Real-time Location Systems Market (RTLS) with Covid-19 impact analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt, Sports), Application Use Case & Region – Global Forecast to 2026

2022-01-18
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Published : Jan-2022
No. of Pages : 252
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“RTLS market projected to grow at 26.5% CAGR during the forecast period”

The RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7billion by 2026, at a CAGR of 26.5%. The increasing regulations in various industries to improve safety, workflow, and security and increasing popularity of ultra-wideband technology-based RTLS solutions are the key factors that will accelerate the growth of the RTLS market during the forecast period. Likewise, growing need for contact-tracing solutions due to COVID-19 pandemic and growing trend of hybrid RTLS solution are expected to create lucrative opportunities for the players in the RTLS market. However,high cost of installation and maintenance and stringent government rules and regulation are expected to restraint market growth.

Healthcare vertical is expected to dominate in the RTLS market during the forecast period

The healthcare vertical is expected to continue to account for the largest market size during the forecast period. The growth of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The growing usage of IoT devices in the healthcare sector is also expected to contribute to the growth of the RTLS market in the healthcare vertical. Concerns over the safety of patients and security of electronic health records and valuable assets have also encouraged the adoption of RTLS solutions in healthcare.

Supply chain management & operational automation/visibility application expected to witness the highest CAGR in the RTLS display market during the forecast period

The supply chain management & operational automation/visibility application is expected to witness the highest CAGR in the RTLS market during the forecast period. RTLS solutions are gaining popularity for locating inventory in warehouses, as well as throughout the supply chains. RTLS technologies allow better visualization of supply chain dynamics in real-time. As companies move toward Industry 4.0, they demand greater visibility for faster decision-making. Real-time data of supply chain operations allows quicker response times to make any alterations in normal operations.

North America is attributed to hold the largest share in overall RTLS market during the forecast period (2021-2026)

North America is expected to hold the largest share of the global RTLS market by 2026. Electronic giants in North American region are adopting RTLS technologies. For instance, Impinj introduced three next-generation RAIN RFID reader chips that enable IoT device makers to meet the increasing demand for item connectivity in retail, supply chain and logistics. Also, TeleTracking Technologies launched SynapseIQ, a powerful, cloud-based, analytics solution that delivers actionable insight and enterprise-wide visibility for health systems with timely data. The solution helps to increase accountability for staff across organizations, reduce operating costs, and increase overall system performance. Key players in the RTLS market are grabbing opportunities by indulging in agreements, partnerships and acquisitions. Product development,expansions, and R7D investments were a few of the other strategies adopted by companies in this market to strengthen their market position.

  • By Company Type: Tier 1 – 27%, Tier 2 – 41%, and Tier 3 – 32%
  • By Designation: C-level Executives – 26%, Director Level – 40%, and Others – 34%
  • By Region: North America – 47%, Europe – 28%, APAC – 19%, and RoW – 6%

The report profiles key players in the RTLS market and analyzes their market ranking. Players profiled in this report are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), Savi Technology(US), TeleTracking Technologies (US), Ubisense (UK), AiRISTA Flow (US), Sonitor (Connecticut), Alien Technology (US), Decawave (Ireland), Redpine Signals (US) CenTrack (US), OpenRTLS (US), Litum Technologies (US), GE Healthcare (US), and BlueIOT (US).

Research Coverage:

This research report categorizes RTLS market by offering, by technology, by application, by vertical, and by region.The report also describes the drivers, restraints, opportunities, and challenges of this market. Further, the report includes the value chain analysis, porter’s five forces analysis, trade analysis, ecosystem, technological trends, key patents, standards and frameworks, and case studies/use cases.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:

  • This report segments the RTLS market comprehensively and provides the closest market size projection for all sub segments across different regions.
  • The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
  • This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations and acquisitions.
  • This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of RTLS will look like for the forecast period. The region segment includes the country-wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.
Filed in: Information Technology
Publisher : marketsandmarkets
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