Real-Time Location Systems Market is Forecasted to Reach US$ 14.62 Billion in 2028, Says Stratview Research

The global real-time location systems market is projected to witness a growth rate of 26.6% annually from 2023 to 2028, with an anticipated size of US$ 14.62 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global real-time location systems market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 14.62 billion
Growth (CAGR): 26.6% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Real-Time Location Systems Market:

The global real-time location systems market is segmented based on offering type, technology type, application type, vertical type, and region.

Based on offering type - The market is segmented into hardware, software, and services. The hardware segment held the largest share of the market and is expected to remain dominant during the forecast period. The significant share of the hardware segment is due to the high cost of equipment. On the other hand, the services segment is projected to expand with the highest CAGR over the forecast period owing to the growing demand for support and maintenance services.

Based on technology type - The real-time location systems market is segmented into RFID, Wi-Fi, UWB, BLE, infrared, ultrasound, GPS, and others. The RFID segment accounted for the largest share and is expected to lead the market during the forecast period. The growth of the segment is owing to lower prices of radio-frequency identification (RFID) tags coupled with high demand from various verticals.

Based on application type - The market is segmented into inventory/asset-tracking & management, personnel/staff-locating & monitoring, access control/security, and environmental monitoring, yard, dock, fleet, & warehouse management & monitoring, supply chain management & operational automation/visibility, and others. The Inventory/Asset-Tracking & Management segment held the largest share of the market and is expected to remain dominant over the forecast period. The dominance of the Inventory/Asset-Tracking & Management segment is due to efficient warehouse management offered by technology.

Based on vertical type - The real-time location systems market is segmented as healthcare, manufacturing & automotive, transportation & logistics, retail, government & defense, education, oil & gas, mining, sports & entertainment, and others. The healthcare segment accounted for a significant share owing to its utility in medical device tracking and growing IoT applications.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/1759/real-time-location-systems-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is estimated to grow with the highest CAGR over the forecast period. This growth outlook is majorly attributed to the following-

• Owing to the rising demand from Japan, South Korea, China, and Australia the market in the Asia-Pacific region accounts for the highest growth.
• North America and Europe are also expected to offer significant growth opportunities over the forecast period.

Real-Time Location Systems Market Drivers:

Some of the key drivers listed in the report are given below.
• This technology allows for the real-time tracking of assets, people, and inventory, which significantly improves operational processes and visibility.
• Operational efficiency, technological advancements, safety requirements, and regulatory compliance are among the primary drivers.
• The integration of IoT and wireless communication plays a pivotal role in enabling seamless data integration and analysis within these systems.
• The real-time location system offers ample opportunities for the development of advanced tracking and monitoring solutions.

Top Companies in the Real-Time Location Systems Market:

Stratview Research has identified the following companies as the top market players.
• AiRISTA
• Alien Technology Chemical Co., Ltd.
• Aruba Networks
• Identech Group AG
• Impinj
• Savi Technology
• Sonitor Technologies
• Stanley Healthcare
• TeleTracking Technologies
• Ubisense Group
• Zebra Technologies

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Real-Time Location Systems Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• Supply Chain Management Software Market: https://www.stratviewresearch.com/2759/supply-chain-management-software-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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