In a recent published report, Global Real Time Location System Market report for till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Real Time Location System Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
A real-time location system (RTLS) is one of a number of technologies that detects the currentgeolocationof a target, which may be anything from a vehicle to an item in a manufacturing plant to a person. RTLS is typically embedded in a product, such a mobile phoneor a navigational system. Most such systems consist of wireless nodes typically tags or badges that emit signals and readers that receive those signals. It is used to automatically identify and track the location of objects or people in real time, usually within a building or other contained area.
Individual customers, network security providers, logistics and tracking facilitators, supply chain, healthcare and hospital industry, military, crime detective agencies, cabs and taxi services, e-commerce companies, recreation facilitators, postal and courier services and like are the target customers for the real-time location system industry.
Market Dynamics and Opportunities
The global market for real-time location system is estimated to grow at a promising CAGR of about 30.5% and is expected to be valued at USD 8.09 billion by 2020. The deep penetration of technology in the daily lives of people, and the way it has changed the lifestyle, business style and work culture, and the fact that people eagerly welcome and adopt these new technologies, is a driver for this market.
The market is segmented in terms of the type of components used, type of technology, type of application and by industry verticals. Based on components, the global automobile real-time location system market is broadly categorized into tags, software and sensors. On the basis of the type of technology, the real-time location system market is categorized into Active RFID and Passive RFID. Active RFID is further subdivided into Bluetooth, GPS, UWB (Ultra-Wide Band), Wi-Fi, etc. According to industry verticals, this market can be segmented into Manufacturing, Logistics, Healthcare, Defense, Security, etc. Further, on the basis of application, the segments are- tracking of assets, WIP, shipping containers, personnel, patients’ activity, vehicle/fleet, etc.
The global real-time location system market is dominated by North America (the U.S., Canada and Mexico) which has the largest geographical market share in the global RTLS market. This can be owed to fact that North America is highly inclined towards adopting new technologies, easily and quickly. Also, the use of RTLS in various sectors such as healthcare, has increased in this region. It also can be attributed to the fact that the major companies operating in this domain belong to North America. Europe stands at number two and Asia Pacific has a wide scope for real-time location system market due to the highly populated, developing economies like China and India.
Some of the major players operating in the global real-time location system market include: AeroScout Industrial, Zebra Technologies, TeleTracking Technologies, Sonitor Technologies, Awarepoint, Ekahau, GE Healthcare and Ubisense, Centrak, etc.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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