Real-time Location System (RTLS) Market Scope
The global real-time locating systems market is expected to gain prominence over the forecast period owing to the optimum utilization of resources and decreased prices of RTLS solutions. Real-time locating systems (RTLS) offer easy identification and tracking of assets which include tools, containers, medical equipment, and trailers. Additionally, RTLS is finding increasing applications in warehouses, correctional facilities, and retail stores, among others, where it aids in the immediate location of the target and tracking of any misplaced items among others. This, in turn, has been further fuelling the growth of the market.
The market study is being classified, by Application (Inventory/Asset-Tracking & Management, Personnel/staff-Locating & Monitoring (includes Patient Tracking), Access Control/Security, Environmental Monitoring, Yard, Dock, Fleet, & Warehouse-Management & Monitoring and Supply Chain Management & Operational Automation/Visibility) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Real-time Location System (RTLS) market throughout the predicted period.
STANLEY Healthcare (United States), Zebra Technologies (United States), Aruba Networks (United States), IMPINJ (United States), Savi Technology (United States), TeleTracking Technologies (United States), Ubisense Group (United Kingdom), AiRISTA Flow (United States), Awarepoint (United States), Identec Group (Liechtenstein), Alien Technology (United States), GE Healthcare (United States), Cisco Systems (United States) and Cerner Corp. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are DecaWave (Ireland), Redpine Signals (United States), Visible Assets (United States), Litum Technologies (Turkey), Mojix (United States), Tracktio (Spain), CenTrak (United States), OpenRTLS (Netherlands), Sonitor Technologies (Norway) and STATSports Technologies (United Kingdom).
AdvanceMarketAnalytics has segmented the market of Global Real-time Location System (RTLS) market by Type, Application and Region.
On the basis of geography, the market of Real-time Location System (RTLS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In February 2018, STANLEY Healthcare launched a cloud-based IoT solution for real-time monitoring applications, especially in the healthcare sector. It supports multiple sensors and has the scalability to cover from a few devices in one location to thousands of devices across multiple sites
- Increased government support for the promotion of RTLS solutions is expected to favorably impact the RTLS market
- The rise in need for asset tracking, the proliferation of smartphones, the surge in adoption of business analytics solutions
- the rise in awareness about the benefits of the real-time location system
- technological advancements and blending of technologies by key vendors to offer effective RTLS applications
- Emerging opportunities in government and defense sectors
- The Growing Concern of Operational Challenges
- Concerns Regarding Data Security and Privacy
- The Issue related to High Initial Costs
Key Target AudienceGovernment Regulatory Bodies, Government Research Organisation, Private Research Organizations and Others
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