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Real-Time Locating Systems Market Research Report Information By Components (Hardware, Software), By Application (Inventory, Asset Tracking Management), By Technology (RFID, Wi-Fi, UWB, GPS), By Industries (Banking, Manufacturing, Media & Entertainment, Healthcare) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.


ID: MRFR/ICT/1436-HCR | 110 Pages | Author: Shubham Munde| May 2024

Real-Time Locating Systems Market Overview


The Real-Time Locating Systems Market size is projected to grow from USD 5.8387 Billion in 2024 to USD 28.8224 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.09% during the forecast period (2024 - 2032). Additionally, the market size for real-time locating systems was valued at USD 4.6479 Billion in 2023.


The surge in need to get high efficacy out of available resources can propel and increase industrial growth. Creating location system awarenessis the key market driver enhancing market growth.


Figure 1: Real-Time Locating Systems Market Size, 2022-2032 (USD Billion)


Real-Time Locating Systems Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Real-Time Locating Systems Market Trends


High return on investment is driving the market growth


Installation of RTLS solutions may result in reduced capital assets or Inventory. Real-time location systems solutions precisely track the location of assets, helping industries record when an item is out of service and how long it spends in maintenance, which is an important cost-saving measure. Thus, by leveraging real-time location systems to understand better real-time utilization (dwell times vs. time in use), customers can limit their purchases and avoid owning more equipment than required. Thus, a high return on investment (Rol) can be achieved by preventing unnecessary capital expenditure, ensuring equipment availability, and minimizing or avoiding maintenance downtime, loss, theft, and day-to-day misplacement.


RTLS solutions improve productivity by shortening the time they take to locate an asset, which is particularly helpful for transportation, biomedical engineering, and nursing staff. Equipment searches and paperwork related to assets translate into delays in the overall process, adversely impacting productivity. RTLS systems minimize that timeframe and provide real-time data about all these assets with precise locations, which leads to better productivity.


RTLS solutions are being increasingly deployed in supply chain operations of different industries to save time and minimize errors while improving the inventory turnover ratio, thereby saving costs and increasing the market CAGR. Real-time location systems solutions track assets and personnel and enable enterprises to manage their assets to boost productivity by analyzing the data captured and forecasting potential errors.


Additionally, the rapid uptake of RFID technology in various industries for real-time asset tracking and supply chain management influence market growth. Rising development in IoT & IIoT technology, the proliferation of Industry 4.0, and the advent of 5.0 are major real-time location system market trends that foster real-time locating systems market revenue.


Industry 5.0 will present robust opportunities, especially in emerging nations. Industrial automation substantiates the integration of machine-to-machine communication (M2M) and the Internet of Things (IoT) to improve communication between self-monitoring devices and production machines. Emerging markets present untapped opportunities for RTL technology.


Real-Time Locating Systems Market Segment Insights


Real-Time Locating Systems Components Insights


Based on components, the global real-time locating systems market segmentation includes hardware, software. The hardware segment dominated the market, accounting for ~40% of the total RTLS market in 2022. Hardware such as tags, badges, and readers are critical components in an RTLS and make up for a major part of the cost of the solution, owing to which the segment captured the largest share of the market. The software segment accounted for ~31% of the total RTLS market in 2022 and is expected to witness the highest growth during the forecast period.


Figure 2: Real-Time Locating Systems Market, by Components, 2022 & 2032 (USD billion)


Global Real-Time Locating Systems Market, by Components


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Real-Time Locating Systems Application Insights


Based on application, the global real-time locating systems market segmentation includes Inventory, Asset Tracking Management. Inventory holds the largest market share due to the growing need for efficient inventory management in various industries, such as healthcare and manufacturing. Asset tracking management is also expected to grow significantly in the forecast period due to the increasing adoption of Internet of Things (IoT) technology.


February 2022: Zebra Technology Corporation is one of the global providers of location solutions ranging from simple passive RAIN RFID tags on packages to the most complicated real-time active monitoring of athletes. Zebra Technologies announced a New Portfolio of Simple-to-Deploy integrated RFID Portals. The integrated RFID portals will improve operational efficiency, workflow accuracy, and performance across various industrial and commercial contexts.


