The global market for real time location systems is expected to expand at an outstanding 35.50% CAGR from 2014 to 2020. In 2013, the market was worth US$046 bn and is likely to touch a valuation of US$3.86 bn by the end of 2020.
Albany, NY -- (SBWIRE) -- 01/11/2018 -- Region-wise, North America led the market in 2013 and accounted for a share of 45.4% in the same year in the global real time location system market. The market in North America is driven by the applications of real time location systems in the healthcare industry. Owing to the current infrastructure of healthcare –IT in North America, the vendors in this market were able to deploy and gain leverage of the real time location systems solutions in the healthcare industry. Moreover, the key engaging factor here is the massive support from the governments in the region for the deployment of RTLS. Asia Pacific is also expected to surface as a potentially profitable region in the years ahead owing to growing demand from countries such as South Korea, Singapore, and Japan.
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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.
RTLS provides tracking of different assets such as personnel, tools and medical equipment which helps in reducing wastage of search time and cost incurred due to theft and misplacement. Owing to these advantages, RTLS is expected to be widely adopted, in near term, in industries such as manufacturing, healthcare, government, transportation and logistics and others. Healthcare is one of the earliest adopters of RTLS in applications such as medical equipment tracking, patient tracking and monitoring. Manufacturing and process industries too are expected to witness substantial demand during the forecast period with increasing adoption of RTLS in their processes.
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The research study titled "Real Time Location Systems (End-use Industry-Healthcare, Transportation and Logistics, Manufacturing and Process industries, Government and Defense, Hospitality and Retail, and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" provides in-depth analysis of the market and related sub-segments. The report strategically focuses on market segments based on technology types, and end-use industries and provides market insights and data about the size and growth of each segment. The report includes detailed analysis of the prevalent market trends and company profiles. To provide better understanding of the competition in market, the report also includes Porter's five force model analysis, value chain analysis, and market attractiveness analysis. The study on the global RTLS market has been conducted with an objective of providing a thorough coverage of underlying technological and economic issues driving the adoption of RTLS solutions. The report provides market data and forecast for the various RTLS technologies, and end-use industry segments with an in-depth analysis of the global market, which has been further segmented on the basis of major geographical regions, from 2012 to 2020. The segmentation has been done to provide strategic insights for each category, enabling stakeholders across the value chain to gain considerable business intelligence.
The report aims to provide a comprehensive overview of market data and trends in North America, Europe, Asia-Pacific and Rest of the World (RoW) for emerging RTLS solutions. In addition, the report identifies factors driving and restraining growth and future business opportunities in the RTLS market. The competitive landscape section in the report provides market share analysis of major players in the global market in 2013.
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Besides analyzing the global RTLS market segment-wise, the report includes profiles of major players along with their market positions, business strategies and various recent developments. Companies profiled in the report include AeroScout, Inc., TeleTracking Technologies, Inc., Ubisense Group plc, PINC Solutions Corporation, Motorola Solutions Inc., Skytron LLC, Axcess International, Inc., Versus Technology, Inc., Zebra Technologies Corporation, Sonitor Technologies AS, DecaWave Ltd. and Awarepoint Corporation.
The global RTLS market is segmented as follows:
Real Time Location Systems (RTLS) Market, by Technology
RFID
Wi-Fi
ZigBee and UWB
Ultrasound
Infrared
Others (Bluetooth, GPS, Combined Technologies)
Real Time Location Systems (RTLS) Market, by End-use Industry
Healthcare
Transportation and Logistics
Manufacturing and Process Industries
Government and Defense
Hospitality and Retail
Others (Academics, Warehousing, Yards and Docks Monitoring)
Real Time Location Systems (RTLS) Market, by Geography
North America
Europe
Asia Pacific
Rest of the World (RoW)