Real Time Location Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

Albany, NY -- (SBWire) -- 08/07/2018 --Real-Time Location Systems (RTLS) are used to identify and track different assets and objects such as tools, medical equipment, containers, trailers, people and animals in real time. RTLS provides organizations with precise information on different objects via continuous communication between the location engine and the object to be tracked.

The global real time location systems (RTLS) market is driven by enhanced advantages of real time tracking in different manufacturing and business processes. RTLS, with its accurate tracking capabilities, helps organizations in increasing their productivity.

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the global real-time location systems Market will expand at a double-digit CAGR in the years to come and be worth US$3.86 bn by 2020. On the basis of application, it is expected that the demand for real-time location systems will be highest from the healthcare sector. On the basis of geography, North America is leading in the market on account of the high use of real-time location systems by the healthcare sector in North America.

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As per the lead author of this report, "one of the key factors driving the growth of the global real-time location systems (RTLS) Market is the various high-end features offered by the systems including high-efficiency, Asset Management Improvement, Savings of cost, and enhance workflow." A large number of organizations and enterprises are making use of real-time location systems for identifying, tracking, and managing their assets such as tools, equipment, and Personnel in real-time by applying a tag or badge on them. This in turn will drive the growth of the market.

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With an increasing number of organizations realizing the benefits of using real-time location systems such as optimum resource utilization and asset management, the adoption of these systems will rise thereby driving the growth of the market.