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Real Time Location Systems In Transportation And Logistics Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Real Time Location Systems In Transportation And Logistics
What Is the Projected Growth of the Real Time Location Systems In Transportation And Logistics Market?
The market size for real-time location systems in transportation and logistics has experienced significant growth in the past few years. It is projected to expand from $5.99 billion in 2024 to $6.8 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.6%. Factors such as heightened demand for supply chain visibility, an increasing need for efficient fleet management, legal obligations, and the surge in adoption of the Internet of Things (IoT) have all contributed to this historical growth.
The market size of real-time location systems in transportation and logistics is set to witness speedy growth in imminent years, surging to $11.19 billion by 2029 with a 13.3% Compound Annual Growth Rate (CAGR). Various factors are driving this growth in the prediction period such as the boom in e-commerce, the incorporation of Artificial Intelligence and machine learning, the adoption of self-driving vehicles, the shift to eco-friendly logistics, and the surge in global trade. The forecast period is also expected to see key trends like the escalating use of blockchain for safe tracking, 5G technology's emergence for enhancing data transfer speed, the acceptance of edge computing for real-time analysis, utilizing augmented reality for improved navigation, and the expansion of predictive analytics for anticipatory decision-making.
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What Are the Different Real Time Location Systems In Transportation And Logistics Market Segments?
The real time location systems in transportation and logistics market covered in this report is segmented -
1) By Type: Systems, Tags
2) By Deployment: On-Premises, Cloud Based
3) By Application: Asset And Inventory Tracking, Personnel Tracking, Fleet Management, Other Applications
4) By End-User: Logistics And Transportation Companies, Retailers, Manufacturing Companies, Other End Users
Subsegments:
1) By Systems: RFID-Based Systems, GPS-Based Systems, Infrared-Based Systems, Ultrasonic-Based Systems, Wi-Fi-Based Systems, Bluetooth-Based Systems
2) By Tags: Active Tags, Passive Tags, Semi-Passive Tags
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What Are the Primary Drivers Shaping the Real Time Location Systems In Transportation And Logistics Market?
The expected surge in the adoption of automation within the manufacturing sector is set to stimulate the growth of real-time location systems within the transportation and logistics market. The transition towards machine and technology utilization to carry out traditionally manual tasks within manufacturing is geared towards enhancing efficiency, productivity, and reliability in production procedures. The uptick in adopting automation within manufacturing can be attributed to the superior productivity, excellence, adaptability, and cost efficiency provided by these technological advancements within a swiftly improving and competitive market environment. Manufacturing automation paves the way for potential collaborations with real-time location systems in transportation settings, which are key to enabling efficient and swift supply chain processes that can sustain the needs of updated manufacturing procedures. For example, in September 2023, the International Federation of Robotics, a non-profit organization located in Germany, highlighted in their World Robotics Report 2023, that globally there were 553,052 factory installations of industrial robots, marking a 5% rise from 2022. Hence, the prevalence of automation within the manufacturing sector is catalyzing the expansion of real-time location systems within the transportation and logistics market.
Which Companies Are Leading in the Real Time Location Systems In Transportation And Logistics Market?
Major companies operating in the real time location systems in transportation and logistics market are Zebra Technologies Corporation, Trimble Transportation, Samsung Networks, Geotab Inc., Samsara, Omnitracs LLC, Transporeon GmbH, Descartes Systems Group, CalAmp Corporation, Spireon, ORBCOMM Inc., Teletrac Navman, Verizon Connect, Lojack Corporation, Tyco Security Products, I.D. Systems Inc., Fleet Complete, Convergence Systems Limited, FourKites Inc., ThingMagic Inc., Geoforce Inc., Ubisense, Mojix, Airista Flow Inc., DecaWave Ltd., Essensium NV, CSR Group, Awarepoint Corporation, BeSpoon SAS, TrackX Holdings Inc.
What Are the Major Trends Shaping the Real Time Location Systems In Transportation And Logistics Market?
Leading businesses active in the realm of real-time location systems in the transportation and logistics market are embracing the concept of strategic partnerships to introduce trailblazing RTLS products. This type of partnership involves companies using the combined strength and resources they possess in order to accomplish mutual gains and success. For example, in August of 2024, Navigine, an indoor navigation and positioning systems business from the US, formed a partnership with MOKO SMART, a Chinese firm specializing in the design, manufacturing, and supply of IoT devices. This partnership led to the creation and launch of a RTLS Development Kit tailored specifically for industrial settings to boost asset tracking and seamless integration with current infrastructures, ushering in new standards for operational efficiency. Merging Navigine's software prowess with the state-of-the-art hardware provided by MOKO SMART, the partnership has given rise to a comprehensive ecosystem for asset tracking. This allows users to experiment with and embrace cutting-edge technology more easily and effective.
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What Are the Top Revenue-Generating Geographies in the Real Time Location Systems In Transportation And Logistics Market?
North America was the largest region in the real time location systems in transportation and logistics market in 2024. The regions covered in the real time location systems in transportation and logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Real Time Location Systems In Transportation And Logistics Market?
2. What is the CAGR expected in the Real Time Location Systems In Transportation And Logistics Market?
3. What Are the Key Innovations Transforming the Real Time Location Systems In Transportation And Logistics Industry?
4. Which Region Is Leading the Real Time Location Systems In Transportation And Logistics Market?
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