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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A real time location systems (RTLS) is a location tracking solution that helps organizations to identify, track, and manage their essential assets such as personnel, equipment, and tools in real-time. It is comprised of tags or badges that use wireless technologies such as ultrasound, RF signals, infrared, and ZigBee for communication between tags and readers that send signals to location sensors. These sensors then communicate with the middleware platform, which analyzes data and correlates information that helps to enhance the productivity and operational efficiency in enterprise. RTLS finds applications in staff safety, staff tracking, workflow automation, environment sensing, asset tracking, etc.

The global real time location systems (RTLS) market is estimated to be valued at US$ 4,922.8 million in 2021 and is expected to exhibit a CAGR of 31.8% over the forecast period (2021-2028).

Recent Developments:

  • In February 2020, Impinj Inc. introduced the Impinj R700 RAIN RFID reader, designed for enterprise-grade RAIN deployments. The Impinj R700 reader delivers industry-leading performance with the best receive sensitivity, fastest network connectivity, and powerful edge processing for IoT solutions.
  • In March 2018, Connexient Partners with Vizzia Technologies to Integrate Indoor Navigation, Digital Wayfinding and Real-Time Location Systems (RTLS) for Healthcare Organizations
  • In March 2018, CenTrak introduced IRUS - The First Hybrid Ultrasound-Gen2IR Internet of Things (IoT) location and sensing offering. IRUS specifically developed for use cases requiring Clinical-Grade Locating in open spaces, such as infusion areas, preoperative and post-anesthesia care units, and emergency departments.

North America held dominant position in the real time location systems (RTLS) market in 2020, accounting for 43.3% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Real Time Location Systems (RTLS) Market Value (US$ Mn), by Region, 2020

Real Time Location Systems (RTLS)  | Coherent Market Insights

Market Dynamics- Drivers

Advanced features cost savings and increased efficiency is expected to drive growth of the global real-time location systems (RTLS) market during the forecast period. Controlling numerous assets throughout indoor and outdoor production environments is a rigorous task. RTLS determines the precise location and removes time-consuming manual searches and audits for tracking assets. Furthermore RTLC simplifies asset management and restructures supply chain and logistics operations, in order to improve enterprise resource planning. For any business, insights play a crucial role that can result in enhanced safety, productivity, and efficiency. Moreover, RTLS provides knowledge through efficient asset tracking and management. For manufacturing industries, RTLS allows flow and efficient management of all critical assets in storage yard or facility itself.

Rising application of RTLS solutions in various industries is expected to propel the global real time location systems (RTLS) market growth over the forecast period. Process optimization and workflow automation are two major parameters that provide an enterprise with the ability of operational excellence and efficient staff productivity. RTLS control and manage personnel/assets and result in streamlined processes. This, in turn, the demand for RTLS solutions is increasing at a rapid pace across numerous industries such as manufacturing, defense, process industries, and retail. RTLS offers various advantages over other technologies such as GPS as signals sometimes do not penetrate some materials used in construction, and GPS receivers are expensive, complex and require higher power than RTLS tags.

Market Opportunities

RTLS finds applications in version industry verticals including healthcare, transportation, logistics, hospitality, manufacturing, process, and retail sectors. The demand for RTLS solutions in the aforementioned industry verticals is due to declining prices of RTLS tags, supportive government initiatives, and rising technological advancements, in order to encourage the deployment of RTLS across numerous industries worldwide. Various departments in the hospitals such as clinical and biomedical engineering and materials management are increasingly following the trend of deploying RTLS. As of 2013 in the U.S., only 12% to 15% of hospitals had adopted RTLS technology and over 75% of hospitals worldwide have not installed RTLS solutions as yet.

Apart from healthcare applications, RTLS solutions are used in various other industry verticals. Although healthcare accounts for major share, staff security and safety are gradually emerging as a major application sector. Thus, industry verticals such as manufacturing and process industries, defense and government are major potential markets for RTLS going ahead.

