Real Time Location Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020
Albany, NY -- (SBWIRE) -- 06/01/2015 -- A new report has been published by Transparency Market Research, titled "Real Time Location Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". TMR, a market intelligence company based in the U.S., states that the global real time location systems (RTLS) market was valued at US$ 0.46 billion in 2013 and is expected to reach US$3.86 billion by 2020, growing at a CAGR of 35.5% from 2014 to 2020.RTLS aid enterprises in tracking, identifying, and managing significant assets such as tools, personnel, and equipment in real time. Badges/tags put on the item to be tracked make use of wireless technologies such as infrared, ultrasound, Wi-Fi, ZigBee, and RF signals for communication amongst readers and tags and send signals to the location sensors/readers. These sensors/readers thereby communicate with software/middleware platforms, which analyze the data and correlates helpful information to enhance staff productivity and operational efficiency in an enterprise.
Browse the full Real Time Location Systems (RTLS) report at http://www.transparencymarketresearch.com/real-time-location-system-market.html
According to this TMR report, on the basis of technology, real time location systems (RTLS) are segmented into RFID, Wi-Fi, ZigBee and UWB, ultrasound, infrared, and others (Bluetooth, GPS, and combined technologies). RFID dominated the global RTLS market with the highest revenue share in 2013. This was primarily due to the sophisticated features of RFID technology, such as great accuracy, budget-friendly nature, extended battery life of tags, and low maintenance costs when compared to WI-Fi.ZigBee and UWB are upcoming technologies with incredible market potential, primarily due to longer battery life and improved precision. One of the most important advantages of Wi-Fi in RTLS is the smoothness of deployment. Wi-Fi based RTLS systems are majorly deployed in organizations with an existing Wi-Fi network.
The report states that in 2013, North America held the biggest share in the global RLTS market and constituted for 45.4% of total revenue. Applications in the healthcare industry have primarily driven demand for RTLS solutions in the North American market. Due to the established healthcare-IT alliance in North America, companies in this market were able to readily deploy RTLS solutions in the healthcare industry. Furthermore, a major factor playing a fundamental role in driving the RTLS market in North America is government support. In 2013, the U.S. government Veteran Affairs deployed RTLS from Hewlett Packard in numerous medical centers across the U.S.
Browse the full Real Time Location Systems (RTLS) Press Release report at
Asia Pacific is predicted to be the most swiftly growing regional market for RTLS solutions. One of the major factors driving market growth in the Asia Pacific region is increase in demand from countries such as Japan, Singapore, and South Korea. Other factors such as increasing customer awareness and augmenting industrial growth will also increase the adoption of RTLS in Asia Pacific.Major players across the four geographical segments in this market are AeroScout Inc., Awarepoint Corporation, Zebra Technologies Corporation, Identec Solutions, Motorola Solutions Inc., and Sonitor Technologies, Inc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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