A real-time location system (RTLS) is a technology which is capable of detecting and tracking the geolocation of any objects in real time. The target information is generally collected over wireless system. RLTS is sometime perceived similar to RFID (Radio Frequency Identification) but both differ in scope and technology. The core of RLTS is the real time data and to identify the target automatically.
RLTS Market Overview
RLTS global market is expected to acquire a distinct prominence owing to rise in security concern and asset tracking. Surge in workplace accidents and to monitor assets can be attributed for its sustained growth.
RLTS market is primarily driven by its growing demand in healthcare sector. RLTS can be programmed to send highly accurate data in real time if used with combination of advanced application and software, which has been proved lifesaving in certain scenario like fire evacuation or a natural calamity like earthquake.
Real Time Location System: The Need of the Hour
The current state of pandemic caused by COVID-19 is grave and the panic it has unleashed globally is beyond imagination. RLTS technology can be fully leveraged in this situation, especially in quarantine centre and to track the real time location of patients and staffs.
The education sector which is considered as the future of a country is going through extreme crisis. RLTS with combination of RFID can be implemented at large scale to alert the responsible person to keep a check on social distancing. Successful implementation and deployment of such technology can also make ourselves prepared for future pandemic.
RLTS Market: Decoding Digital Generation And Growing Digitalization of Businesses
RLTS have plenty of solution to offer, not only to businesses but also for consumers and individual entity. In the era of information technology there are no such things which cannot be digitalize. RLTS is leveraging such technological advancement and digitization in real time, which is further fuelling the growth of market
RLTS is also penetrating its application in to mega stores, warehouse, correctional facilities where misplaced items can be located easily in no time.
Key Restraint in Real Time Location System Market: Security and Privacy
Privacy concern, buggy data and lack of signal strength are largely attributing the hampering of market growth of RLTS. Besides this, the Software is always vulnerable to cyber and malware attacks when connected to a less secure network and can result in theft of organizational data. Furthermore, lack of expertise, awareness in developing countries and well-skilled technicians are also key challenges.
Real Time Location System Market: Region-wise Analysis
Real time location system market growth is steady in North America, where a number of players are offering their services.
Outside of North America, Germany, UK, and France are some of the other important countries for real time location systems.
The shifting of technological prowess to Asia Pacific has meant that in addition to traditional heavyweights including Japan, and South Korea, China and India are also likely to be the key markets for real time location system market.
Real Time Location System Market: Competitive Landscape
- STANLEY Healthcare (US)
- TeleTracking Technologies (US)
- IMPINJ (US)
- Zebra Technologies (US)
- Ubisense Group (UK).
- DecaWave (Ireland Visible Assets (US).
- Mojix (US), Tracktio (Spain)
- CenTrak (US)
For instance, in Sept 2016, Visible Assets, Inc., a Defense/Industrial Internet of Things company was awarded a competitive Bureau of Reclamation contract. The company successfully completed deployment of a fully automated Armory 20/20 system, including 100% accurate automated asset audits
In 2017, Lockheed Martin, integrated air and missile defense; radar and partnered with ONYX Beacon to install its BLE beacon-based RTLS
In January 2018, Zebra Technologies Corporation partnered with Dubai Health Authority to provide new specialized healthcare technology solutions
Furthermore, in 2018, in a bid to improve healthcare delivery Zebra Technologies Corporation collaborated with Capital Health to offer comprehensive portfolio of advanced patient identification solutions to support the Capital Health’s new Specialized Rehabilitation Hospital (SRH)
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
Real Time Location System Market: Key Segments
The Real Time Location System Market can be segmented on the basis of the following:
- Badges & Tags
- Data Analytics engine
By End Users
- Mega store
- Warehouse Management
- Supply Chain Management
- Inventory/Asset Tracking
- Access Control
- Manufacturing And Processing
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.