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Real Time Location Systems (RTLS) Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$  4,922.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 31.8% 2028 Value Projection: US$  33,937.6 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Argentina, Brazil, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, South Africa, Rest of Middle East & Africa
Segments covered:
  • By Technology: RFID, Wi-Fi, ZigBee and UWB, Ultrasound, Infrared, Others
  • By End-use Industry: Healthcare, Transportation & Logistics, Manufacturing & Process Industry, Government & Defence, Hospitality & Retail, Others
Companies covered:

AeroScout, Inc., Motorola Solutions Inc., Skytron LLC, PINC Solutions Corporation, Axcess International, Inc., Ubisense Group plc, Zebra Technologies Corporation, Awarepoint Corporation, and Sonitor Technologies AS.

Growth Drivers:
  • Advanced features cost savings and increased efficiency 
  • Rising application of RTLS solutions in various industries
Restraints & Challenges:
  • Rising application of RTLS solutions in various industries 
  • High initial costs involved in deployment of RTLS solutions

Market Trends

Most RTLS developers revamp and modify existing technologies to cater to emerging challenges. Earlier, RTLS technologies were either of low precision with high range or high precision with low range. Most companies combine both technologies to achieve both high and low precision, depending upon specific requirements. Companies including Zebra Enterprise Solutions, Centrack, and Versus Technology are developing a solution that is a combination of RTLS technologies so as to achieve both high and low precision.

The potential of UWB and Zigbee technologies are fast gaining popularity in the market and increasing adoption in RTLS solutions is driving market growth, owing to high degree of accuracy in asset tracking and management these technologies offer. ZigBee technology enables monitoring and control capabilities for residential and industrial applications within a range of 100 meters. ZigBee addresses the specific needs of the sensory network and remote control and monitoring applications using the IEEE 802.15.4 standard.

Figure 2. Global Real Time Location Systems (RTLS) Market Share, By Technology, 2020

Real Time Location Systems (RTLS)  | Coherent Market Insights

Key Takeaways of the Graph:

  • The RFID segment held dominant position in the market and accounted for 37.5% share in the global real time location systems (RTLS) market in 2020. The segment is expected to reach US$ 12,710.6 million in 2028. This is owing to rising need for on-site personnel tracking systems that uses radio frequency identification (RFID) enabled badges.

Market Dynamics- Restraints

Concerns regarding privacy and operational challenges are expected to restrain growth of the global real time location systems (RTLS) market during the forecast period. Lead-shielded rooms in the hospital pose major challenges for RTLS to operate in these locations along with halls and adjoining rooms. Ability to be connected to cables and access to electric supply could also create problems for RTLS installations as these systems mainly depend on receivers that read signals emitted by tags. New hospital buildings do have spaces above the ceiling that could be accessed for cable and electric drops; however, these modifications are expensive and pose challenges in older hospital buildings.

High initial costs involved in deployment of RTLS solutions is expected to hinder the global real time location systems (RTLS) market growth over the forecast period. Initial deployment cost of hardware components and software is significantly high. Active tags carry a high cost per tag (US$ 50 – US$ 100) as compared to passive technology (US$ 0.25 to US$ 5). However, passive tag readers are expensive and the information exchanged between the tag and reader is limited as compared to active tags Wi-Fi. Furthermore, high hardware costs associated with Bluetooth, Wi-Fi, and active RFID technologies are expected to hinder the market growth in the near future.

Competitive Section

Key players operating in the global real time location systems (RTLS) market are AeroScout, Inc., Motorola Solutions Inc., Skytron LLC, PINC Solutions Corporation, Axcess International, Inc., Ubisense Group plc, Zebra Technologies Corporation, Awarepoint Corporation, and Sonitor Technologies AS.

Key Developments

  1. Major companies in the market are focused on product launches, in order to gain a competitive edge in the market. For instance, in April 2019, Motorola Solutions Inc. introduced Analytics, Mapping Enhancements to CommandCenteral Aware Software.
  2. Key players in the market are involved in partnerships and collaborations, in order to enhance the market presence. For instance, August 2018, Ubisense Group plc partnered with Quuppa to extend reach of world-class industrial location-aware solutions.

Real-time location systems, also called real-time monitoring systems, are tools used to remotely identify and monitor the location of people or objects in real-time, normally within a large building or similar contained area. Some of the common uses for RMTs include monitoring safety, inventory control, and emergency preparedness. They can be used in closed or open buildings, and also in various situations where visual surveillance cannot readily locate or assess the status of a person or item. There are several components of a typical real-time location system that allow for the tracking of individuals and items.