Real-Time Locating Systems Technology Insights


The global real-time locating systems market segmentation, based on, includes RFID, Wi-Fi, UWB, and GPS. The RFID segment dominated the real-time location systems market growth in 2022 and is expected to maintain its dominance in the upcoming years. This is due to RFIDs being widely accepted and used as they include enhanced features such as low maintenance cost, high accuracy, and long battery life compared to other wireless communication technologies such as Wi-Fi. However, Ultra-Wideband (UWB) segment is expected to witness the highest growth rate during the forecast period. The major factor contributing to UWB technology's growth is the surge in technological advancement and market competitiveness. Moreover, the high precision location identification, low interference with other signals, usability in both outdoor & indoor environments, and acceptable operating range make UWB a significant technology in the real-time location systems industry.


Real-Time Locating Systems Industries Insights


Based on Industries, the global real-time locating systems market segmentation includes banking, manufacturing, media & entertainment, and healthcare. Healthcare holds the largest market share. This is due to the mass adoption of RTLS-based systems for various healthcare applications, particularly in the US, which is responsible for expanding the healthcare vertical. The real-time location system market expansion in the health vertical is anticipated to be aided by the expanding use of loT devices in the industry.


August 2021: Texas Rangers Baseball Club selected Aruba ESP-based network at its new 40,518-seat Globe Life Field stadium to deliver premium fan and event experiences. The wireless network installed by Rangers comprises Aruba Wi-Fi 6 Indoor Access Points (APS), outdoor APs, and mobility controllers.


August 2021: AIRISTA Flow, Inc. added Bluetooth Low Energy (BLE) 5.1 to its portfolio of location-based services. This new technology increases location accuracy and allows tracking in the vertical dimension, thereby improving the overall performance.


Real-Time Locating Systems Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American real-time locating systems market area will dominate this market; the growing industrial sector and the increasing numbers of small and medium-sized enterprises (SMEs) in the region drive real-time location system market growth will boost the market growth in this Region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: REAL-TIME LOCATING SYSTEMS MARKET SHARE BY REGION 2022 (%)


GLOBAL REAL-TIME LOCATING SYSTEMS MARKET SHARE BY REGION


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's real-time locating systems market accounts for the second-largest market share due to the Factors such as the rising demand from the healthcare industry and manufacturing sector in the Region pushing the market demand. Further, the German real-time locating systems market held the largest market share, and the UK real-time locating systems market was the fastest-growing market in the European Region.


The Asia-Pacific real-time locating systems market is expected to grow at the fastest CAGR from 2023 to 2032.This is due to the increasing working population and the booming healthcare industry in the world's emerging economies. Moreover, China’s real-time locating systems market held the largest market share, and the Indian real-time locating systemsmarket was the fastest-growing market in the Asia-Pacific region.


Real-Time Locating Systems Key Market Players& Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the real-time locating systemsmarket grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The real-time locating systemsindustry must offer cost-effective items to expand and survive in a more competitive and rising market climate.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer’s uses in the global real-time locating Systems industry to benefit clients and increase the market sector. In recent years, the real-time locating systems industry has offered some of the most significant advantages to the IT sector. Major players in the real-time locating systems market, including Stanley Healthcare (U.S.), Ubisense Group PLC. (U.K.), Savi Technology (U.S.), IMPINJ Inc. (U.S.), AIRISTA,LLC (U.S.), Versus Technology Inc. (U.S.), CenTrak Inc. (U.S.), Identec Group AG (Liechtenstein), Decawave Ltd. (Ireland), Redpine Signals Inc. (U.S.), Awarepoint Corp. (U.S.), are attempting to increase market demand by investing in research and development operations.


AiRISTA is a leader in providing Wi-Fi-based Real Time Location Systems (RTLS), process improvement, and hand hygiene solutions. AiRISTA delivers superior software, hardware, and services for forward-thinking organizations globally with innovative products and patented technologies such as RFID-over-Wi-Fi. AiRISTA hand hygiene solutions help, meet FDA regulations while RFID, IR, GPS, and BLE-based tags, accompanied by user-friendly software interfaces, enhance visibility into the location, condition, and status of assets, people, and workflows. Partners include wireless software developers, leading systems integrators, and resellers. Users of AiRISTA solutions include a diverse, international portfolio of healthcare, manufacturing/industrial, retail, and government clients. AIRISTA Flow, Inc. added Bluetooth Low Energy (BLE) 5.1 to its location-based services portfolio. This new technology increases location accuracy and allows tracking in the vertical dimension, thereby improving the overall performance.


