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Unlocking Opportunities in the Real-Time Location Systems (RTLS) Market: 2025-2034 Forecast Report
Real-Time Location Systems (RTLS)
What Will the Real-Time Location Systems (RTLS) Industry Market Size Be by 2025?
In recent times, there has been a significant growth in the size of the real-time location systems (RTLS) market. This market, which was valued at $11.67 billion in 2024, is projected to rise to $14.93 billion in 2025, with a compound annual growth rate (CAGR) of 27.9%. The remarkable growth witnessed during this historical period is due to increased demand in sectors such as manufacturing, supply chain and logistics efficiency, retail inventory control, employee safety and productivity, with a heightened focus on patient care in the healthcare sector.
What's the Long-Term Growth Forecast for the Real-Time Location Systems (RTLS) Market Size Through 2029?
In the coming few years, the market for real-time location systems (RTLS) is predicted to experience a significant surge in growth. The market size is projected to reach $42.36 billion by 2029, with a compound annual growth rate (CAGR) of 29.8%. This market expansion during the forecast period is due to several factors such as the proliferation in retail for improved customer experiences, the increased demand for social distancing tools, sustainability focus, utilization in the sports and entertainment sector, and government-led initiatives towards public safety. The forecast period is also likely to witness several trends including indoor navigation systems, growth in the logistics and supply chain sector, the adoption of ultra-wideband (UWB) technology, cloud-based RTLS solutions, along with privacy issues and ethical considerations, and integration of data analytics and Artificial Intelligence.
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What Are the Key Growth Drivers Fueling the Real-Time Location Systems (RTLS) Market Expansion?
The surge in smartphone usage is projected to drive the expansion of the real-time location system (RTLS) market in the future. Smartphones are mobile electronic devices that offer connectivity to cellular networks, providing functionalities like making phone calls, sending texts, and internet access. The escalating global population has caused a rise in smartphone demand. Real-time location system (RTLS) innovation, which tracks and identifies the location of individuals or items in real-time, makes smartphones essential for incident response and emergency management. For example, a study by Cybercrew, a UK-based company specializing in cybersecurity solutions for businesses, predicted in March 2023 that 93.8% of UK households would have smartphones by 2026. Thus, the escalating demand for smartphones is facilitating the growth of the real-time location system (RTLS) market.
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What Are the Key Trends Driving Real-Time Location Systems (RTLS) Market Growth?
Major companies involved in the real-time location system (RTLS) industry are concentrating their efforts on creating technology solutions for real-time asset and personnel tracking and surveillance. For example, in October 2024, WISER Systems, Inc., a firm based in the United States with expertise in manufacturing and supply, unveiled a new iteration of Real-Time Location Systems. RTLS platforms enable precise real time wireless tracking of thousands of tagged items, even in areas cluttered with metal. These systems, which are simple to set up, can oversee assets both indoors and outdoors. They provide a vivid and precise visualization of facilities without any delay.
How Is the Real-Time Location Systems (RTLS) Market Segmented?
The real-time location systems (RTLS) market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Technology: RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Other Technologies
3) By Application: Inventory Or Asset Tracking And Management, Personnel Or Staff Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Operational Automation Or Visibility, Other Applications
4) By End Use Industry: Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing, Other End User Industries
Subsegments:
1) By Hardware: Tags, Readers, Antennas, Middleware, Access Points
2) By Software: RTLS Software Platforms, Analytics Software, Integration Software
3) By Service: Consulting Services, Installation And Deployment Services, Maintenance And Support Services
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Which Companies Are Leading the Charge in Real-Time Location Systems (RTLS) Market Innovation?
Major companies operating in the real-time location systems (RTLS) market include Zebra Technologies Corp., Stanley Healthcare, CenTrak Inc., Ubisense Group PLC, TeleTracking Technologies Inc., Sonitor Technologies AS, AeroScout Industrial, DecaWave Limited, Midmark Rtls Solutions Inc., AiRISTA Flow Inc., Savi Technology, Lockheed Martin Corporation, GE HealthCare Technologies Inc., Impinj Inc., Identec Group AG, Ekahau, Securitas AB, Aruba Networks, Alien Technology LLC, Mirion Technologies, Axcess International Inc., Awarepoint Corporation, Cerner Corporation, Elpas Solutions, Infor Inc., Intelligent InSites Inc., Mojix Inc., Navis, PLUS Location Systems, Redpine Signals Inc., RF Technologies Inc.
Which Regions Are Leading the Global Real-Time Location Systems (RTLS) Market in Revenue?
North America was the largest region in the real-time location systems (RTLS) in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (RTLS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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