Real-Time Location System (RTLS) Market Research Report - Global Forecast to 2028

Global Real-Time Location System (RTLS) Market Research Report: By Type (RFID, Wi-Fi, Ultrasound, Infrared and ZigBee), By Application (Healthcare, Transportation and Logistics, Industrial Manufacturing, Government & Defense and Retail), By Sales Channel (Direct Channel and Distributed Channel) - Forecast till 2028

ID: MRFR/ICT/6574-CR | June 2019 | Region: Global | 158 pages

Real-Time Location System Market Overview:

Real-Time Location System Market is expected to reach USD 23.9042 Billion by 2028, registering a 28.7% CAGR during the review period (2019–2028). In 2018, the market valuation was reached USD 1.875 Billion marks.

The real-time location system market is driven by the rising demand for indoor applications in logistics, healthcare, and retail industries. Besides, the increasing use of ultrasound-based RTL systems for installation, testing, certification, and maintenance applications provides tremendous market growth opportunities.

COVID-19 Analysis:
The coronavirus pandemic has positively impacted the real-time location system market share, boosting the demand for digital freight solutions. COVID-19 vaccine transport creates a substantial demand for pharmaceutical logistics software and hardware. The massive undertaking of coronavirus vaccine transport might encourage freight-tech companies to respond to the pandemic how they have shaped the goods movement markets. 

Innovative industry players are actively building on emerging cold chain solutions and burgeoning interest in pharmaceutical logistics, ramping up GPS and temperature-tracking technologies to deploy in vaccine transport and beyond. The vaccine has hastened innovation in many freight tech companies that already provide temperature monitoring, now figure out how to do it on a much larger scale.

Market Dynamics:
Proliferation of industry 4.0 and the advent of 5.0 Impact the Market Growth Positively

The real-time location system market outlook appears promising, demonstrating tremendous opportunities. Rising numbers of well-established infrastructures and smart cities create the demand for RTLS solutions to monitor and track vehicle activities on the road. Besides, the high adoption of industry 4.0 and IoT in manufacturing industries worldwide drive the real-time location system market growth. 

Besides, the well-established IT sector globally increases the real-time location system market share, offering seamless connectivity. The early adoption of RTLS solutions in enterprises and individuals, alongside the presence of technology developers, positively impact real-time location system market statistics. 

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 and the proliferation of industry 4.0, and the advent of 5.0 are major real-time location system market trends that foster growth. 

Advent of Industry 5.0 to 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 allow improved communication between self-monitoring devices and production machines. Emerging markets present untapped opportunities for RTL technology. 

The adoption of automation in manufacturing sectors across developing regions is expected to propel the market growth, witnessing strong demand from several industries like healthcare and automotive. It is seen that the significant demand from manufacturing industries in emerging countries would offer a host of opportunities to global firms in the future. 

Restraints & Challenges:
Data Privacy and Security Concerns to Restrain Real-Time Location System Market Growth

Nowadays, various smart devices and electronics products have network embedded systems interconnected to devices to transmit useful measurement information and control instructions via distributed real-time location system networks. The limited data security offered by RTLS solutions restrains the market growth, presenting data privacy and security concerns. 

Cumulative Growth Analysis:
The RTTLS Market Share to Expand at a Strong Rate 

The industrial landscape is characterized by unprecedented levels of volatility, uncertainty, complexity, and ambiguity. Resultantly, the operational effectiveness of RTL systems and lower cost and enhanced security has become important for both machineries and personal devices. RTL technology and its advancements are playing a major role in maintaining industrial operations competitive and efficient. Resultantly, the global real-time location system market is expected to witness exponential growth over the next few years. 

Segment Overview:
The RTLS market is segmented on the basis of type, application, sales channel, and region. 

The RFID segment to Witness Significant Demand 

The type segment is sub-segmented into RFID, Wi-Fi, ultrasound, infrared, and ZigBee. Among these, The RFID segment accounts for the largest market share. In 2018, the segment created a value of USD 872.5 million, which is expected to grow further at 26.7% CAGR during the forecast period. On the other hand, the ultrasound segment is expected to register a 31.0% CAGR during the forecast period.

Healthcare is the Largest Applications Segment:
The application segment is further bifurcated into healthcare, transportation & logistics, industrial & manufacturing, government & defense, retail, and others. Among these, the healthcare segment accounts for the largest market share. In 2018, the healthcare segment created a valuation of USD 1.1252 billion, growing further at 26.8% CAGR during the review period.

Simultaneously, the industrial & manufacturing segment is expected to register a 31.9% CAGR during the review period. Real-time location systems find a large number of applications in the healthcare sector. 

Hospitals and clinics use RTLS technology to track, monitor, and manage medical equipment through real-time access to location data and equipment status. RTLS also helps hospitals to reduce inventory costs and the time to locate misplaced equipment, counter expensive medical equipment thefts, and automate the maintenance process.

The sales channel segment is sub-segmented into direct channel and distribution channel. By region, the market is bifurcated into Americas (US, Canada, Mexico, Rest-of-North America), Europe (Germany, UK, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. Among these, North America accounts for the largest market share, followed by Europe and the APAC region, respectively.

Regional Analysis:
The North American Market to Maintain its Winning Streak 

North America has always been the market leader and could continue to maintain its winning streak throughout the assessment period. 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. In 2018, the region accounted for a value of USD 950.6 million, which is expected to grow further at 24.0% CAGR during the anticipated period. 

