Increasing awareness about benefits of Real-time Location Services (RTLS) is a key factor expected to drive global market growth by 2028

PUNE, MAHARASHTRA, INDIA, January 18, 2023 /EINPresswire.com/ -- The global Real-time Location Services (RTLS) applications market size is expected to reach USD XX million in 2028 and register a revenue CAGR of XX% during the forecast period. Key factors such as increasing need for asset tracking across various sectors, rising working population, and growing demand for real-time location services across various sectors are expected to drive global market growth during the forecast period.

A Real-time Location Services (RTLS) application provides precise information and location of assets, vehicles, goods, or people by identifying and tracking the geographical locations in real time. It is typically embedded in a product such as smartphone or a navigation system that consists of wireless nodes such as tags or badges that emit signals and readers that receive the signals. RTLS-capable products such as Wi-Fi, RFID, UWB, Ultrasound, Infrared, and ZigBee are widely used in several sectors such as supply chain management, healthcare, retail, recreation, military and postal, and courier services. Some of the common RTLS applications include fleet tracking, navigation, network security, personnel tracking, and inventory and asset tracking.

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Factors such as increasing demand for RTLS in security and surveillance, rising availability of these applications at affordable costs, increasing adoption of smartphones and high usage of applications such as gaming, health and wellness and communication that require access to user information and high investments in research and development activities are expected to drive global market growth going ahead.

However, lack of true interoperability among various systems, increasing concerns about malware attacks, data security and privacy, and dearth of skilled technicians, and unawareness about RTLS are some key factors expected to hamper global market growth during the forecast period.

RFID Segment to Account for the Significantly Larger Revenue Share:

The RFID segment is expected to account for significantly larger revenue share between 2017 and 2028. This can be attributed to high demand for RFID in manufacturing units, rising availability of RFID solutions at cost-effective prices, and increasing awareness about advantages of RFID over wireless communications.

Manufacturing Segment To Register Rapid Revenue CAGR:

The manufacturing segment is expected to register rapid revenue CAGR over the forecast period owing to increasing manufacturing activities, rising need for asset tracking for improving overall processing, and growing demand for UWB and RFID solutions in the manufacturing sector.

North America to Account for Largest Revenue Share:

North America is expected to account for largest revenue share in the global market during the forecast period owing to rapid technological advancements, increasing demand for RTLS applications across various sectors such as healthcare, manufacturing, commercial and industrial, and presence of key players. In addition, growing awareness about importance of RTLS systems, high focus on research and development activities, and implementation of favorable government policies are expected to drive global market growth going ahead.

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Real-time Location Services (RTLS) Applications Market By Company:

• Tele Tracking Technologies
• STANLEY Healthcare
• Ubisense Group Plc
• Motorola Solutions
• PINC Solutions Corporation
• Skytron LLC
• Axcess International
• Zebra Technologies Corporation
• Sonitor Technologies AS
• Midmark RTLS
• Awarepoint Corporation

The global Real-time Location Services (RTLS) applications market has been segmented on the basic on type, application, and region:

Real-time Location Services (RTLS) Applications Market Segment by Type:

• Wi-Fi
• RFID
• UWB
• Ultrasound
• Infrared
• ZigBee

Real-time Location Services (RTLS) Applications Market Segment by Application:

• Manufacturing
• Industrial
• Retail Sectors
• Logistics
• Transportation
• Others

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Real-time Location Services (RTLS) Applications Market by Region:

• North America
o United States
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Russia
• Asia Pacific
o China
o Japan
o South Korea
o India
o Australia
o Taiwan
o Indonesia
o Malaysia
• Latin America
o Mexico
o Brazil
o Argentina
• Middle East & Africa
o Turkey
o Saudi Arabia
o U.A.E

Reasons to Purchase This Report:

• Estimates 2023-2028 Real-time Location Services (RTLS) Applications market dynamics, development and trends
• Detailed overview of the market including market size, share, growth opportunities, and challenges in the years to come
• Market segmentation analysis with qualitative and quantitative research incorporating impact of economic and political aspects
• Competitive landscape focusing on detailed information about every market player along with new projects and strategies adopted by them
• Comprehensive analysis of company profiles covering product offerings, recent developments, SWOT analysis, licence agreement and other strategies adopted by key players in the global Real-time Location Services (RTLS) Applications market

Frequently Asked Questions:

• What is the market size of the global Real-time Location Services (RTLS) applications market during the forecast period?
• What was the market size of the global Real-time Location Services (RTLS) applications market in 2021?
• Which region is expected to dominate other regional markets throughout the forecast period?
• What are the key factors expected to drive global market growth during the forecast period?
• What are the key restraints expected to hamper overall market growth between 2023 and 2028?
• Which region is expected to register rapid revenue CAGR over the forecast period?

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Market Summary:

Chapter 1: Real-time Location Services (RTLS) Applications Market definition, introduction, current and emerging market trends, market driving force, restraints, challenges and opportunities.
Chapter 2: Basic information about global Real-time Location Services (RTLS) Applications Market.
Chapter 3: Impact of COVID-19 outbreak on overall market dynamics. Pre-COVID and post-COVID analysis.
Chapter 4: Details about key manufacturers in the global Real-time Location Services (RTLS) Applications Market, consisting of complete profile of players, competitive landscape, peer group analysis and BCG matrix.
Chapter 5: Real-time Location Services (RTLS) Applications Market factor analysis, Porter’s Five force analysis, supply/value chain, PESTLE model, market entropy and Patent analysis.
Chapter 6: Detailed overview of market segments, regional analysis by sales, revenue and prices.

Objective of the Report:

• Analyze and forecast market size of global Real-time Location Services (RTLS) Applications Market by value and volume.
• Estimate market size, share, revenue CAGR.
• Analyze and study micro markets in terms of contributions to Real-time Location Services (RTLS) Applications Market their individual growth trends and prospects.
• Precise insights of useful details about factors driving and affecting growth of Real-time Location Services (RTLS) Applications Market.
• Comprehensive overview and profiles of key players including business strategies such as research and development investments, collaborations, partnerships, mergers and acquisitions, product launches, and joint ventures.

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