Real Time Location System Market (RTLS) Worth $ 8.79 Billion by 2023
PUNE, India, August 2, 2018 /PRNewswire/ --
ReportsnReports.com adds Real Time Location System market (RTLS) is expected to grow from USD 3.19 billion in 2018 to reach USD 8.79 billion by 2023, growing at a CAGR of 22.5% during 2018 to 2023 driven by emergence of innovative startups, market competitiveness, and availability of customized solutions; high return on investment; regulatory compliance across industries including healthcare, oil & gas, mining, education, and manufacturing.
Browse 76 Market Data Tables and 71 Figures spread through 204 Pages and in-depth TOC on "Real Time Locating Systems (RTLS) Market by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE), Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, and Geography - Global Forecast to 2023" http://www.reportsnreports.com/reports/370278-real-time-location-system-rtls-market-product-hardware-software-service-technology-rfid-wi-fi-uwb-infrared-others-application-healthcare-manufacturing-process-industries-govt-defense-retail-others-and-geography-forecasts-analysis-to-2020.html .
Trending companies of RTLS market are STANLEY Healthcare (US), Zebra Technologies (US), Aruba Networks (HP Enterprise, US), IMPINJ (US), Savi Technology (US), TeleTracking Technologies (US), Ubisense Group (UK), AiRISTA (US), Awarepoint (US), Identec Group (Liechtenstein), and Alien Technology (US) and also others are Deca Wave (Ireland), Redpine Signals (US), Visible Assets (US), Litum Technologies (Turkey), Mojix (US), Tracktio (Spain), CenTrak (US), Leantegra (US), and OpenRTLS, while Cerner Corp. (US), GE Healthcare (US), Cisco Systems (US), Sonitor Technologies (Norway), and STATSports Technologies (UK).
Wi-Fi-based RTLS solutions have dominated the global RTLS market, in terms of size, with its applications in several industries such as healthcare, retail, logistics, and manufacturing. During the forecast period, Wi-Fi-based RTLS solutions have growth potential and expansion capacity in new and emerging RTLS applications in education, sports and entertainment, hospitality, communications, and corporate sectors as Wi-Fi-based RTLS solutions can be deployed in the already existing LAN infrastructure, which reduces efforts as well as cost required for setting new infrastructure.
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APAC is one of the potential regions for the RTLS market globally, and the market in this region is expected to grow at the highest CAGR during the forecast period. As RTLS is an ideal medium for tracking the assets or people in organizations in real time, the adoption of RTLS solutions in APAC is expected to increase as Asia Pacific is witnessing advancements in the healthcare, retail, and manufacturing sectors, thereby adopting new technologies. Japan is the early adopter of RTLS in this region and has witnessed the highest growth in the RTLS market in the past. Countries such as South Korea, China, and Australia are now expected to witness high growth in the RTLS market in the near future.
Healthcare has been the major industry for RTLS solutions and is expected to continue to hold a major share during the forecast period. The largest market share of the healthcare vertical is attributed to the early adoption of RTLS-based solutions for a wide range of healthcare applications such as tracking and monitoring assets, personnel, and patients; hand hygiene compliance; and environmental monitoring. Several hospitals across the world spend a huge amount on buying lost equipment and looking after medical equipment and people (staff and patients). These factors, along with the growth of IoT in healthcare, have led to a huge market opportunity for RTLS solutions in healthcare industry.
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In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:
- By Company Type: Tier 1= 15%, Tier 2= 25%,and Tier 3= 60%
- By Designation: C-Level Executives= 60%, Directors= 30%, and Others= 10%
- By Region: North America= 50%, Europe= 25%, APAC= 20%, and RoW=5%
The Real Time Location System Market [http://www.reportsnreports.com/reports/370278-real-time-location-system-rtls-market-product-hardware-software-service-technology-rfid-wi-fi-uwb-infrared-others-application-healthcare-manufacturing-process-industries-govt-defense-retail-others-and-geography-forecasts-analysis-to-2020.html ] (RTLS) report estimates the market size and future growth potential of the RTLS market across different segments such as offering, technology, application, vertical,and geography. Moreover, the report includes the industry trends and company focus/strategies, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, and recent developments.
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