What are the Historical Developments and Current Growth Metrics of the Real-Time Location Systems (RTLS) Market?
The real-time location systems (rtls) market has seen considerable growth due to a variety of factors.
• In recent times, the market size for real-time location systems (RTLS) has seen exponential growth. The market size is projected to increase from $11.67 billion in 2024 to $14.93 billion in 2025, showcasing a compound annual growth rate (CAGR) of 27.9%.
This growth during the historic period can be traced back to the rising demand in sectors such as manufacturing, logistics and supply chain management, retail inventory management, employee safety and productivity, and a heightened emphasis on patient care in the healthcare industry.
What Does Future Hold for The Real-Time Location Systems (RTLS) Market Size?
The real-time location systems (rtls) market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the real-time location systems (RTLS) market is projected to experience massive expansion. The market is anticipated to reach $42.36 billion in 2029, with a compound annual growth rate (CAGR) of 29.8%.
The expansion within the forecast period can be ascribed to the widespread growth in retail for enhancing the customer experience, the rising demand for social distancing solutions, an emphasis on sustainability, application in the sports and entertainment sector, and government programs aimed at public safety. Key trends within the forecast period encompass indoor navigation solutions, development in logistics and supply chain, adoption of ultra-wideband (UWB) technology, adoption of cloud-based RTLS solutions, matters of privacy and ethical considerations, and integration with data analytics and AI.
What Key Factors and Trends are Driving the Growth of the Real-Time Location Systems (RTLS) Market?
The surge in smartphone usage is predicted to significantly engender the expansion of the real-time location system (RTLS) market in the subsequent years. Smartphones are a form of handheld digital gadget that is connected to a mobile network and aids users in making calls, dispatching text messages, and accessing the internet. The global population's rise has given birth to a higher demand for smartphones. They are employed in managing emergencies and incident responses due to the real-time location system (RTLS) advancements, which assist in automatically tracing and identifying the position of either objects or individuals in real-time. For example, a report by Cybercrew, a UK-based firm specializing in creating and offering cybersecurity remedies for businesses of every size, in March 2023, projected that the proportion of UK homes using smartphones will leap to 93.8% by 2026. Consequently, the proliferating necessity for smartphones fuels the real-time location system (RTLS) market's growth.
What are the Market Segments in the Real-Time Location Systems (RTLS) Market?
The real-time location systems (RTLS) market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Technology: RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Other Technologies
3) By Application: Inventory Or Asset Tracking And Management, Personnel Or Staff Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Operational Automation Or Visibility, Other Applications
4) By End Use Industry: Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing, Other End User Industries
Subsegments:
1) By Hardware: Tags, Readers, Antennas, Middleware, Access Points
2) By Software: RTLS Software Platforms, Analytics Software, Integration Software
3) By Service: Consulting Services, Installation And Deployment Services, Maintenance And Support Services
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What Trends are Shaping the Real-Time Location Systems (RTLS) Market?
Prominent companies in the real-time location system (RTLS) industry are directing their efforts towards constructing tech-savvy solutions for real-time asset and personnel tracking and supervision. For instance, WISER Systems, Inc., an American firm with specialization in production and distribution, unveiled a novel generation of Real-Time Location Systems in October 2024. The capability of RTL systems to wirelessly track a number of tagged objects in real time, even in bustling, metal-laden environments, is notably precise. These systems, which are easy to set up, can supervise assets within and beyond premises. They offer a vivid, prompt and precise visualization of facilities.
Who Are the Key Players in the Real-Time Location Systems (RTLS) Market?
Major companies operating in the real-time location systems (RTLS) market include:
• Zebra Technologies Corp.
• Stanley Healthcare
• CenTrak Inc.
• Ubisense Group PLC
• TeleTracking Technologies Inc.
• Sonitor Technologies AS
• AeroScout Industrial
• DecaWave Limited
• Midmark Rtls Solutions Inc.
• AiRISTA Flow Inc.
• Savi Technology
• Lockheed Martin Corporation
• GE HealthCare Technologies Inc.
• Impinj Inc.
• Identec Group AG
• Ekahau
• Securitas AB
• Aruba Networks
• Alien Technology LLC
• Mirion Technologies
• Axcess International Inc.
• Awarepoint Corporation
• Cerner Corporation
• Elpas Solutions
• Infor Inc.
• Intelligent InSites Inc.
• Mojix Inc.
• Navis
• PLUS Location Systems
• Redpine Signals Inc.
• RF Technologies Inc.
What are the Regional Insights into the Real-Time Location Systems (RTLS) Market?
North America was the largest region in the real-time location systems (RTLS) in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (RTLS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
