Global Real Time Location System (RTLS) Market Overview:
Real-Time Location System (RTLS), called a real-time track system, are utilized to consequently distinguish and track the area of individuals progressively, ordinarily inside a building or other contained region. Remote RTLS tags are joined to objects or worn by individuals, and in many RTLS, fixed reference focuses get wireless signals’ from tags to decide their location. This system is one of the various innovations that identifies the current geo-location of an object, which might be anything from a vehicle to a thing in an assembling plant to an individual. RTLS-able items are utilized in a steadily expanding number of areas including inventory network the board (SCM), medical care, the military, retail, amusement, and postal and messenger administrations.
- High adoption of RTLS solutions in the healthcare, manufacturing & automotive, retail, and transportation & logistics verticals
- The increasing popularity of ultra-wideband technology-based RTLS solutions
- High cost of installation and maintenance
- The complex operational process of the real-time location system
- Development of real-time location systems in the emerging countries
- Development of cost-efficient real-time location system
- Less awareness about the advantages of RTLS as users still highly depend on barcodes and passive RFID tags for their businesses
The leading players in the market understand that market is fragmented due to the availability of a number of companies. The leading players are by making acquisitions and collaborations with other organizations and by combining the technology they develop new solutions which deliver quality and fulfill the customer's demand.
Some of the key players profiled in the report are Stanley Healthcare Solutions (United States), Redpine Signals (United States), Zebra Technologies Corp. (United States), Versus Technology, Inc. (United States), Lockheed Martin Corporation (United States), Sonitor Technologies AS (Norway), TeleTracking Technologies, Inc. (United States), CenTrak (United States), DecaWave Limited (Ireland) and Ubisense Group PLC Inc. (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like AeroScout, Inc. (United States), Savi Technology (United States), Ekahau, Inc. (United States), Midmark Corporation (United States) and Alien Technology (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Real Time Location System (RTLS) market by 2026. Considering Market by , the sub-segment i.e. will boost the Real Time Location System (RTLS) market.
Latest Market Insights:
On 28 April 2020, Silicon Labs, a leading provider of silicon, software, and solutions for a smarter, more connected world, announced the completion of its acquisition of Redpine Signals' Wi-Fi and Bluetooth business, development center in Hyderabad, India. This acquisition brings critical connectivity technology and talent to help to accelerate the low-power Wi-Fi connectivity roadmap for the Internet of Things while increasing scale and breadth.
On 19 May 2020, STANLEY Healthcare announced that its AeroScout Real-time Location System (RTLS) platform has been fully integrated and certified with Cisco DNA Spaces the next-gen indoor location services platform to offer enterprise-wide visibility into the location and status of assets and people in healthcare environments. It delivers the industry's most scalable location-based platform.
What Can be Explored with the Real Time Location System (RTLS) Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Real Time Location System (RTLS) Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Real Time Location System (RTLS)
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Real Time Location System (RTLS) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Real Time Location System (RTLS) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Associations, Government Regulatory Bodies, Technology Research Institutions, IT Firms and Private Research Institutions.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Real Time Location System (RTLS) Market?
The Real Time Location System (RTLS) market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Real Time Location System (RTLS) Market?
Top performing companies in the Global Real Time Location System (RTLS) market are Stanley Healthcare Solutions (United States), Redpine Signals (United States), Zebra Technologies Corp. (United States), Versus Technology, Inc. (United States), Lockheed Martin Corporation (United States), Sonitor Technologies AS (Norway), TeleTracking Technologies, Inc. (United States), CenTrak (United States), DecaWave Limited (Ireland) and Ubisense Group PLC Inc. (United Kingdom), to name a few.
3. What trending factors would impact Real Time Location System (RTLS) Market growth most?
"The increase in the use of smartphones across the globe
" is seen as one of major influencing trends for Real Time Location System (RTLS) Market during projected period 2020-2026.