Europe Accounts for Second Highest Share in Global Market
Europe holds the second-leading share in the global real-time location system market. Factors such as the rising demand from the healthcare industry and manufacturing sector in the region push the market demand. Moreover, strict regulations and considerable healthcare spending boost the real-time location system market size in the region.

The strong presence of medical device manufacturers in the region induces market expansion. In 2018, the European market was valued at USD 500.2 Million, which is projected to grow at a 30.8% CAGR during the assessment period.

Competitive Landscape:
Players Focus on M&A Activities and R&D Investments to Gain a Larger Competitive Share

The real-time location system market appears extremely competitive, considering the strong presence of established industry players. Global vendors are increasingly facing fierce rivalry from each other and from local firms, who are growing aware of the industry's regulations and suppliers. Therefore, eminent players seek opportunities to deeply integrate across the extended value chain while focusing on the expansion of production facilities, R&D investments, and M&A activities to gain impetus. 

Key Companies:

  • Zebra Technologies Corporation

  • IBM Corporation

  • STANLEY Healthcare

  • Siemens AG

  • General Electric Company

  • Airista Flow Inc.

  • RF Technologies Inc.

  • Sonitor Technologies Inc.

  • Identec Solutions

  • PINC Solutions

  • PLUS Location Systems USA

  • Radiance

  • CenTrak

  • Essensium

  • TeleTracking Technologies Inc

RF Technologies Inc. is an us-based leading provider of safety and security solutions for the healthcare, hospitality, and education sectors, leveraging radio frequency identification (RFID) and PinPoint® real-time locating system (RTLS) technologies. For over decades, the company has been setting safety & security standards, developing technologically advanced solutions that improve individuals' safety and security in hospital and senior living environments.

Recent Developments:

  • December 03, 2020 – Roambee (the US), a global IoT data-based asset tracking company, announced that its logistics monitoring solution is successfully used by a leading global pharmaceutical company for the clinical trial distribution COVID-19 vaccine candidate. The Roambee monitoring solution allows real-time assessment to recognize bottlenecks, using Cloud-analytics and machine learning. It also makes recommendations to optimize the process, especially when there is limited time to plan logistics and distribution from door to door.

  • December 14, 2020 – Inpixon, a US-based indoor intelligence company, announced the release of its high-performance, real-time location system server enhancements - nanoLES 3.3. The server enhancements can deliver increased location accuracy, expanded system scalability and interoperability, and enhanced developer tools for RTLS deployments.

  • December 21, 2020 – Eos Positioning Systems, Inc., a Canadian manufacturer of the popular Arrow Series® GNSS receivers, announced the availability of two new Arrow bundles - the Arrow Gold Bundle and Arrow 100 Bundle that can allow customers to combine Esri ArcGIS software licenses with the purchase of Eos Arrow Series® GNSS receivers. Esri is a worldwide market leader in geographic information system (GIS) software, location intelligence, and mapping.

  • August 21, 2020 – Quuppa, a real-time location tracking startup, announced raising a €20 million funding for its real-time Bluetooth location tracking (with centimeter accuracy). Quuppa's location tracking system has improved the production and operational efficiency in many factories and warehouses in manufacturing, healthcare, smart buildings, and the sports industry.

Report Overview:
Scope of the Report:
The report features unique and relevant factors expected to significantly impact the real-time location system market during the forecast period. The detailed and considerable amount of information in the report would help industry players understanding the market better. The MRFR report elaborates on the historical and current trends boosting the growth of the RTLS market. Besides, the analysis of COVID-19 impact on the real-time location system market is also included in the report. 

This report examines the demand-supply scenario, pricing structure, profit margins, production, and value chain analysis influencing the RTLS market growth. Regional assessment explained in this report unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling in the region enables users to evaluate company shares analysis, emerging product lines, the scope of the product in new markets, pricing strategies, innovation possibilities, and much more.

Segmentation Table:

By Type

  • RFID

  • Wi-Fi

  • Ultrasound

  • Infrared

  • ZigBee

  • Others

By Application:

  • Healthcare

  • Transportation

  • Logistics

  • Industrial Manufacturing

  • Government & Defense

  • Retail

  • Others

By Sales Channel:

  • Direct Channel

  • Distributed Channel 

By Region:

  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)

Report Scope:
Report Attribute/Metric Details
  Market Size

  • USD 23.9042 Billion (2028)
  • USD 1.875 Billion (2018)
  •   CAGR   28.7% (2019-2028)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, By Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   IBM Corporation, Zebra Technologies Corporation, STANLEY Healthcare, General Electric Company, Siemens AG, Airista Flow, Inc., Sonitor Technologies Inc., RF Technologies, Inc., IDENTEC SOLUTIONS, PLUS Location Systems USA, LLC, PINC Solutions, Radianse, Essensium, CenTrak, and TeleTracking Technologies, Inc.
      Key Market Opportunities   Regional assessment explained in this report unlocks a plethora of untapped opportunities in regional and domestic market places.
      Key Market Drivers   The real-time location system market outlook appears promising, demonstrating tremendous opportunities. Rising numbers of well-established infrastructures and smart cities create the demand for RTLS solutions to monitor and track vehicle activities on the road.

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    Frequently Asked Questions (FAQ) :

    2018–2028 is the growth period of the market.

    The increasing demand for RTLS in healthcare industry is the major factor driving the market.

    Asia-Pacific region stands as the second biggest market with a CAGR of 34%.

    IBM, STANLEY Healthcare, Zebra Technologies Corporation, General Electric Company companies are leading the market with growth perspective.

    North America, Europe, Asia-Pacific are the key regions grossing the highest market share.