Real-Time Location Systems Market Size, Geographical Segmentation, Business Challenges, and Investment Opportunities Analysis till 2028

According to our latest study on "Real-Time Location Systems Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Offering, Technology, Industry Vertical, and Application," the market is estimated to grow from US$ US$ 4.91 billion in 2022 to US$ 31.09 billion by 2030; it is anticipated to register a CAGR of 26.4% from 2023 to 2030.

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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The Key Players in The Global Market Are:

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
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.

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The report segments the global Market as follows:

By Offering (Hardware, Software, and Services);
By Technology [Radio Frequency Identification (RFID), Ultra-wideband Wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Wi-Fi, and ZigBee];
By Industry Vertical (Heavy Industries, Manufacturing, Retail, Oil & Gas, Automotive, Construction, Government and Defense, Logistics, and Others);
By Application (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 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

The real-time location systems market size is segmented into four key regions-North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific held the largest revenue share in 2022, followed by North America and Europe. Asia Pacific is projected to be the fastest-growing market and register the highest CAGR from 2023 to 2030.

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