Real Time Location System (RTLS) Market To Report Impressive Growth, Revenue To Surge To US$ 95.74 Billion by 2032

With the presence of a large pool of participants, the global real time location system (RTLS) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). AeroScout Industrial, Awarepoint Corporation, BeSpoon SAS, CenTrak, ChyronHego Corporation, Decwave, Ekahau, Identec Solutions, and Motorola Solutions Inc. are some of the key vendors of real time location system (RTLS) across the world. These players across real time location system (RTLS) market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development states the real time location system (RTLS) market study.

Citing an instance, on September 10, 2018, Sonitor Technologies Incorporation – a major provider of reliable ultrasound real time location system and indoor positioning system – declared that it will demonstrate latest innovation Forkbeard - an indoor positioning system- at Mobile World Congress Americas held from September 12 to 14 in Los Angeles.

This review is based on a report by Zion Market Research, titled “Real-Time Locating System (RTLS) Market By Component (Hardware And Software), By Locating Architecture (Wi-Fi, Ultra-Wideband (UWB), RFID, Bluetooth (BLE), ZigBee, Ultrasound, And Others), By Application (Supply Chain Management, Staff Locating & Monitoring, Asset Tracking & Management, Visualization & Mapping, Workflow & Process Automation, And Others), And By End-User (Manufacturing, Transportation & Logistics, Healthcare, Retail, Defense, Sports & Entertainment, And Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2024-2032?.”- https://www.zionmarketresearch.com/report/real-time-location-system-market

Reportedly, recently, Parkland Health & Hospital System based in Texas installed real time location system technology for monitoring movement of the people in the campus.

 As estimated in this report, the global real time location system (RTLS) market stood at US$ 7.16 billion in 2023. Witnessing a tremendous rise during the period from 2024 to 2032, the revenue in this real time location system (RTLS) market is expected to reach US$ 95.74 billion by the end of the forecast period. The main components available in this real time location system (RTLS) market are hardware, software, and service. Among the three, the demand for hardware is relatively higher and the trend is anticipated to remain so over the next few years, notes the real time location system (RTLS) market research report.

Need For Resource Utilization & Workflow Optimization To Steer Growth

“Massive need for resource utilization and workflow optimization in several end-user industries such as healthcare, retail, transportation & logistics, industrial, and government sectors to impel growth of real time location system (RTLS) market in the years ahead,” says the author of this study. Apart from this, advanced features and disruptive & innovative technologies of RTLS have generated lucrative demand for real time location system (RTLS) across myriad sectors. In addition, accelerating demand for staff safety along with the need for bringing improvement in logistic & supply chain operations is likely to drive the adoption of real time location system (RTLS) in various companies. This, in turn, will propel the expansion of real time location system (RTLS) market in the upcoming years.

Humungous Presence Of Numerous Hospitals To Upswing Regional Growth

Regionally, North America has been leading the worldwide real time location system (RTLS) market and is anticipated to continue on the dominant position in the years to come, states the real time location system (RTLS) market study. The presence of a large number of hospitals, transportation & logistics firms, and other end-user industries that require real time location system (RTLS) services is the main factor behind the dominance of the North America real time location system (RTLS) market. The high number of key market players being headquartered in North America is another significant factor that is supporting the growth of this regional real time location system (RTLS) market. In addition, a slew of applications in healthcare sector along with supportive government policies has generated the demand for real time location system (RTLS) services in the region.

The global real time location system (RTLS) market is segmented as follows:

By Component

• Hardware
• Software
• Service

By Technology

• Radio Frequency Identification (RFID)
  • Active RFID
  • Passive RFID
• Wi-Fi 
• Ultra-Wide Band (UWB)
• Ultrasound
• Infrared
• Bluetooth Low Energy
• GPS
• WhereNet
• ZigBee

By (Business) Verticals

• Transportation & Logistics
• Healthcare
• Government
• Retail
• Industrial
• Others

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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