Boston, MA -- (SBWIRE) -- 02/19/2014 -- Real-Time Location Systems facilitate real-time tracking of assets and personnel in indoor as well as outdoor environments, with the use of active RFID tags which employ wireless technologies such as RF signals, Wi-Fi, UWB, ultrasound, Infrared, and Zigbee for communication with location readers/sensors. With RTLS, enterprises now have this opportunity to track and manage their resources for enhanced operational efficiency, staff productivity, and workflow optimization. Moreover, with new and advanced technologies paving their path in the Real-Time Location Systems market, more and more customers/enterprises are adopting RTLS solutions to track their assets and personnel in a more efficient way.
In terms of revenue generation, the healthcare market for Real-Time Location Systems contributes maximum market share and is estimated to be the major revenue pocket for the global RTLS market. However, the future potential market for real-time location-based solutions includes industrial manufacturing such as automotive manufacturing, aerospace manufacturing & others, and process industries such as mining and oil & gas. These two industry verticals are estimated to be the emerging markets with a promising future and tremendous growth rate over the forecasted period from 2013 to 2020. In technology, Wi-Fi based RTLS solutions have a major advantage over other proprietary technologies such as UWB, Zigbee, and others; that is, this type of RTLS solution utilizes the existing Wi-Fi infrastructure of an enterprise, which results in cost and time savings. Active RFID and Wi-Fi based RTLS solutions are the major market shareholders in the global RTLS market and both these technologies hold a very promising future in the coming years as well. However, emerging technologies such as UWB and Zigbee are projected to be the fastest-growing technologies with tremendous growth potential, mainly due to the high accuracy and precision offered by these technologies over Wi-Fi and other traditional technologies.
Americas is the largest market in terms of the market revenue as well as the RTLS deployments followed by Europe. The major drivers for the RTLS growth in this region include the technological advancements and emerging technologies such as UWB and Zigbee. However, the RTLS market in developing regions such as APAC and ROW is still in its nascent growth stages and it is estimated to grow at a tremendous growth rate, mainly due to huge untapped market opportunities for RTLS solutions especially in manufacturing and industrial applications and rising customer awareness.
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