Press release
Real-Time Location System Market Size to Grow at a CAGR of 27.19% by 2030
Real-time locating systems (RTLS), also known as real-time tracking systems, are used to automatically identify and track the location of objects or people in real time, usually within a building or other contained area. Wireless RTLS tags are attached to objects or worn by people, and in most RTLS, fixed reference points receive wireless signals from tags to determine their location. The Real-Time Location System Industry is expected to grow with a CAGR of 27.19% with a revenue of USD 61.72 Billion during the forecast period.
The market for real-time location systems is experiencing significant growth, with applications across various industries such as healthcare, manufacturing, retail, transportation and logistics, government and defense, and oil and gas. The technology leverages radio-frequency (RF) technologies like ultra-wideband (UWB), Bluetooth Low Energy (BLE), and Chirp, as well as wireless devices such as tracking tags and smartphones, to continuously determine the position of people and objects in indoor facilities.
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Real-Time Location System (RTLS) Market Key Players:
IBM corporation
Zebra Technologies Corporation
STANLEY corporation
General Electric Company
Siemens AG
Airista Flow Inc.
Sonitor Technologies Inc.
RF Technologies Inc
PINC Solutions
IDENTEC Solutions
Radiance
CenTrak
PLUS Location Systems USA
TeleTracking Technologies Inc
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Market Segmentations:
Segmentation by Offering:
The market is segmented into hardware, software, and services, offering a comprehensive range of solutions for real-time location tracking and monitoring.
Segmentation by Technology:
Technologies such as RFID, UWB, BLE, ultrasound, infrared, GPS, Wi-Fi, and ZigBee are utilized in the real-time location systems market, providing diverse options for location tracking and monitoring .
Segmentation by Industry Vertical:
The market is segmented into various industry verticals, including retail, government & defense, manufacturing, healthcare, logistics, heavy industries, construction, oil & gas, automotive, and others, reflecting the wide-ranging applications of RTLS across different sectors.
Segmentation by Application:
Applications of real-time location systems include personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, and supply chain, showcasing the versatility of RTLS solutions
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