Zebra Technologies Corporation is an American mobile computing company specializing in technology that senses, analyzes, and acts in real time. The company manufactures and sells marking, tracking, and computer printing technologies. Zebra Technology Corporation is one of the global providers of location solutions ranging from simple passive RAIN RFID tags on packages to the most complicated real-time active monitoring of athletes. Zebra Technologies announced a New Portfolio of Simple-to-Deploy integrated RFID Portals. The integrated RFID portals will improve operational efficiency, workflow accuracy, and performance across various industrial and commercial contexts.


Key Companies in the Real-Time Locating Systems market include




  • BeSpoon SAS (France)




  • Zebra Technologies Corp. (U.S.)




  • Stanley Healthcare (U.S.)




  • Ubisense Group PLC. (U.K.)




  • Savi Technology (U.S.)




  • IMPINJ Inc. (U.S.)




  • ARISTA LLC (U.S.)




  • Versus Technology Inc. (U.S.)




  • CenTrak Inc. (U.S.)




  • Identec Group AG (Liechtenstein)




  • Decawave Ltd. (Ireland)




  • Redpine Signals Inc. (U.S.)




  • Awarepoint Corp. (U.S.)




  • Brunswick Corporation




Real-Time Locating Systems Industry Developments


March 2022: SICK AG, a sensor manufacturing company, is expanding its portfolio of localization devices with help from Sewio, a Czech startup with substantial experience with ultra-wideband (UWB) technology. This implies that SICK can also provide its clients with a comprehensive array of indoor localization solutions for track & trace applications in non-automated or semi-automated environments.


March 2022: WISER Systems, one of the leading providers of real-time location and tracking systems (RTLS), has announced the launch of ATLAS, its newest product. This innovative program enables users to wirelessly and accurately identify and track tagged things in densely packed metallic surroundings in real-time while maintaining the precision, minimum infrastructure, and ease of installation/use that WISER's lower-density Locator offers.


March 2022: BlueIOT (Beijing) Technology Co. Ltd, an RTLS provider dedicated to developing high-precision locating products and solutions based primarily on Bluetooth Angle-of-Arrival (AoA) technology, plans to deploy an advanced Real-Time Locating System (RTLS) in an Indonesian hospital with a total area of over 8,000 square meters in Spring 2022.


Real-Time Locating Systems Market Segmentation


Real-Time Locating Systems Components Outlook




  • Hardware




  • Software




Real-Time Locating Systems Application Outlook




  • Inventory




  • Asset Tracking Management




Real-Time Locating Systems Technology Outlook




  • RFID




  • Wi-Fi




  • UWB




  • GPS




Real-Time Locating Systems Industries Outlook




  • Retail




  • Banking




  • Manufacturing




  • Media & Entertainment




  • Healthcare




Real-Time Locating SystemsRegional Outlook




  • North America






  • US




  • Canada






  • Europe






  • Germany




  • France




  • UK




  • Italy




  • Spain




  • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Attribute/Metric Details
Market Size 2023 USD 4.6479 Billion
Market Size 2024 USD 5.8387 Billion
Market Size 2032 USD 28.8224 billion
Compound Annual Growth Rate (CAGR) 22.09% (2024-2032)
Base Year 2022
Market Forecast Period 2024-2032
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Components, Application, Technology, Industries, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Stanley Healthcare (U.S.), Ubisense Group PLC. (U.K.), Savi Technology (U.S.), IMPINJ Inc. (U.S.), AIRISTA,LLC (U.S.), Versus Technology Inc. (U.S.), CenTrak Inc. (U.S.), Identec Group AG (Liechtenstein), Decawave Ltd. (Ireland), Redpine Signals Inc. (U.S.), Awarepoint Corp. (U.S.)
Key Market Opportunities The increasing dependence on global IT infrastructure support of different industries around the globe has doubled the need for real-time locating systems market Trends Forecast.
Key Market Dynamics The surge in need for high efficacy from available resources can propel real-time locating systems market growth.


Frequently Asked Questions (FAQ) :

The global real-time locating systems market size was valued at USD 4.6479 Billion in 2023.

The global market is projected to grow at a CAGR of 22.09% during 2024-2032.

North America had the largest share of the global market

The key players in the market are Stanley Healthcare (U.S.), Ubisense Group PLC. (U.K.), Savi Technology (U.S.), IMPINJ Inc. (U.S.), AIRISTA,LLC (U.S.), Versus Technology Inc. (U.S.), CenTrak Inc. (U.S.), Identec Group AG (Liechtenstein), Decawave Ltd. (Ireland), Redpine Signals Inc. (U.S.), Awarepoint Corp. (U.S.).

The hardware real-time locating systems category dominated the market in 2022.

The Inventory had the largest share of the global market.

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