, and reduce waste. The enhanced performance of the chips improved system accuracy and reliability, while Impinj's Core3D Antenna reference-design portfolio simplified inlay and tag development. With these new offerings, Impinj continued to advance its proven RAIN RFID platform and support large-scale digital transformation.

In June 2021, Impinj unveiled the Impinj E910 RAIN RFID reader chip, offering high performance and low power consumption for next-generation enterprise IoT applications. With its smaller size and superior sensitivity, it met the demands of various industries while accelerating reader innovation and time-to-market for IoT device manufacturers.

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This release was published on openPR.