The Real-Time Location Systems Market is likely to witness an impressive CAGR of 21.3% during the forecast period. The major factor that is contributing to the demand for real-time location systems is mainly the increasing adoption of such solutions in the healthcare, retail, manufacturing, and automotive verticals, which is underpinning the growth of the market.
What is a Real-Time Location Systems Market?
Real-time locating systems (RTLS) employ technology that mechanically tracks and identifies the location of people or objects in real-time within a building or other contained areas. Wireless RTLS tags are either worn by people or are attached to objects. In order to determine the location, fixed reference points receive wireless signals from tags. Utilities of real-time locating systems include locating pallets of merchandise in a warehouse, tracking automobiles through an assembly line, finding medical equipment in a hospital, etc.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
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Key Players
Some of the major real-time location system manufacturers are-
Stanley Healthcare, Zebra Technologies, Aruba Networks, Impinj, Savi Technology, TeleTracking Technologies, Ubisense Group, AiRISTA, Sonitor Technologies, Identech Group AG, Alien Technology Chemical Co., Ltd.
Regional Analysis
In terms of regions, Asia-Pacific is estimated to grow with the highest CAGR over the forecast period owing to the rising demand from Japan, South Korea, China, and Australia. North America and Europe are also expected to offer significant growth opportunities over the forecast period.
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