Market Dynamics

Rising adoption in the healthcare sector is expected to boost the global real time location systems (RTLS) market growth over the forecast period.  The adoption of RTLS solutions has increased in the healthcare sector particularly since it helps to provide real-time location of staff members and limits and controls asset movement as well as track valuable equipment and assets with the geofences. RTLS can also keep track of patient movement and location and all the hospital staff an infected patient has interacted with. This, in turn, can aid in reducing the spread of infection, especially in the case of COVID-19.

Increasing popularity of ultra-wideband technology-based RTLS solutions is expected to accelerate the global real-time location systems (RTLS) market growth in the near future.

Key features of the study:

  • This report provides in-depth analysis of the real time location systems (RTLS) market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global real time location systems (RTLS) market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include AeroScout, Inc., Motorola Solutions Inc., Skytron LLC, PINC Solutions Corporation, Axcess International, Inc., Ubisense Group plc, Zebra Technologies Corporation, Awarepoint Corporation, and Sonitor Technologies AS.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global real time location systems (RTLS) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global real time location systems (RTLS) market

Detailed Segmentation:

  • Global Real Time Location Systems (RTLS) Market, by Technology:
    • RFID
    • Wi-Fi
    • ZigBee and UWB
    • Ultrasound
    • Infrared
    • Others
  • Global Real Time Location Systems (RTLS) Market, by End-use Industry:
    • Healthcare
    • Transportation & Logistics
    • Manufacturing & Process Industry
    • Government & Defence
    • Hospitality & Retail
    • Others
  • Global Real Time Location Systems (RTLS) Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • AeroScout, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Motorola Solutions Inc.
    • Skytron LLC
    • PINC Solutions Corporation
    • Axcess International, Inc.
    • Ubisense Group plc
    • Zebra Technologies Corporation
    • Awarepoint Corporation
    • Sonitor Technologies AS.

*Browse all the market data tables and figures on “Global Real Time Location Systems (RTLS) Market- Forecast to 2028”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
    • Impact of COVID-19 Pandemic on Global Real Time Location Systems (RTLS) Market
  4. Global Real Time Location Systems (RTLS) Market, By Technology, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028(%)
      • Segment Trends
    • RFID
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Wi-Fi
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • ZigBee and UWB
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Ultrasound
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Infrared
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  5. Global Real Time Location Systems (RTLS) Market, By End-use Industry, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Transportation & Logistics
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Manufacturing & Process Industry
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Government & Defence
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Hospitality & Retail
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  6. Global Real Time Location Systems (RTLS) Market, By Region, 2017-2028  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2028(%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028(%)
        • U.S.
        • Canada
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028(%)
        • Argentina
        • Brazil
        • Mexico
        • Rest of Latin America
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Technology, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028(%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Technology, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028(%)
        • China
        • India
        • ASEAN
        • Japan
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Technology, 2017–2028 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028(%)
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  7. Competitive Landscape
    • Company Profiles
      • AeroScout, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Motorola Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Skytron LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PINC Solutions Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Axcess International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ubisense Group plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zebra Technologies Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Awarepoint Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sonitor Technologies AS.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse market data tables and figures on “Global Real Time Location Systems (RTLS) Market-forecast to 2028”

FAQgrowicon

Frequently Asked Questions

The global real time location systems (RTLS) market is estimated to be valued at US$ 4,922.8 million in 2021 and is expected to exhibit a CAGR of 31.8% over the forecast period (2021-2028).
High initial costs involved in deployment of RTLS solutions is expected to hinder the market growth over the forecast period.
Developing solutions with a combination of different RTLS technologies is one of the key trends.
Advanced features cost savings and increased efficiency is expected to drive growth of the market during the forecast period.
The RFID segment held dominant position in the market and accounted for 37.5% share in the market in 2020.
Key players operating in the market are AeroScout, Inc., Motorola Solutions Inc., Skytron LLC, PINC Solutions Corporation, Axcess International, Inc., Ubisense Group plc, Zebra Technologies Corporation, Awarepoint Corporation, and Sonitor Technologies AS.
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